Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3128 Prospect Dr Sun Prairie, WI 53590

    Sponsored
    Picture of Residential land & home lots at Prospect Dr 3128, Sun Prairie, WI
    For Sale
    $89,900

    City - Sun Prairie, WI

    Lot size:
    0.16 Acres
    Days on Market:
    164
    Last Refresh:
    Jan 24 at 5:06 am

    Property Features for 3128 Prospect Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RES
    APN
    0810-113-6113-2
    Exterior features
    Curb/gutter, Sidewalk
    Lot size
    0.16 Acres

    Taxes and HOA fees

    Expense value
    350
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Annually

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Jeremiah Sullivan

    Real Broker LLC (855) 450-0442

    Listing agent Jeremiah Sullivan (855) 450-0442

    Listing date Aug 14, 2025

    MLS# 1996786 Listing URL

    Copyright © 2026 South Central Wisconsin MLS Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Residential Lot in Sun Prairie

    This prime residential lot is located in the Providence subdivision. The location offers convenient access to shopping, schools, walking trails, and other amenities. The lot size is 0.16 acres. Prospective buyers can bring their own builder to create a custom home in this community. The property is zoned RES and is located in Sun Prairie, WI, with a postal code of 53590, in Dane County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Auto Repair Shop Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sun Prairie
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.279869
    Latitude
    43.167854

    Nearby Similar for Sale

    • $605,000
      2,500 SF

      Sun Prairie Duplex Opportunity

      Charming side-by-side duplex in Sun Prairie, WI. Great investment opportunity.
      903 Clarmar Dr, Sun Prairie, WI 53590
      View Details
    • $613,000

      Historic Downtown Mixed-Use Property

      Updated mixed-use property in Sun Prairie's vibrant historic downtown.
      104 E Main St, Sun Prairie, WI 53590
      View Details
    • $599,900

      Highway 151 Commercial Opportunity

      High-traffic location near interstate with versatile building and storage.
      3345 Hwy 151, Sun Prairie, WI 53590
      View Details
    • $950,000
      0.38 Acres

      Sun Prairie Four-Unit Investment Property

      Four-unit property in Sun Prairie, great location, new roof.
      590 Kelvington Dr, Sun Prairie, WI 53590
      View Details
    • New
      $509,000
      1,550 SF

      Sun Prairie Duplex on Large Lot

      Side-by-side two-unit townhome in Sun Prairie with investment potential.
      2700 Bailey Rd, Sun Prairie, WI 53590
      View Details
    • $375,000
      0.35 Acres

      Sun Prairie Two-Flat with Updates

      Updated Sun Prairie two-flat with income and value-add potential.
      233-235 South St, Sun Prairie, WI 53590
      View Details
    • $1,200,000
      4,634 SF

      Versatile Medical Office Building

      Functional medical office building suitable for various professional uses.
      1721 W Main St, Sun Prairie, WI 53590
      View Details
    • $12,400,000
      179,526 SF

      Sun Prairie Industrial Facility

      179,526 SF Warehouse/Manufacturing
      150 Business Park Dr, Sun Prairie, WI 53590
      View Details
    • $995,000
      3,692 SF

      Prime Sun Prairie QSR Site

      Former McDonald's, High Traffic Location
      606 Main St, Sun Prairie, WI 53590
      View Details
    • $7,000,000
      290,627 SF

      301 Broadway Dr

      Distribution properties • 290,627 SF
      301 Broadway Dr, Sun Prairie, WI 53590
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Prime residential lot in a thriving Sun Prairie community.
    Where is this residential land & home lot located?
    The property is located at 3128 Prospect Dr Sun Prairie, WI.
    What is the asking price?
    The asking price for this property is $89,900.
    What are key features of this property?
    This property features: - Prime lot in Providence subdivision.; - Convenient location near shopping.; - Close proximity to schools.
    (708) 774-0068
    Request Owner's contact information
    3128 Prospect Dr Sun Prairie, WI 53590
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3128 Prospect Dr
    Sun Prairie, WI 53590
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3128 Prospect Dr Sun Prairie, WI 53590
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jeremiah Sullivan
    (708) 774-0068
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.