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    N63w23524 Silver Spring Dr Sussex, WI 53089

    View on Map
    Sponsored
    For Sale
    $299,900

    Office(s),Professional Service - Sussex, WI

    Property size:
    1,500 SF
    Lot size:
    1.18 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 13 at 6:06 pm

    Property Features for N63w23524 Silver Spring Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    SUXV0246962002
    Interior features
    Carpeting, Elevator, Fixtures, Handicap Access, Inside Storage, Office(s), Rest Rooms
    Accessibility
    Accessible Approach with Ramp, Accessible Elevator Installed
    Size
    1,500 SF
    Lot size
    1.18 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1999
    Floors in Building
    1
    Building materials
    Stone
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Jennifer S Bronk Wieland

    eXp Realty, LLC (608) 412-0704

    Listing agent Jennifer S Bronk Wieland (866) 848-6990 License #66388-94

    Listing date Mar 12, 2026

    MLS# 1953532 Listing URL

    Copyright © 2026 Metro MLS. 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

    Commercial Condo in Sussex, WI

    This commercial condominium unit, located in Sussex, Wisconsin, is available for sale. The unit is situated on the upper level of the building. The layout includes a front foyer or waiting room, a large front desk area with built-ins, a conference room, a storage or utility room, and four separate offices, three of which feature built-ins. A coffee and snack station is located in the hallway, and there is also a bathroom. The unit has both front and back entrances, with the front entrance providing elevator access. The lower level includes restrooms and a full basement, where the unit owner is allowed to store items in a quarter of the space. Parking is also allocated as a quarter share. The property is located on a 1.18-acre lot. The condo is suitable for businesses such as investment groups, spa and wellness services, and title companies. The property is currently zoned for commercial use. The unit encompasses approximately 1500 square feet. Other occupants in the building include Lake Country Eye Care, Toy Family Dentistry, and Sussex Chiropractic. The monthly condo fee is approximately $550.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Sussex
    County
    Waukesha
    State
    Wisconsin
    Longitude
    -88.214703
    Latitude
    43.132271

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    FAQs

    What type of property is this?
    Office units - Upper-level commercial condo ideal for professional services.
    Where is this office units located?
    The property is located at N63w23524 Silver Spring Dr Sussex, WI.
    What is the asking price?
    The asking price for this property is $299,900.
    What are key features of this property?
    This property features: - Prime commercial condo unit suitable for various businesses.; - Upper floor boasts a large front desk area with built-ins, conference room, and 4 separate offices (3 with built-ins).; - Elevator access and handicap accessibility features.
    (262) 370-2332
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    N63w23524 Silver Spring Dr Sussex, WI 53089
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    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
    N63w23524 Silver Spring Dr Sussex, WI 53089
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    We can help!
    Listing Contact
    Jennifer S Bronk Wieland
    Real Estate License ID: 66388-94
    (262) 370-2332 (866) 848-6990
    Learn more
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