Flex Space with Gym
For Sale
$343,000
107 N Main, Pardeeville, WI 53954
The building includes gym equipment and multiple ingress and egress points.
Property Size8,000 SF
Price / SF$42.88
Days on Market22
Property Features for 107 N Main
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Commercial
Building Details
Year Built
1987
Listing Agency:
Rock Realty
(608) 234-1793
Listed By:
Erik Rasmuson · License #9354994
Source:
Madisonareahomelistings
Added: Aug 11
Changed: Aug 31
Last Checked: Aug 31 at 5:52PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rock Realty
Investment Insights
Based on property information with market context.
This 8,000-square-foot flex property was built in 1987 and has served as a gymnastics gym for many years. Gym equipment is included in the sale, and the property is being conveyed AS IS. The existing layout can continue serving a gymnastics use or be renovated for office or manufacturing purposes.
The property occupies almost two acres in downtown Pardeeville and has multiple ingress and egress points. Located at 107 N Main, the site combines an established commercial building with substantial land area and adaptable interior space.
The property occupies almost two acres in downtown Pardeeville and has multiple ingress and egress points. Located at 107 N Main, the site combines an established commercial building with substantial land area and adaptable interior space.
Key Highlights
- 8,000 square feet of flex space
- Almost two acres in downtown Pardeeville
- Gym equipment included in the sale
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,834
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$416,680
$416.7K
Cap Rate 7%
$297,629
$297.6K
Cap Rate 9%
$231,489
$231.5K
Market Conditions
NOI Build-Up for 8,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$32.6K $4.08/SF
− Vacancy
−$588 −$0.07/SF
EGI
$32.1K $4.01/SF
− OpEx
−$11.2K −$1.40/SF
NOI
$20.8K $2.60/SF
Area
Columbia County, WI
Vacancy
1.80%
Lease Rate
$4.08 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$416,680
Cap Rate 7%
$297,629
Cap Rate 9%
$231,489
Alternative Uses
Best Use
Industrial
$756.1K
$661.6K – $882.1K
NOI $52,927 @ 7.0% cap · market cap 15.43%
Second Best
Flex RnD
$297.6K
$260.4K – $347.2K
NOI $20,834 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,810 @ 7.0% cap · market cap 36.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53954, WI
6,907
Population
2,898
Households
2.4
Avg Household Size
45
Median Age
18%
College-Educated
92%
High-School Grad
79.1 sq mi
ZIP Area
87
Density / Sq Mi
$80,938
Median Household Income
$48,493
Median Earnings
$904
Median Rent
$248,500
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - The building includes gym equipment and multiple ingress and egress points.
Where is this flex space located?
The property is located at 107 N Main Pardeeville, WI.
What is the asking price?
The asking price for this property is $343,000.
What are key features of this property?
This property features: 8,000 square feet of flex space; Almost two acres in downtown Pardeeville; Gym equipment included in the sale
