Building Details

Year Built 1987

Listing Agency: Rock Realty

Listed By: Erik Rasmuson · License #9354994 Show Phone

Source: Madisonareahomelistings

Added: Jul 11 Changed: Oct 1 Last Checked: Oct 16 at 9:28AM

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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

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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.

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 / Yr

$20,834

Cap Rate

6.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$416,680 $416.7K

Cap Rate 7%

$297,629 $297.6K

Cap Rate 9%

$231,489 $231.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,000 SF

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 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 (±1% cap)

NOI $52,927 @ 7.0% cap · market cap 15.43%

Second Best

Flex RnD

$297.6K

$260.4K – $347.2K (±1% cap)

NOI $20,834 @ 7.0% cap · market cap 6.07%

Theoretical Best

Office A

$1.80M

$1.57M – $2.10M (±1% cap)

NOI $125,810 @ 7.0% cap · market cap 36.68%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Pardeeville Gym Club Gym & Fitness Center

Suggested Use

Top Pick Real Estate Agency Hair Salon HVAC Service Law Firm Auto Parts Store Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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