Flex Space with Oversized
For Sale
$589,000
Pending
1090a Union, Oregon, WI 53575
Commercial condo combining high-capacity garage storage with finished office and residential-style amenities.
Property Size2,850 SF
Days on Market52
Property Features for 1090a Union
General Information
Standard status
Pending
Size
2,850 SF
Property subtype
Commercial
Warehouse & Industrial
Clear Height
20 ft
Drive-In Doors
2
Building Details
Year Built
2020
Listing Agency:
Real Broker LLC
(608) 219-6506
Listed By:
Hansen Home Team
Source:
Madisonareahomesforsale
Added: Jul 10
Changed: Aug 29
Last Checked: Aug 29 at 8:40PM
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 Real Broker LLC
Investment Insights
Based on property information with market context.
This 2,850-square-foot commercial condo, built in 2020, combines substantial garage capacity with a finished interior. The property includes 8+ garage stalls, two oversized 18-foot garage doors, and 20-foot ceilings, providing room for vehicles, equipment, trailers, or workshop activities. Interior improvements include a full kitchen, private office, bedroom, living area, and bathroom.
Located at 1090a Union in Oregon, Wisconsin, the space offers a flexible arrangement for business operations, storage, recreation, or a combination of uses. Its mix of open garage volume and finished rooms supports a range of practical commercial applications without sacrificing everyday functionality.
Located at 1090a Union in Oregon, Wisconsin, the space offers a flexible arrangement for business operations, storage, recreation, or a combination of uses. Its mix of open garage volume and finished rooms supports a range of practical commercial applications without sacrificing everyday functionality.
Key Highlights
- 2,850 SF commercial condo built in 2020
- 8+ garage stalls with 20‑foot ceilings
- Two oversized 18‑foot garage doors
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
$33,977
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
5.77%
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%
$679,540
$679.5K
Cap Rate 7%
$485,386
$485.4K
Cap Rate 9%
$377,522
$377.5K
Market Conditions
NOI Build-Up for 2,850 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
$41.0K $14.40/SF
− Vacancy
−$1.1K −$0.37/SF
EGI
$40.0K $14.03/SF
− OpEx
−$6.0K −$2.10/SF
NOI
$34.0K $11.92/SF
Area
Dane County, WI
Vacancy
2.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
15.00%
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%
$679,540
Cap Rate 7%
$485,386
Cap Rate 9%
$377,522
Alternative Uses
Best Use
Warehouse
$485.4K
$424.7K – $566.3K
NOI $33,977 @ 7.0% cap · market cap 5.77%
Second Best
Industrial
$399.7K
$349.8K – $466.4K
NOI $27,981 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$662.3K
$579.5K – $772.7K
NOI $46,360 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
360
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53575, WI
17,320
Population
7,036
Households
2.5
Avg Household Size
41
Median Age
47%
College-Educated
97%
High-School Grad
55.3 sq mi
ZIP Area
313
Density / Sq Mi
$110,388
Median Household Income
$64,251
Median Earnings
$1,223
Median Rent
$384,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Commercial condo combining high-capacity garage storage with finished office and residential-style amenities.
Where is this flex space located?
The property is located at 1090a Union Oregon, WI.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: 2,850 SF commercial condo built in 2020; 8+ garage stalls with 20‑foot ceilings; Two oversized 18‑foot garage doors
