Flex Space with Oversized
For Sale
Under Contract
$589,000
1090A Union Road, Oregon, WI 53575
COMMERCIAL - Oregon, WI
Property Size2,850 SF
Price / SF$206.67
Days on Market10
Property Features for 1090A Union Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Security features
Security System, Security Lighting
Interior features
Overhead doors, Truck dr(s) hgr than 15ft, Private Restrooms, Less than 440 volt, Security system, Inside storage, Security lighting, Private office(s)
Lot features
Free standing, Industrial park
Directions
US-14; exit to Janesville St, Left on S Perry Pkwy, Left on Union Rd. #5 is the first building on the left.
Subdivision
OREGON - T
Standard status
Active Under Contract
APN
0509-132-2713-0
Size
2,850 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2675
Building Details
Year built
2020
Number of units
1
Roof type
Composition
Additional Structures
Storage
Listing Agency:
Real Broker LLC
(855) 450-0442
Listed By:
Hansen Home Team
(608) 219-6506
Added: Aug 3
Changed: Aug 12
Last Checked: Aug 12 at 10:06AM
MLS# 2029268
Copyright © 2026 REALTORS® Association of South Central Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,850-square-foot commercial condo, built in 2020, combines functional flex space with a finished interior. The property includes 8+ garage stalls, two oversized 18-foot garage doors, and 20-foot ceilings for accommodating vehicles, equipment, trailers, boats, or workshop operations. Interior improvements include a full kitchen, private office, bedroom, living area, bathroom, private restrooms, and inside storage.
Commercial zoning supports the property's business-oriented configuration. Additional features include overhead doors, truck doors higher than 15 feet, a security system, security lighting, and electrical service rated at less than 440 volts. The building has a composition roof and provides a blend of work, storage, and finished support areas within one commercial condominium.
Commercial zoning supports the property's business-oriented configuration. Additional features include overhead doors, truck doors higher than 15 feet, a security system, security lighting, and electrical service rated at less than 440 volts. The building has a composition roof and provides a blend of work, storage, and finished support areas within one commercial condominium.
Key Highlights
- 2,850 square feet of commercial condo space
- 8+ garage stalls with two oversized 18ft garage doors
- 20ft ceilings accommodate vehicles, equipment, boats, and trailers
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
$39,429
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
6.69%
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%
$788,580
$788.6K
Cap Rate 7%
$563,271
$563.3K
Cap Rate 9%
$438,100
$438.1K
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
$62.6K $21.96/SF
− Vacancy
−$10.0K −$3.51/SF
EGI
$52.6K $18.45/SF
− OpEx
−$13.1K −$4.61/SF
NOI
$39.4K $13.83/SF
Area
Dane County, WI
Vacancy
16.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$788,580
Cap Rate 7%
$563,271
Cap Rate 9%
$438,100
Alternative Uses
Best Use
Office B
$563.3K
$492.9K – $657.2K
NOI $39,429 @ 7.0% cap · market cap 6.69%
Second Best
Warehouse
$485.4K
$424.7K – $566.3K
NOI $33,977 @ 7.0% cap · market cap 5.77%
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
Property Profile
Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Well-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 Office 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 combines finished office and residential-style amenities with substantial vehicle and equipment storage.
Where is this flex space located?
The property is located at 1090A Union Road 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 square feet of commercial condo space; 8+ garage stalls with two oversized 18ft garage doors; 20ft ceilings accommodate vehicles, equipment, boats, and trailers
