Flex Space with Eighteen-Foot Clear
New
For Sale
$260,000
11-811 S Division St, Waunakee, WI 53597
I-1-zoned commercial units offer private restrooms and options to combine adjacent spaces.
Property Size1,163 SF
Price / SF$223.56
Days on Market7
Property Features for 11-811 S Division St
General Information
Standard status
Active
Size
1,163 SF
Zoning
I-1
Warehouse & Industrial
Clear Height
18 ft
Power
100 amps
Additional Details
Asking Price
$260,000
Highway Access
Yes
Amenities
snow removal
lawn care
trash service
water/sewer
parking
Listing Agency:
RE/MAX Preferred
(608) 276-8110
Listed By:
Justin Witkins · License #58265-90
(608) 843-5663
Source:
Exprealty
Added: Oct 8
Changed: Oct 13
Last Checked: Oct 13 at 2:30AM
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 RE/MAX Preferred
Investment Insights
Based on property information with market context.
A planned 16-unit commercial condominium development will offer non-residential flex space in Waunakee. Each unit measures 1,163 square feet, with an 18-foot clear height, a Modine heater, private bathroom, overhead garage door, service door, and 100-amp electrical service. Buyers can customize units with optional mezzanines, air conditioning, or upgraded power, and multiple spaces may be combined. The project is expected to break ground in Spring 2027.
The property is near downtown Waunakee and a short drive from HWY 113 and 19. I-1 zoning applies to the units. Condo fees cover snow removal, lawn care, trash, water and sewer, and parking.
The property is near downtown Waunakee and a short drive from HWY 113 and 19. I-1 zoning applies to the units. Condo fees cover snow removal, lawn care, trash, water and sewer, and parking.
Key Highlights
- Planned development includes 16 commercial condominium units
- Each unit contains 1,163 sq ft, with 18' clear height and 25'x46.5' dimensions
- I‑1 zoning; adjacent units may be combined
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,865
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$277,300
$277.3K
Cap Rate 7%
$198,071
$198.1K
Cap Rate 9%
$154,056
$154.1K
Market Conditions
NOI Build-Up for 1,163 SF
Gross rent
$16.7K $14.40/SF
− Vacancy
−$435 −$0.37/SF
EGI
$16.3K $14.03/SF
− OpEx
−$2.4K −$2.10/SF
NOI
$13.9K $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 Rate 5%
$277,300
Cap Rate 7%
$198,071
Cap Rate 9%
$154,056
Alternative Uses
Best Use
Warehouse
$198.1K
$173.3K – $231.1K
NOI $13,865 @ 7.0% cap · market cap 5.33%
Second Best
Industrial
$163.1K
$142.7K – $190.3K
NOI $11,418 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$270.3K
$236.5K – $315.3K
NOI $18,918 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
18 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
391
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53597, WI
20,729
Population
8,323
Households
2.5
Avg Household Size
41
Median Age
58%
College-Educated
98%
High-School Grad
52.9 sq mi
ZIP Area
392
Density / Sq Mi
$114,542
Median Household Income
$63,700
Median Earnings
$1,336
Median Rent
$462,900
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 - I-1-zoned commercial units offer private restrooms and options to combine adjacent spaces.
Where is this flex space located?
The property is located at 11-811 S Division St Waunakee, WI.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Planned development includes 16 commercial condominium units; Each unit contains 1,163 sq ft, with 18' clear height and 25'x46.5' dimensions; I‑1 zoning; adjacent units may be combined
