Building Details

Building Size 2,100 SF

Year Built 2016

Units 6

Listing Agency: Madison Commercial Real Estate LLC

Listed By: Mike Herl · License #5120090 Show Phone

Source: Geigerrealtors

Added: Aug 19 Changed: Oct 25 Last Checked: Oct 26 at 4:01AM

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Investment Insights

Based on property information with market context.

This 2,100-square-foot industrial condo was built in 2016 and includes mezzanine space and one overhead door. The property is zoned Industrial.

The site has visibility from Highway 18/151.

Key Highlights

• 2,100‑square‑foot industrial condo
• Mezzanine space
• One overhead door

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,618

Cap Rate

5.95%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$412,360 $412.4K

Cap Rate 7%

$294,543 $294.5K

Cap Rate 9%

$229,089 $229.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,100 SF

Gross rent

$30.2K $14.40/SF

− Vacancy

−$786 −$0.37/SF

EGI

$29.5K $14.03/SF

− OpEx

−$8.8K −$4.21/SF

NOI

$20.6K $9.82/SF

Area

Dane County, WI

Vacancy

2.60%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$412,360

Cap Rate 7%

$294,543

Cap Rate 9%

$229,089

Alternative Uses

Best Use

Industrial

$294.5K

$257.7K – $343.6K (±1% cap)

NOI $20,618 @ 7.0% cap · market cap 5.95%

Second Best

Flex RnD

$255.8K

$223.8K – $298.5K (±1% cap)

NOI $17,907 @ 7.0% cap · market cap 5.17%

Theoretical Best

Office A

$488.0K

$427.0K – $569.3K (±1% cap)

NOI $34,160 @ 7.0% cap · market cap 9.86%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

A+ Plumbing Plumbing Service Pure Waters Big Box & Wholesale Store

Suggested Use

Top Pick Auto Repair Shop Building Supply HVAC Service Electrical Service Storage Facility Grocery & Convenience Store

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

40

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 53517, WI

1,892

Population

834

Households

2.3

Avg Household Size

44

Median Age

35%

College-Educated

97%

High-School Grad

45.9 sq mi

ZIP Area

41

Density / Sq Mi

$74,722

Median Household Income

$46,030

Median Earnings

$1,133

Median Rent

$410,600

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

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Frequently Asked Questions

What type of property is this?

Flex space - Industrial-zoned space includes an overhead door for service and loading access.

Where is this flex space located?

The property is located at 11014 Blackhawk Drive #1 Blue Mounds, WI.

What is the asking price?

The asking price for this property is $346,500.

What are key features of this property?

This property features: 2,100‑square‑foot industrial condo; Mezzanine space; One overhead door