Freestanding Flex Warehouse
For Sale
$769,500
116 Antique Lane, De Forest, WI 53532
Freestanding industrial building with yard, office area, two ground-level loading doors, and 14’ eave height.
Property Size7,000 SF
Lot Size0.68 Acres
Price / SF$109.93
Days on Market80
Property Features for 116 Antique Lane
General Information
Standard status
Active
Size
7,000 SF
Lot size
0.68 Acres
Property subtype
Industrial
Warehouse & Industrial
Drive-In Doors
2
Heavy Power
Yes
Amenities
Men's and women's restrooms
Building Details
Building Size
7,000 SF
Listing Agency:
Lee & Associates of Madison
(608) 327-4005
Listed By:
Blake George · License #4944590
Source:
Lee-associates
Added: Jun 11
Changed: Aug 26
Last Checked: Aug 28 at 8:11AM
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 Lee & Associates of Madison
Investment Insights
Based on property information with market context.
A freestanding flex warehouse building offering 7,000 square feet, including approximately 1,000 square feet of office area. The former machine shop setup includes multiple electrical outlets, two electrical services (400 amp, 3-phase, 208 volt and 200 amp, 3-phase, 208 volt), and floor drains. The facility also includes men’s and women’s restrooms and two ground-level doors measuring 12’ x 10’ and 12’ x 12’.
The property sits on a 29,751 square foot lot with yard, and includes a 43’ access easement. An eave height of 14’ supports a range of warehouse and light industrial uses. A possible dock is noted as well.
Ideal for an owner-occupant looking for functional shop-and-storage space, the layout combines office, utility-ready workspace, and practical loading access within the fenced lot and yard area.
The property sits on a 29,751 square foot lot with yard, and includes a 43’ access easement. An eave height of 14’ supports a range of warehouse and light industrial uses. A possible dock is noted as well.
Ideal for an owner-occupant looking for functional shop-and-storage space, the layout combines office, utility-ready workspace, and practical loading access within the fenced lot and yard area.
Key Highlights
- 7,000 sq. ft. freestanding industrial building with 4,000 sq. ft. available for owner/occupant
- 1,000 sq. ft. office area plus men’s and women’s restrooms
- 14’ eave height with floor drains and former machine shop setup with multiple electrical outlets
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
$68,725
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
8.93%
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%
$1,374,500
$1.4M
Cap Rate 7%
$981,786
$981.8K
Cap Rate 9%
$763,611
$763.6K
Market Conditions
NOI Build-Up for 7,000 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
$100.8K $14.40/SF
− Vacancy
−$2.6K −$0.37/SF
EGI
$98.2K $14.03/SF
− OpEx
−$29.5K −$4.21/SF
NOI
$68.7K $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 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%
$1,374,500
Cap Rate 7%
$981,786
Cap Rate 9%
$763,611
Alternative Uses
Best Use
Industrial
$981.8K
$859.1K – $1.15M
NOI $68,725 @ 7.0% cap · market cap 8.93%
Second Best
Flex RnD
$852.7K
$746.1K – $994.8K
NOI $59,689 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,866 @ 7.0% cap · market cap 14.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
242
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53532, WI
15,962
Population
6,375
Households
2.5
Avg Household Size
39
Median Age
43%
College-Educated
97%
High-School Grad
54.2 sq mi
ZIP Area
295
Density / Sq Mi
$110,050
Median Household Income
$56,970
Median Earnings
$1,381
Median Rent
$355,700
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.
Similar Off Market Nearby
- North and South Seafood & Smokehouse Catering — 605 s main st, deforest, wi 53532
- North and South Smokehouse Catering — 605 S Main St, DeForest, WI 53532
Frequently Asked Questions
What type of property is this?
Flex space - Freestanding industrial building with yard, office area, two ground-level loading doors, and 14’ eave height.
Where is this flex space located?
The property is located at 116 Antique Lane De Forest, WI.
What is the asking price?
The asking price for this property is $769,500.
What are key features of this property?
This property features: 7,000 sq. ft. freestanding industrial building with 4,000 sq. ft. available for owner/occupant; 1,000 sq. ft. office area plus men’s and women’s restrooms; 14’ eave height with floor drains and former machine shop setup with multiple electrical outlets
