Flex Industrial Building with
For Sale
$1,199,000
1225 Greenway Cross, Madison, WI 53713
Rebuilt flex facility combines finished workspace with workshop and storage areas.
Property Size5,250 SF
Lot Size0.58 Acres
Price / SF$228.38
Days on Market105
Property Features for 1225 Greenway Cross
General Information
Standard status
Active
Size
5,250 SF
Total Parking Spaces
16
Lot size
0.58 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
16 ft
Warehouse Space
1,250 SF
Power
200 amps
Amenities
T1 fiber internet
Capital security system
conference room
kitchen
Building Details
Year Built
2008
Buildings
1
Building Size
5,250 SF
Construction
steel frame
Listing Agency:
Realty Executives Cooper Spransy
(608) 310-7346
Listed By:
Matt Winzenried Real Estate Team
Source:
Madisonareahomesforsale
Added: May 17
Changed: Aug 29
Last Checked: Aug 29 at 3:19PM
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 Realty Executives Cooper Spransy
Investment Insights
Based on property information with market context.
This 5,250 SF flex-industrial building occupies a .58-acre site and was rebuilt from its steel frame. The layout provides 4,000 SF of finished office, studio, showroom, or production space alongside 1,250 SF for workshop and storage use. Interior features include 14-16 ft ceilings, 3 private offices, a conference room, open work areas, a kitchen, and 2 restrooms. Two 10'x10' overhead doors support material handling and workshop operations.
The property includes 16+ onsite parking spaces, 200-AMP electrical service, T1 fiber internet, and a Capital security system. A metal roof, siding, and gutters were completed in 2021, while central A/C was added in 2018. Its Madison location provides access to the Beltline, downtown Madison, Verona, and Fish Hatchery Road.
The property includes 16+ onsite parking spaces, 200-AMP electrical service, T1 fiber internet, and a Capital security system. A metal roof, siding, and gutters were completed in 2021, while central A/C was added in 2018. Its Madison location provides access to the Beltline, downtown Madison, Verona, and Fish Hatchery Road.
Key Highlights
- 5,250 SF flex‑industrial building on a .58‑acre site
- 4,000 SF of finished office, studio, showroom, or production space
- 1,250 SF workshop and storage area with 14‑16 ft ceilings
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
$88,565
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
7.39%
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%
$1,771,300
$1.8M
Cap Rate 7%
$1,265,214
$1.3M
Cap Rate 9%
$984,056
$984.1K
Market Conditions
NOI Build-Up for 5,250 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
$138.6K $26.40/SF
− Vacancy
−$20.5K −$3.91/SF
EGI
$118.1K $22.49/SF
− OpEx
−$29.5K −$5.62/SF
NOI
$88.6K $16.87/SF
Area
Madison, WI
Vacancy
14.80%
Lease Rate
$26.40 /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%
$1,771,300
Cap Rate 7%
$1,265,214
Cap Rate 9%
$984,056
Alternative Uses
Best Use
Office B
$1.27M
$1.11M – $1.48M
NOI $88,565 @ 7.0% cap · market cap 7.39%
Second Best
Flex RnD
$624.2K
$546.2K – $728.2K
NOI $43,694 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,352 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,053
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53713, WI
23,291
Population
11,635
Households
2
Avg Household Size
32
Median Age
39%
College-Educated
86%
High-School Grad
9.8 sq mi
ZIP Area
2,377
Density / Sq Mi
$57,833
Median Household Income
$36,998
Median Earnings
$1,173
Median Rent
$259,100
Median Home Value
Market
Vacancy Rate% for Office in Madison, WI
Questions? Ask Rey
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Similar Off Market Nearby
- Firehouse Subs Fish Hatchery — 1403 Emil St, Madison, WI 53713
Frequently Asked Questions
What type of property is this?
Flex space - Rebuilt flex facility combines finished workspace with workshop and storage areas.
Where is this flex space located?
The property is located at 1225 Greenway Cross Madison, WI.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: 5,250 SF flex‑industrial building on a .58‑acre site; 4,000 SF of finished office, studio, showroom, or production space; 1,250 SF workshop and storage area with 14‑16 ft ceilings
