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    Modern Flex Industrial Building Title is generated by Realmo AI

    1225 Greenway Cross, Madison, WI 53713

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    For Sale
    $1,299,000

    Retail,Office,Service,Manufacturing,Warehouse,Industrial,Recreation,Grocery,Day care,Beauty/barber,Shopping center/StripMall

    Property size:
    5,250 SF
    Price / SF:
    $247/SF
    Added:
    Jun 3, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 3 at 1:06 pm

    Property Features for 1225 Greenway Cross

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    IL-Ind/Lim
    Parking features
    Paved or Surfaced
    Security features
    Security System
    Interior features
    Overhead doors, Private Restrooms, Shared conference room, Reception area, Display window, Security system, Inside storage
    Exterior features
    Truck dr(s) hgr than 15ft, Signage available
    Standard status
    Active
    APN
    0609-022-0604-9

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    11853

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    2008
    Floors in Building
    1
    Number of units
    1
    Building materials
    Frame
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Matt Winzenried Real Estate Team

    Listing agent Matt Winzenried Real Estate Team

    Listing office Realty Executives Cooper Spransy 5940 Seminole Centre Ct Ste 310, Madison, WI

    Listing date Jun 3, 2026

    MLS# 2024862 Listing URL

    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.

    HighLights

    • 5,250 SF flex industrial/commercial building built in 2008 with versatile office, studio, or showroom space plus workshop/storage
    • Includes 4,000 SF finished office/studio/showroom area, 1,250 SF workshop/storage, and 14–16 ft ceilings
    • Two 10' x 10' overhead doors and open work areas with inside storage and a reception/display area
    • Amenities include 3 private offices, a shared conference room, a kitchen, and 2 restrooms (with private restrooms listed)
    • Utilities and tech: T1 fiber internet, Capital security system, and 200 AMP service
    • Updates and comfort: central A/C (2018) and metal roof, siding, and gutters (2021), plus 16+ paved parking spaces and metal roof

    Overview

    This modern flex industrial/commercial building was rebuilt from the steel frame up and designed for a wide range of uses. The property offers 14–16 ft ceilings and a total configuration that combines finished office, studio, or showroom space with dedicated workshop/storage. Interior improvements include multiple private offices, a conference room, open work areas, a kitchen, and two restrooms, along with two 10’ x 10’ overhead doors for convenient loading and access. The building also features T1 fiber internet, a Capital security system, high-efficiency insulation, and 200 AMP service. Recent exterior and system updates include a metal roof, siding, and gutters (2021), plus central A/C (2018).

    Located in a prime Madison area, the building is described as just minutes from the Beltline, downtown, Fish Hatchery Rd, and Verona, supporting easy day-to-day access for employees, customers, and deliveries. The site includes 16+ onsite parking spaces, helping accommodate both staff and client visits.

    With its mix of finished workspace, flexible showroom/studio potential, and functional workshop/storage area with overhead doors, this property is well suited to contractors, creative studios, technology firms, service businesses, light industrial users, and owner-occupants seeking one building that can support operations and client-facing needs. The energy-efficient design and security features add practical value for tenants or buyers looking for a ready-to-use facility.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $138.6k $26.40
    − Vacancy −$20.5k −$3.91
    EGI $118.1k $22.49
    − OpEx −$29.5k −$5.62
    NOI $88.6k $16.87
    5,250 SF · lease $26.40/SF/yr · vacancy 14.80% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $1.27M
    $1.11M – $1.48M (±1% cap)
    NOI $88,565 @ 7.0% cap · market cap 6.82%
    Second Best
    Retail
    $1.07M
    $938.7K – $1.25M (±1% cap)
    NOI $75,093 @ 7.0% cap · market cap 5.78%
    Theoretical Best
    Office A
    $1.53M
    $1.34M – $1.79M (±1% cap)
    NOI $107,352 @ 7.0% cap · market cap 8.26%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Harper Fritsch Studios ... Marketing & Advertising Shawn Harper Photography Marketing & Advertising

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Firehouse Subs Fish Hatchery — 1403 Emil St, Madison, WI 53713

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.404495
    Latitude
    43.030778

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    FAQs

    What type of property is this?
    Flex space - Versatile flex space with finished offices, overhead doors, and ample parking in a highly accessible Madison corridor.
    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 $1,299,000.
    What are key features of this property?
    This property features: 5,250 SF flex industrial/commercial building built in 2008 with versatile office, studio, or showroom space plus workshop/storage; Includes 4,000 SF finished office/studio/showroom area, 1,250 SF workshop/storage, and 14–16 ft ceilings; Two 10' x 10' overhead doors and open work areas with inside storage and a reception/display area
    (608) 310-7346
    We can help!
    Listing Contact
    Matt Winzenried Real Estate Team
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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