Flex Space Garage
For Sale
$99,900
1251 Arthur Dr, Milton, WI 53563
Private units include individual meters, a floor drain, water spigot, heater, and access to a community restroom.
Property Size1,100 SF
Price / SF$90.82
Days on Market27
Property Features for 1251 Arthur Dr
General Information
Standard status
Active
Size
1,100 SF
Additional Details
Utilities to Site
Yes
Warehouse Space
1,100 SF
Amenities
individual service meters
floor drain
water spigot
Modine heater
community restroom access
available WiFi
Building Details
Year Built
2023
Listing Agency:
Compass RE WI-Tosa
(715) 560-9233
Listed By:
Corinne Fales · License #6033890
Source:
Nikolicgroup
Added: Aug 6
Changed: Aug 30
Last Checked: Aug 31 at 7:39PM
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 Compass RE WI-Tosa
Investment Insights
Based on property information with market context.
This 2023-built flex property offers garage condominium space designed for storage, work, and personal-use applications. Existing units measure approximately 1,100 square feet and include individual service meters, a floor drain, water spigot, Modine heater, and available WiFi. Community restroom access is available from unit 19.
A future building is planned with customizable units ranging from approximately 650 to 3,000 square feet. The source information identifies options for adding mezzanine lofts, offices, lounges, storage, or entertainment areas. Owners may also rent their units to others.
A future building is planned with customizable units ranging from approximately 650 to 3,000 square feet. The source information identifies options for adding mezzanine lofts, offices, lounges, storage, or entertainment areas. Owners may also rent their units to others.
Key Highlights
- 2023‑built flex property with garage condominium units
- Existing units offer approximately 1,100 sq ft
- Individual service meters, floor drain, water spigot, and Modine heater
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
$3,471
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
3.47%
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%
$69,420
$69.4K
Cap Rate 7%
$49,586
$49.6K
Cap Rate 9%
$38,567
$38.6K
Market Conditions
NOI Build-Up for 1,100 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
$4.5K $4.08/SF
− Vacancy
−$404 −$0.37/SF
EGI
$4.1K $3.71/SF
− OpEx
−$613 −$0.56/SF
NOI
$3.5K $3.16/SF
Area
Rock County, WI
Vacancy
9.00%
Lease Rate
$4.08 /SF/Yr
Expense Ratio
15.00%
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%
$69,420
Cap Rate 7%
$49,586
Cap Rate 9%
$38,567
Alternative Uses
Best Use
Flex RnD
$185.3K
$162.2K – $216.2K
NOI $12,973 @ 7.0% cap · market cap 12.99%
Second Best
Warehouse
$49.6K
$43.4K – $57.9K
NOI $3,471 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$264.3K
$231.3K – $308.4K
NOI $18,504 @ 7.0% cap · market cap 18.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 53563, WI
11,503
Population
4,672
Households
2.5
Avg Household Size
42
Median Age
31%
College-Educated
96%
High-School Grad
67.0 sq mi
ZIP Area
172
Density / Sq Mi
$89,397
Median Household Income
$47,742
Median Earnings
$972
Median Rent
$270,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Private units include individual meters, a floor drain, water spigot, heater, and access to a community restroom.
Where is this flex space located?
The property is located at 1251 Arthur Dr Milton, WI.
What is the asking price?
The asking price for this property is $99,900.
What are key features of this property?
This property features: 2023‑built flex property with garage condominium units; Existing units offer approximately 1,100 sq ft; Individual service meters, floor drain, water spigot, and Modine heater
