Spa & Wellness Property with 22
For Sale
$1,660,000
1280 W Main, Sun Prairie, WI 53590
Fully leased commercial space supports independent beauty professionals across a multi-suite layout.
Property Size7,200 SF
Price / SF$230.56
Days on Market74
Property Features for 1280 W Main
General Information
Standard status
Active
Size
7,200 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Business Included
Yes
Office Units
22
Building Details
Year Built
2004
Year Renovated
2004
Tenancy
Multi
Listing Agency:
Century 21 Affiliated
Listed By:
Dione Laufenberg
(608) 886-3205
Source:
Viewhomesinwisconsin
Added: Jun 27
Changed: Sep 8
Last Checked: Sep 8 at 6:49AM
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 Century 21 Affiliated
Investment Insights
Based on property information with market context.
This 7200-square-foot spa and wellness property contains 22 commercial suites occupied by independent beauty professionals. The building is fully leased and was completely renovated in 2004, providing a dedicated suite-based configuration for salon and personal-care operations. The property is identified as Salon de Luxe and offers an established tenant roster rather than a single-user layout.
Located at 1280 W Main Street in Sun Prairie, Wisconsin, the asset has supported long-term occupancy, with current tenants reporting occupancy periods ranging from 10 to 22 years. The tenant mix includes six professionals with at least 10 years of tenure, supporting continuity across the suite count. The property combines a defined wellness use with a fully occupied commercial format.
Located at 1280 W Main Street in Sun Prairie, Wisconsin, the asset has supported long-term occupancy, with current tenants reporting occupancy periods ranging from 10 to 22 years. The tenant mix includes six professionals with at least 10 years of tenure, supporting continuity across the suite count. The property combines a defined wellness use with a fully occupied commercial format.
Key Highlights
- 22 commercial suites in a fully leased configuration
- 7200 SF spa and wellness property
- Completely renovated in 2004
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
$69,023
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
4.16%
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%
$1,380,460
$1.4M
Cap Rate 7%
$986,043
$986.0K
Cap Rate 9%
$766,922
$766.9K
Market Conditions
NOI Build-Up for 7,200 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
$108.0K $15.00/SF
− Vacancy
−$9.4K −$1.31/SF
EGI
$98.6K $13.70/SF
− OpEx
−$29.6K −$4.11/SF
NOI
$69.0K $9.59/SF
Area
Dane County, WI
Vacancy
8.70%
Lease Rate
$15.00 /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%
$1,380,460
Cap Rate 7%
$986,043
Cap Rate 9%
$766,922
Alternative Uses
Best Use
Retail
$986.0K
$862.8K – $1.15M
NOI $69,023 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $117,119 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22
Office units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
683
Businesses Nearby
99k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Dining 45%
Hotels & Casinos 1%
Beauty & Spa 1%
Kwik Trip
Shops & Services
31,882 visits/mo
0.1 miles
Culver's
Dining
23,855 visits/mo
0.2 miles
Wendy's
Dining
10,847 visits/mo
0.5 miles
BP
Shops & Services
6,605 visits/mo
0.4 miles
Summit Credit Union
Shops & Services
5,164 visits/mo
0.1 miles
Demographics for 53590, WI
43,684
Population
18,292
Households
2.4
Avg Household Size
37
Median Age
52%
College-Educated
97%
High-School Grad
65.9 sq mi
ZIP Area
663
Density / Sq Mi
$96,497
Median Household Income
$57,711
Median Earnings
$1,375
Median Rent
$354,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Jackie Lane’s Healing Home — 1715 Linnerud Dr #232, Sun Prairie, WI 53590
- Primal Air OMT - Sun Prairie, WI — 1266 W Main St, Sun Prairie, WI 53590
- Prairie Chiropractic — 5 N Bird St, Sun Prairie, WI 53590
- ReEmbody Physical Therapy — 908 Windsor St, Sun Prairie, WI 53590
- Haumea: Yoga, Fitness, Massage, Chiropractic, Physical Therapy — 908 Windsor St, Sun Prairie, WI 53590
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Fully leased commercial space supports independent beauty professionals across a multi-suite layout.
Where is this spa & wellness property located?
The property is located at 1280 W Main Sun Prairie, WI.
What is the asking price?
The asking price for this property is $1,660,000.
What are key features of this property?
This property features: 22 commercial suites in a fully leased configuration; 7200 SF spa and wellness property; Completely renovated in 2004
