Versatile Warehouse/Office/Workshop Near
For Sale
$1,350,000
1335 & 1337 Gilson Street, Madison, WI 53715
16,280 sq. ft. warehouse/office/workshop with easy highway access.
Property Size16,280 SF
Lot Size0.78 Acres
Price / SF$82.92
Days on Market776
Property Features for 1335 & 1337 Gilson Street
General Information
Standard status
Active
Size
16,280 SF
Lot size
0.78 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1917
Listing Agency:
Spencer Real Estate Group
(608) 841-2221
Listed By:
Spencer Schumacher · License #58017-90
(608) 841-2221
Source:
Exitrealty
Added: Jun 21, 2024
Changed: Jul 10
Last Checked: Aug 5 at 4:23AM
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 Spencer Real Estate Group
Investment Insights
Based on property information with market context.
This 16,280 sq. ft. property is a versatile warehouse, office, and workshop space. It offers convenient access to the Beltline, major highways, and Downtown Madison. The property, consisting of two units, has previously functioned as a food hub and a wood shop, making it suitable for various business operations. It features multiple outdoor loading docks, ample storage space, functional office areas, and a kitchen/break room. The building is equipped with freezer and refrigeration systems for food distribution, which may be included in the sale. Located in the Wingra 42 TIF District, this property provides a combination of functionality, flexibility, and a strategic location.
Key Highlights
- 16,280 sq. ft. warehouse/office/workshop space.
- Quick access to the Beltline, major highways, and Downtown Madison.
- Adaptable two‑unit property suitable for various business uses.
Financial Insights For Warehouse
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 | $127.0k | $7.80 |
| − Vacancy | −$4.2k | −$0.26 |
| EGI | $122.8k | $7.54 |
| − OpEx | −$18.4k | −$1.13 |
| NOI | $104.4k | $6.41 |
16,280 SF · lease $7.80/SF/yr · vacancy 3.30% · expense 15.00%
Alternative Uses
Best Use
Flex RnD
$1.94M
$1.69M – $2.26M
NOI $135,492 @ 7.0% cap · market cap 10.04%
Second Best
Warehouse
$1.49M
$1.30M – $1.74M
NOI $104,374 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$4.76M
$4.16M – $5.55M
NOI $332,893 @ 7.0% cap · market cap 24.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,714
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53715, WI
16,517
Population
5,640
Households
2.9
Avg Household Size
24
Median Age
66%
College-Educated
95%
High-School Grad
1.3 sq mi
ZIP Area
12,705
Density / Sq Mi
$37,598
Median Household Income
$8,819
Median Earnings
$1,533
Median Rent
$436,100
Median Home Value
Market
Vacancy Rate% for Industrial in Madison, WI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 16,280 sq. ft. warehouse/office/workshop with easy highway access.
Where is this flex space located?
The property is located at 1335 & 1337 Gilson Street Madison, WI.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 16,280 sq. ft. warehouse/office/workshop space.; Quick access to the Beltline, major highways, and Downtown Madison.; Adaptable two‑unit property suitable for various business uses.
