Updated Flex Space with Drive-In
New
For Sale
$379,900
1412 13th Street, Monroe, WI 53566
Business/Comm, Monroe, WI
Property Size4,082 SF
Lot Size0.12 Acres
Price / SF$93.07
Days on Market4
Property Features for 1412 13th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking features
Garage
Interior features
Alley, Overhead doors, Shared Restrooms, Reception area, Display window, Inside storage, Private office(s), Garage Door Opener, Shelving
Lot features
Business district, Free standing
Directions
Highway 69 to east on 11th Street, to south on 13th Avenue, to east on 12th Street, to south on 14th Avenue, to east on 13th Street, to property
Subdivision
MONROE - C
Standard status
Active
APN
251-1579.0000
Size
4,082 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5024
Building Details
Year built
1936
Number of units
1
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
EXIT Professional Real Estate · EXIT Realty
(608) 426-7111
Listed By:
Ryan Ziltner · License #56543-90
(608) 426-1684
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 4:06PM
MLS# 2031163
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.
Investment Insights
Based on property information with market context.
Located at 1412 13th Street in downtown Monroe, this 4,082-square-foot commercial building combines office and flexible work areas with substantial storage. The main floor includes private offices, conference space, restrooms, a reception area, display windows, and a large studio/flex room, along with unfinished storage and mezzanine space.
The lower level adds a workshop, expansive storage, a former metal-working area with full-sized windows, and an oversized garage with an overhead door. Direct drive-in and alley access support practical loading and vehicle movement. The property sits on a 0.12-acre lot, carries Commercial zoning, and dates to 1936. Interior and exterior updates include newer finishes and a newer roof. Downtown restaurants, a brewery, bars, and other entertainment are located nearby.
The lower level adds a workshop, expansive storage, a former metal-working area with full-sized windows, and an oversized garage with an overhead door. Direct drive-in and alley access support practical loading and vehicle movement. The property sits on a 0.12-acre lot, carries Commercial zoning, and dates to 1936. Interior and exterior updates include newer finishes and a newer roof. Downtown restaurants, a brewery, bars, and other entertainment are located nearby.
Key Highlights
- 4,082‑square‑foot commercial building on a 0.12‑acre lot
- Main floor includes offices, conference space, reception, display windows, and studio/flex space
- Lower level features workshop space, expansive storage, and former metal‑working area
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
$33,973
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
8.94%
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%
$679,460
$679.5K
Cap Rate 7%
$485,329
$485.3K
Cap Rate 9%
$377,478
$377.5K
Market Conditions
NOI Build-Up for 4,082 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
$53.9K $13.20/SF
− Vacancy
−$1.6K −$0.40/SF
EGI
$52.3K $12.80/SF
− OpEx
−$18.3K −$4.48/SF
NOI
$34.0K $8.32/SF
Area
Green County, WI
Vacancy
3.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
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%
$679,460
Cap Rate 7%
$485,329
Cap Rate 9%
$377,478
Alternative Uses
Best Use
Office B
$983.7K
$860.8K – $1.15M
NOI $68,862 @ 7.0% cap · market cap 18.13%
Second Best
Flex RnD
$485.3K
$424.7K – $566.2K
NOI $33,973 @ 7.0% cap · market cap 8.94%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,469 @ 7.0% cap · market cap 21.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
774
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53566, WI
14,970
Population
6,810
Households
2.2
Avg Household Size
44
Median Age
26%
College-Educated
93%
High-School Grad
152.9 sq mi
ZIP Area
98
Density / Sq Mi
$71,801
Median Household Income
$41,525
Median Earnings
$849
Median Rent
$203,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Commercially zoned building with offices, studio space, storage, and workshop areas across two levels.
Where is this flex space located?
The property is located at 1412 13th Street Monroe, WI.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: 4,082‑square‑foot commercial building on a 0.12‑acre lot; Main floor includes offices, conference space, reception, display windows, and studio/flex space; Lower level features workshop space, expansive storage, and former metal‑working area
