16-Unit Flex Space
For Sale
$260,000
15-811 S Division St, Waunakee, WI 53597
Planned nonresidential units offer private bathrooms, overhead doors, and options for customized build-outs.
Property Size1,163 SF
Price / SF$223.56
Days on Market23
Property Features for 15-811 S Division St
General Information
Standard status
Active
Size
1,163 SF
Zoning
I-1
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
1
Power
100 amps
Additional Details
Asking Price
$260,000
Property Use
Storage
Listing Agency:
RE/MAX Preferred
(608) 276-8110
Listed By:
Justin Witkins · License #58265-90
(608) 843-5663
Source:
Exprealty
Added: Oct 8
Changed: Oct 26
Last Checked: Oct 28 at 1:47PM
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 RE/MAX Preferred
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Planned for Waunakee, this 16-unit flex condominium development is projected to begin construction in Spring 2027. Each unit is 1,163 square feet, measuring 25 by 46.5 feet, with 18-foot clear height. Standard features include a Modine heater, private bathroom, overhead garage door, service door, and 100-amp electrical service. Mezzanines, air conditioning, and upgraded power are available as build-out options, and multiple units may be combined.
The property is at 15-811 S Division St, near downtown Waunakee and a short drive from HWY 113 and HWY 19. Zoning is I-1. The condominium fee covers snow removal, lawn care, trash, water and sewer, and parking. These units are designated for nonresidential use.
The property is at 15-811 S Division St, near downtown Waunakee and a short drive from HWY 113 and HWY 19. Zoning is I-1. The condominium fee covers snow removal, lawn care, trash, water and sewer, and parking. These units are designated for nonresidential use.
Key Highlights
- 16‑unit flex condominium development projected to break ground in Spring 2027
- Each unit measures 1,163 square feet, or 25 by 46.5 feet, with 18‑foot clear height
- I‑1 zoning; multiple units may be combined
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,865
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$277,300
$277.3K
Cap Rate 7%
$198,071
$198.1K
Cap Rate 9%
$154,056
$154.1K
Market Conditions
NOI Build-Up for 1,163 SF
Gross rent
$16.7K $14.40/SF
− Vacancy
−$435 −$0.37/SF
EGI
$16.3K $14.03/SF
− OpEx
−$2.4K −$2.10/SF
NOI
$13.9K $11.92/SF
Area
Dane County, WI
Vacancy
2.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$277,300
Cap Rate 7%
$198,071
Cap Rate 9%
$154,056
Alternative Uses
Best Use
Warehouse
$198.1K
$173.3K – $231.1K
NOI $13,865 @ 7.0% cap · market cap 5.33%
Second Best
Industrial
$163.1K
$142.7K – $190.3K
NOI $11,418 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$270.3K
$236.5K – $315.3K
NOI $18,918 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
391
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53597, WI
20,729
Population
8,323
Households
2.5
Avg Household Size
41
Median Age
58%
College-Educated
98%
High-School Grad
52.9 sq mi
ZIP Area
392
Density / Sq Mi
$114,542
Median Household Income
$63,700
Median Earnings
$1,336
Median Rent
$462,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Planned nonresidential units offer private bathrooms, overhead doors, and options for customized build-outs.
Where is this flex space located?
The property is located at 15-811 S Division St Waunakee, WI.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: 16‑unit flex condominium development projected to break ground in Spring 2027; Each unit measures 1,163 square feet, or 25 by 46.5 feet, with 18‑foot clear height; I‑1 zoning; multiple units may be combined
