Multi-Tenant Warehouse with
For Sale
Contact for pricing
206 Regas Road, Madison, WI 53714
Warehouse property offering dock loading, showroom and office improvements, mezzanine storage, and substantial electrical capacity.
Property Size63,000 SF
Price / SF$69.84
Days on Market19
Property Features for 206 Regas Road
General Information
Standard status
Active
Size
63,000 SF
Class
C
Total Parking Spaces
40
Property subtype
Industrial
Lease Type
NNN
Investment Type
Value Add
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Asking Price
$4,400,000
Sprinkler System
Yes
Amenities
5 docks
1 drive-in door
conference/break room
showroom
3 private offices
bullpen area
Building Details
Buildings
2
Stories
1
Units
3
Tenancy
Multi
Building Size
63,000 SF
Listing Agency:
Oakbrook Corporation
(608) 444-1911
Listed By:
Chris Caulum, SIOR · License #WI 90-56721
Source:
Crexi
Added: Aug 14
Changed: Aug 31
Last Checked: Aug 31 at 9:30AM
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 Oakbrook Corporation
Investment Insights
Based on property information with market context.
This warehouse property includes a 63,000+ SF building with partial leasing in place and space suitable for an owner-occupant. The property includes showroom and office improvements, along with a 2,700 SF concrete mezzanine used for storage. Finished areas feature a conference and break room, three private offices, a bullpen area, and an expansive showroom. The building also includes five equipped docks, one drive-in door, 600 amps of power, and an installed sprinkler main.
The property is located on Madison’s East Side near US Hwy 51, US Hwy 30, and I-90/94/39. A 37,000+ SF warehouse area is available for lease, with 50% of that space offering 28-foot clear height and the remaining 50% offering 16- to 20-foot clear height.
The property is located on Madison’s East Side near US Hwy 51, US Hwy 30, and I-90/94/39. A 37,000+ SF warehouse area is available for lease, with 50% of that space offering 28-foot clear height and the remaining 50% offering 16- to 20-foot clear height.
Key Highlights
- 63,000+ SF warehouse building with partial leasing and owner‑occupant potential
- 37,000+ SF warehouse area available for lease
- Five equipped dock doors and one drive‑in door
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
$403,906
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
9.18%
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%
$8,078,120
$8.1M
Cap Rate 7%
$5,770,086
$5.8M
Cap Rate 9%
$4,487,844
$4.5M
Market Conditions
NOI Build-Up for 63,000 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
$491.4K $7.80/SF
− Vacancy
−$16.2K −$0.26/SF
EGI
$475.2K $7.54/SF
− OpEx
−$71.3K −$1.13/SF
NOI
$403.9K $6.41/SF
Area
Madison, WI
Vacancy
3.30%
Lease Rate
$7.80 /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%
$8,078,120
Cap Rate 7%
$5,770,086
Cap Rate 9%
$4,487,844
Alternative Uses
Best Use
Retail
$12.87M
$11.26M – $15.02M
NOI $901,122 @ 7.0% cap · market cap 20.48%
Second Best
Flex RnD
$7.49M
$6.55M – $8.74M
NOI $524,324 @ 7.0% cap · market cap 11.92%
Theoretical Best
Office A
$18.40M
$16.10M – $21.47M
NOI $1,288,224 @ 7.0% cap · market cap 29.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
476
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 53714, WI
16,289
Population
7,975
Households
2
Avg Household Size
40
Median Age
40%
College-Educated
95%
High-School Grad
4.6 sq mi
ZIP Area
3,541
Density / Sq Mi
$69,862
Median Household Income
$41,738
Median Earnings
$1,220
Median Rent
$275,000
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?
Warehouse - Warehouse property offering dock loading, showroom and office improvements, mezzanine storage, and substantial electrical capacity.
Where is this warehouse located?
The property is located at 206 Regas Road Madison, WI.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: 63,000+ SF warehouse building with partial leasing and owner‑occupant potential; 37,000+ SF warehouse area available for lease; Five equipped dock doors and one drive‑in door
