16-Unit Flex Space
For Sale
$260,000
3-811 S Division St, Waunakee, WI 53597
I-1-zoned units are planned with private restrooms, overhead doors, and individual service entrances.
Property Size1,163 SF
Price / SF$223.56
Days on Market11
Property Features for 3-811 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
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 16
Last Checked: Oct 16 at 2:26PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Planned as a 16-unit commercial condominium project, this flex development offers individual 1,163-square-foot units measuring 25 by 46.5 feet, with 18-foot clear height. Each unit is designed with a Modine heater, private bathroom, overhead garage door, service door, and 100-amp electrical service. Optional improvements include a mezzanine, air conditioning, and upgraded power; multiple units may be combined. The units are intended for non-residential use.
The project is near downtown Waunakee and minutes from Highways 113 and 19. Groundbreaking is projected for Spring 2027. The condominium fee covers snow removal, lawn care, trash, water and sewer, and parking.
The project is near downtown Waunakee and minutes from Highways 113 and 19. Groundbreaking is projected for Spring 2027. The condominium fee covers snow removal, lawn care, trash, water and sewer, and parking.
Key Highlights
- 16‑unit commercial condominium development projected to break ground in Spring 2027
- Individual units measure 1,163 square feet, or 25' x 46.5'
- 18' clear height
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 - I-1-zoned units are planned with private restrooms, overhead doors, and individual service entrances.
Where is this flex space located?
The property is located at 3-811 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 commercial condominium development projected to break ground in Spring 2027; Individual units measure 1,163 square feet, or 25' x 46.5'; 18' clear height
