Insulated Flex Building with Garage
For Sale
$225,000
308 N Montgomery Street, Dodgeville, WI 53533
COMMERCIAL - Dodgeville, WI
Property Size1,728 SF
Lot Size0.21 Acres
Price / SF$130.21
Days on Market64
Property Features for 308 N Montgomery Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Lot features
Free standing
Directions
Hwy 18 W to Dodgeville, L at 2nd light (N Bequette St), R on Diagonal St and then first immediate left and property is off the alley.
Subdivision
DODGEVILLE - C
Standard status
Active
APN
216-0342
Size
1,728 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1404
Building Details
Year built
2000
Number of units
1
Roof type
Shingle
Listing Agency:
Potterton Rule Real Estate LLC
(608) 935-2396
Listed By:
Andrea Potterton
(608) 341-8045
Added: Jun 10
Changed: Aug 12
Last Checked: Aug 12 at 8:06AM
MLS# 2022612
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.
This 1,728-square-foot flex building offers a zero-entry layout and was most recently used as a clean garage and shop. Built in 2000, the property includes a one-stall toilet, utility sink, two garage doors measuring 8' x 10' with openers, and 240V electrical service. The building is well insulated and can be adapted for office space or other business requirements, with room available for an addition.
Located at 308 N Montgomery Street in Dodgeville, Wisconsin, the property carries Commercial zoning. Its combination of vehicle access, shop functionality, and flexible interior planning supports a range of commercial configurations.
Located at 308 N Montgomery Street in Dodgeville, Wisconsin, the property carries Commercial zoning. Its combination of vehicle access, shop functionality, and flexible interior planning supports a range of commercial configurations.
Key Highlights
- 1,728‑square‑foot flex building on 0.21 acres
- Zero‑entry commercial building with two 8' x 10' garage doors and openers
- 240V service and substantial insulation
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
$14,381
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
6.39%
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%
$287,620
$287.6K
Cap Rate 7%
$205,443
$205.4K
Cap Rate 9%
$159,789
$159.8K
Market Conditions
NOI Build-Up for 1,728 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
$22.8K $13.20/SF
− Vacancy
−$684 −$0.40/SF
EGI
$22.1K $12.80/SF
− OpEx
−$7.7K −$4.48/SF
NOI
$14.4K $8.32/SF
Area
Iowa 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%
$287,620
Cap Rate 7%
$205,443
Cap Rate 9%
$159,789
Alternative Uses
Best Use
Flex RnD
$205.4K
$179.8K – $239.7K
NOI $14,381 @ 7.0% cap · market cap 6.39%
Second Best
Industrial
$130.3K
$114.1K – $152.1K
NOI $9,124 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$504.8K
$441.7K – $588.9K
NOI $35,334 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53533, WI
7,306
Population
3,557
Households
2.1
Avg Household Size
44
Median Age
31%
College-Educated
95%
High-School Grad
142.1 sq mi
ZIP Area
51
Density / Sq Mi
$82,731
Median Household Income
$48,228
Median Earnings
$976
Median Rent
$255,200
Median Home Value
Market
Vacancy Rate% for Industrial 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 - Commercial flex space with shop utility, vehicle access, and adaptable interior configuration.
Where is this flex space located?
The property is located at 308 N Montgomery Street Dodgeville, WI.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,728‑square‑foot flex building on 0.21 acres; Zero‑entry commercial building with two 8' x 10' garage doors and openers; 240V service and substantial insulation
