Insulated Flex Building with Garage
For Sale
$225,000
308 N Montgomery Street, Dodgeville, WI 53533
Business/Comm, Dodgeville, WI
Property Size1,728 SF
Lot Size0.21 Acres
Price / SF$130.21
Days on Market23
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: Aug 14
Changed: Aug 31
Last Checked: Sep 5 at 12:06PM
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.
Built in 2000, this 1,728-square-foot commercial flex building offers a zero-entry layout suited to garage or shop operations. The 36-foot by 48-foot structure includes two 8-foot by 10-foot garage doors with openers, 240V electrical service, a one-stall toilet, and a utility sink. A shingle roof and substantial insulation are also in place.
The Commercial-zoned property occupies 0.21 acres in Dodgeville, Wisconsin. The interior can be reconfigured for office space or other business requirements, and the site provides room for a future addition. Its straightforward configuration offers a practical starting point for an owner-user seeking combined workspace and vehicle access.
The Commercial-zoned property occupies 0.21 acres in Dodgeville, Wisconsin. The interior can be reconfigured for office space or other business requirements, and the site provides room for a future addition. Its straightforward configuration offers a practical starting point for an owner-user seeking combined workspace and vehicle access.
Key Highlights
- 1,728‑square‑foot flex building on 0.21 acres
- 36‑foot by 48‑foot zero‑entry building
- Two 8‑foot by 10‑foot garage doors with openers
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 configured for shop use with utility plumbing, strong insulation, and adaptable interior potential.
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; 36‑foot by 48‑foot zero‑entry building; Two 8‑foot by 10‑foot garage doors with openers
