Two-Level Warehouse with
For Sale
$599,900
3345 Highway 151, Sun Prairie, WI 53590
Business/Comm, Sun Prairie, WI
Property Size3,800 SF
Lot Size0.97 Acres
Price / SF$154.30
Days on Market70
Property Features for 3345 Highway 151
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-1
Security features
Security System, Security Lighting
Interior features
3 phase electric, Security system, Inside storage, Security lighting
Lot features
Business district, Near Major Highway, Residential area
Directions
151 to south on Reiner to O'Keeffe left on Jenny Wren. Access: Left on Gravel off of Jenny Wren Trail.
Subdivision
BURKE - T
Standard status
Active
APN
0810-123-9590-4
Size
3,888 SF
Lot size
0.97 Acres
Taxes and HOA fees
Tax Year
2022
Tax Annual Amount
2981
Building Details
Year built
1990
Number of units
1
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Keller Williams Realty
(608) 831-0800
Listed By:
Jeffrey Wood · License #4749694
(608) 215-4300
Added: Jun 24
Changed: Aug 31
Last Checked: Sep 1 at 12:06AM
MLS# 1959054
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 warehouse property includes a 3,888-square-foot Cleary building on 0.97 acres in the Town of Burke. The structure has two levels, a concrete main-floor slab, insulated drywall at the sidewalls and ceiling, and a vaulted upper level reached by interior stairs. Existing wall construction on the main floor provides the basis for office space. In-floor heat is installed but requires a boiler and copper before operation.
The property is located at 3345 Highway 151 in Sun Prairie, with access to the interstate corridor. A well was installed in 2002–04, and the building has a metal roof, three-phase electric service, a security system, security lighting, and indoor storage areas.
The property is located at 3345 Highway 151 in Sun Prairie, with access to the interstate corridor. A well was installed in 2002–04, and the building has a metal roof, three-phase electric service, a security system, security lighting, and indoor storage areas.
Key Highlights
- 3,888‑square‑foot warehouse building on 0.97 acres
- 36x108 Cleary building with two levels and vaulted upper floor
- C‑1 zoning in the Town of Burke
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
$46,352
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
7.73%
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%
$927,040
$927.0K
Cap Rate 7%
$662,171
$662.2K
Cap Rate 9%
$515,022
$515.0K
Market Conditions
NOI Build-Up for 3,888 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
$56.0K $14.40/SF
− Vacancy
−$1.5K −$0.37/SF
EGI
$54.5K $14.03/SF
− OpEx
−$8.2K −$2.10/SF
NOI
$46.4K $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 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%
$927,040
Cap Rate 7%
$662,171
Cap Rate 9%
$515,022
Alternative Uses
Best Use
Warehouse
$662.2K
$579.4K – $772.5K
NOI $46,352 @ 7.0% cap · market cap 7.73%
Second Best
Industrial
$545.3K
$477.2K – $636.2K
NOI $38,172 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$903.5K
$790.6K – $1.05M
NOI $63,244 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
277
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53590, WI
43,684
Population
18,292
Households
2.4
Avg Household Size
37
Median Age
52%
College-Educated
97%
High-School Grad
65.9 sq mi
ZIP Area
663
Density / Sq Mi
$96,497
Median Household Income
$57,711
Median Earnings
$1,375
Median Rent
$354,700
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.
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Frequently Asked Questions
What type of property is this?
Warehouse - C-1-zoned warehouse property with office buildout potential and secured interior storage.
Where is this warehouse located?
The property is located at 3345 Highway 151 Sun Prairie, WI.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 3,888‑square‑foot warehouse building on 0.97 acres; 36x108 Cleary building with two levels and vaulted upper floor; C‑1 zoning in the Town of Burke
