Listing Agency: Rodina Real Estate LLC k***@rodinarealestate.com

Listed By: Aaron Boehnen · License #11217894 Show Phone

Source: Exprealty

Added: Feb 3 Changed: Oct 3 Last Checked: Oct 16 at 12:42PM

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Investment Insights

Based on property information with market context.

Unit 4 comprises approximately 1,525 SF within an 8-unit commercial condominium project on 1.746 acres. The space is configured for contractor shop use, with current CUPs covering office, storage, and operations for multiple contractor and trade activities. The broader project has approvals for professional office, trade, contractor, service, warehouse, and office/storage uses.

Current use is restricted to office and storage, with no on-site sales. Additional CUPs may be considered by the Town or County. The driveway entrance must be completed to DOT-approved specifications before closing. Association documents govern signage and shared easements, and a multi-unit purchase option is available.

Key Highlights

• Unit 4 offers approximately 1,525 SF of commercial contractor shop condo space
• Located within a 1.746‑acre, 8‑unit commercial condominium project
• Current CUPs cover office, storage, and operations for multiple contractor and trade uses

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,692

Cap Rate

5.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$253,840 $253.8K

Cap Rate 7%

$181,314 $181.3K

Cap Rate 9%

$141,022 $141.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,525 SF

Gross rent

$20.1K $13.20/SF

− Vacancy

−$604 −$0.40/SF

EGI

$19.5K $12.80/SF

− OpEx

−$6.8K −$4.48/SF

NOI

$12.7K $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 Rate 5%

$253,840

Cap Rate 7%

$181,314

Cap Rate 9%

$141,022

Alternative Uses

Best Use

Flex RnD

$181.3K

$158.7K – $211.5K (±1% cap)

NOI $12,692 @ 7.0% cap · market cap 5.90%

Second Best

Warehouse

$139.7K

$122.2K – $163.0K (±1% cap)

NOI $9,777 @ 7.0% cap · market cap 4.55%

Theoretical Best

Office A

$445.5K

$389.8K – $519.7K (±1% cap)

NOI $31,183 @ 7.0% cap · market cap 14.50%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Auto Repair Shop Building Supply Electrical Service Storage Facility Grocery & Convenience Store Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

55

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 53503, WI

1,923

Population

879

Households

2.2

Avg Household Size

43

Median Age

26%

College-Educated

94%

High-School Grad

56.4 sq mi

ZIP Area

34

Density / Sq Mi

$85,900

Median Household Income

$47,431

Median Earnings

$975

Median Rent

$229,800

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Frequently Asked Questions

What type of property is this?

Flex space - Unit 4 supports office, storage, and contractor operations under current CUPs.

Where is this flex space located?

The property is located at 4-7539 Us Highway 14 Arena, WI.

What is the asking price?

The asking price for this property is $215,000.

What are key features of this property?

This property features: Unit 4 offers approximately 1,525 SF of commercial contractor shop condo space; Located within a 1.746‑acre, 8‑unit commercial condominium project; Current CUPs cover office, storage, and operations for multiple contractor and trade uses