Office-Flex Building with Renovated
New
For Sale
Contact for pricing
4902 Hammersley Rd, Madison, WI 53711
Two-story office improvements accompany warehouse space, conference rooms, private offices, kitchens, and flexible work areas.
Property Size41,000 SF
Price / SF$146.95
Days on Market6
Property Features for 4902 Hammersley Rd
General Information
Standard status
Active
Size
41,000 SF
Property subtype
OFFICE
Listing Agency:
CBRE, Inc.
(608) 332-6561
Listed By:
Chase Brieman · License #54278
(608) 332-6561
Source:
Moodyscre
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 29 at 5:17PM
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 CBRE, Inc.
Investment Insights
Based on property information with market context.
This 41,000-square-foot flex property combines office improvements with warehouse space. The building includes a recently renovated two-story office component, a single-story central office area, and a modern single-story warehouse/flex section. Interior features include open work areas, collaboration zones, conference rooms in multiple sizes, private offices, and kitchen facilities.
The property is located at 4902 Hammersley Rd in Madison, Wisconsin, along the Beltline Highway. Approximately 100 surface parking spaces sit next to the building, with a second parking lot directly across the street. The configuration supports office, light industrial, and service-oriented functions within one facility.
The property is located at 4902 Hammersley Rd in Madison, Wisconsin, along the Beltline Highway. Approximately 100 surface parking spaces sit next to the building, with a second parking lot directly across the street. The configuration supports office, light industrial, and service-oriented functions within one facility.
Key Highlights
- 41,000‑square‑foot building with office and flex/warehouse space
- Recently renovated two‑story office component
- Interior mix includes open work areas, collaboration zones, conference rooms, private offices, and kitchens
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
$341,227
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
5.66%
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%
$6,824,540
$6.8M
Cap Rate 7%
$4,874,671
$4.9M
Cap Rate 9%
$3,791,411
$3.8M
Market Conditions
NOI Build-Up for 41,000 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
$541.2K $13.20/SF
− Vacancy
−$16.2K −$0.40/SF
EGI
$525.0K $12.80/SF
− OpEx
−$183.7K −$4.48/SF
NOI
$341.2K $8.32/SF
Area
Madison, 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%
$6,824,540
Cap Rate 7%
$4,874,671
Cap Rate 9%
$3,791,411
Alternative Uses
Best Use
Office B
$9.88M
$8.65M – $11.53M
NOI $691,654 @ 7.0% cap · market cap 11.48%
Second Best
Flex RnD
$4.87M
$4.27M – $5.69M
NOI $341,227 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$11.98M
$10.48M – $13.97M
NOI $838,368 @ 7.0% cap · market cap 13.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53711, WI
51,448
Population
23,500
Households
2.2
Avg Household Size
37
Median Age
66%
College-Educated
97%
High-School Grad
26.0 sq mi
ZIP Area
1,979
Density / Sq Mi
$101,236
Median Household Income
$55,284
Median Earnings
$1,357
Median Rent
$387,600
Median Home Value
Market
Vacancy Rate% for Office in Madison, WI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two-story office improvements accompany warehouse space, conference rooms, private offices, kitchens, and flexible work areas.
Where is this flex space located?
The property is located at 4902 Hammersley Rd Madison, WI.
What is the asking price?
The asking price for this property is $6,025,000.
What are key features of this property?
This property features: 41,000‑square‑foot building with office and flex/warehouse space; Recently renovated two‑story office component; Interior mix includes open work areas, collaboration zones, conference rooms, private offices, and kitchens
