Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Leased Retail Property For Sale Title is generated by Realmo AI

    513-515 W Main St., Sun Prairie, WI 53590

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Fully leased retail property in Sun Prairie, Wisconsin.

    Type:Retail
    Property size:
    3,200 SF
    Price / SF:
    $148/SF
    Added:
    May 13, 2026
    Days on Market:
    18
    Last Refresh:
    May 16 at 8:42 pm

    Property Features for 513-515 W Main St.

    General Information

    Standard status
    Active
    Size
    3,200 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    TJ Blitz

    Listing agent TJ Blitz License #WI

    Listing office Cresa Madison

    Listing date May 13, 2026

    Source Crexi

    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 Cresa Madison

    HighLights

    • Fully leased retail property providing stable income.
    • Tenants pay utilities.
    • Recent roof replacement (4 years ago).
    • Located in Sun Prairie, Wisconsin.
    • Includes three tenants: Friesen Chiropractic, Peaceful Hands Therapeutic Massage, and Sunny Nutrition.
    • New water heater installed in 2026.

    Overview

    This is a fully leased retail property located in Sun Prairie, Wisconsin. The property is occupied by three tenants: Friesen Chiropractic, Peaceful Hands Therapeutic Massage, and Sunny Nutrition. The tenants are responsible for covering the utilities. The landlord is responsible for lawn care, snow removal, garbage disposal, and property taxes. The property has a total size of 3200 square feet. Recent improvements to the property include a new roof installed 4 years ago and a new water heater planned for 2026. The property offers stable income.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $48.0k $15.00
    − Vacancy −$4.2k −$1.31
    EGI $43.8k $13.70
    − OpEx −$13.1k −$4.11
    NOI $30.7k $9.59
    3,200 SF · lease $15.00/SF/yr · vacancy 8.70% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $438.2K
    $383.5K – $511.3K (±1% cap)
    NOI $30,677 @ 7.0% cap · market cap 6.46%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $743.6K
    $650.7K – $867.6K (±1% cap)
    NOI $52,053 @ 7.0% cap · market cap 10.96%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sun Prairie
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.208441
    Latitude
    43.1819352

    Nearby Similar for Sale

    • $599,900
      3,800 SF

      Highway 151 Commercial Opportunity

      High-traffic location with Cleary building near interstate.
      3345 Highway 151, Sun Prairie, WI 53590
      View Details
    • $1,050,000

      Former Bank Branch on Broadway

      High-visibility commercial property with drive-through and expansion potential.
      550 Broadway Drive, Sun Prairie, WI 53590
      View Details
    • $769,000

      Mixed-Use Building in Sun Prairie

      Mixed-use property with residential and commercial units in Sun Prairie.
      530 W Main Street, Sun Prairie, WI 53590
      View Details
    • $995,000
      3,692 SF

      Former Restaurant Building For Sale

      3,692 SF former restaurant outlot next to Pick'n Save.
      606 E Main St | Sun Prairie, WI 53590
      View Details
    • $514,900

      Historic Downtown Sun Prairie Property

      Mixed-use property in Sun Prairie's vibrant historic downtown.
      104 E Main Street, Sun Prairie, WI 53590
      View Details
    • $314,900
      1,242 SF

      Spacious Ranch Condominium with Updates

      Two-bedroom, two-bath condo with sunroom, deck, and walkout lower level.
      623 Wood Violet Lane, Unit 105, Sun Prairie, WI 53590
      View Details
    • $550,000
      6,064 SF

      Sun Prairie Commercial Space Available

      Commercial space with new roof and windows, suitable for retail.
      431 Linnerud, Sun Prairie, WI 53590
      View Details
    • $300,000
      1,483 SF

      Sun Prairie Condominium Home

      Condominium in Sun Prairie near shopping and dining.
      2998 Triumph Drive, Unit 3, Sun Prairie, WI 53590
      View Details
    • $1,100,000

      Newly Constructed Retail Building

      New retail building with long-term ground lease.
      840 Bunny Trail | Sun Prairie, WI 53590
      View Details
    • $599,900
      2,500 SF

      Sun Prairie Duplex For Sale

      Updated duplex in Sun Prairie, WI. One unit vacant.
      903 Clarmar Drive, Sun Prairie, WI 53590
      View Details
    • Contact for pricing

      Retail Space in Sun Prairie

      Retail spaces available at West Main Street & South Grand.
      2651 West Main Street & 160 South Grand Avenue | Sun Prairie, WI 53718
      View Details
    • $569,900

      Remodeled Duplex with Upgrade Potential

      Sun Prairie duplex with one remodeled unit and upgrade potential.
      1926 Wyoming Avenue, Sun Prairie, WI 53590
      View Details

    FAQs

    What type of property is this?
    Retail space - Fully leased retail property in Sun Prairie, Wisconsin.
    Where is this retail space located?
    The property is located at 513-515 W Main St. Sun Prairie, WI.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: Fully leased retail property providing stable income.; Tenants pay utilities.; Recent roof replacement (4 years ago).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    TJ Blitz
    Real Estate License ID: WI
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    513-515 W. Main St., Sun Prairie, WI 53590
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!