Two-Story Flex
For Sale
$600,000
5283-5291 Felland Rd, Madison, WI 53718
Combined office, shop, and warehouse space with General Commercial zoning and surface parking for equipment, employees, and customers.
Property Size5,710 SF
Lot Size0.81 Acres
Price / SF$105.08
Days on Market87
Property Features for 5283-5291 Felland Rd
General Information
Standard status
Active
Size
5,710 SF
Lot size
0.81 Acres
Zoning
General Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Drive-In Doors
1
Building Details
Year Built
1960
Buildings
1
Stories
2
Building Size
5,710 SF
Construction
concrete and steel frame
Listing Agency:
Masters-Hall
Listed By:
Tyson Hall · License #5651690
(608) 203-6235
Source:
Soldinmadison
Added: Jul 20
Changed: Oct 3
Last Checked: Oct 7 at 1:53PM
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 Masters-Hall
Investment Insights
Based on property information with market context.
This two-story flex property combines approximately 5,710 square feet of office, shop, and warehouse space across two adjacent parcels totaling 35,153 square feet of land. The lower level includes shop space with an overhead door, while the first floor provides finished office space with two entrances. Concrete construction and a steel frame support the building’s physical configuration, and General Commercial zoning allows uses including contractor operations, landscaping, building trades, light industrial activity, and daycare.
Surface parking accommodates equipment, employees, and customers. The property also offers access to Highway 151 and Interstate 90, supporting connections to the surrounding area. Built in 1960, the building presents a combination of office and service-oriented space within a multi-parcel commercial setting.
Surface parking accommodates equipment, employees, and customers. The property also offers access to Highway 151 and Interstate 90, supporting connections to the surrounding area. Built in 1960, the building presents a combination of office and service-oriented space within a multi-parcel commercial setting.
Key Highlights
- Approximately 5,710 square feet of office, shop, and warehouse space
- Two adjacent parcels totaling 35,153 square feet of land
- General Commercial zoning with contractor, landscaping, building trades, light industrial, and daycare uses permitted
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,522
Cap Rate
7.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$950,440
$950.4K
Cap Rate 7%
$678,886
$678.9K
Cap Rate 9%
$528,022
$528.0K
Market Conditions
NOI Build-Up for 5,710 SF
Gross rent
$75.4K $13.20/SF
− Vacancy
−$2.3K −$0.40/SF
EGI
$73.1K $12.80/SF
− OpEx
−$25.6K −$4.48/SF
NOI
$47.5K $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 Rate 5%
$950,440
Cap Rate 7%
$678,886
Cap Rate 9%
$528,022
Alternative Uses
Best Use
Office B
$1.38M
$1.20M – $1.61M
NOI $96,325 @ 7.0% cap · market cap 16.05%
Second Best
Flex RnD
$678.9K
$594.0K – $792.0K
NOI $47,522 @ 7.0% cap · market cap 7.92%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $116,758 @ 7.0% cap · market cap 19.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
327
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 53718, WI
17,034
Population
8,408
Households
2
Avg Household Size
37
Median Age
49%
College-Educated
96%
High-School Grad
20.8 sq mi
ZIP Area
819
Density / Sq Mi
$94,899
Median Household Income
$60,518
Median Earnings
$1,606
Median Rent
$328,500
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 - Combined office, shop, and warehouse space with General Commercial zoning and surface parking for equipment, employees, and customers.
Where is this flex space located?
The property is located at 5283-5291 Felland Rd Madison, WI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Approximately 5,710 square feet of office, shop, and warehouse space; Two adjacent parcels totaling 35,153 square feet of land; General Commercial zoning with contractor, landscaping, building trades, light industrial, and daycare uses permitted
