Auto Shop with Paint
For Sale
$480,000
590 Commercial Avenue, Waterloo, WI 53594
COMMERCIAL - Waterloo, WI
Property Size4,000 SF
Lot Size1.08 Acres
Price / SF$120
Days on Market17
Property Features for 590 Commercial Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Security features
Security System
Interior features
Overhead doors, Truck dr(s) 15ft or lower, Private Restrooms, Less than 440 volt, 3 phase electric, Security system, Garage Door Opener
Lot features
High Traffic Location, High Visibility, Industrial park, Near Major Highway
Directions
From Downtown Waterloo, Hwy 19 East to Industrial Drive, RT on Commercial.
Subdivision
WATERLOO - C
Standard status
Active
APN
290-0813-0542-011
Size
4,000 SF
Lot size
1.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3043
Amenities
office
restroom
paint booth
Building Details
Year built
2008
Number of units
1
Roof type
Metal
Listing Agency:
Century 21 Affiliated · Century 21 Real Estate
(608) 825-7552
Listed By:
Jill Oelke
(608) 575-4933
Added: Jul 25
Changed: Aug 10
Last Checked: Aug 10 at 6:06PM
MLS# 2028834
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 4,000-square-foot auto shop on 1.078 acres was built in 2008 and is zoned Commercial. The facility is configured for auto body collision repair and painting, with an office, private restroom, paint booth, overhead doors, and a metal roof. Interior features include a security system, garage door opener, 3 phase electric, and service rated less than 440 volt.
The property is located in Waterloo's Industrial Park at 590 Commercial Avenue. Four marked parking boxes are provided, with additional side area available for parking. Truck doors accommodate vehicles 15 feet or lower.
The property is located in Waterloo's Industrial Park at 590 Commercial Avenue. Four marked parking boxes are provided, with additional side area available for parking. Truck doors accommodate vehicles 15 feet or lower.
Key Highlights
- 4,000 SF auto body collision repair and paint facility
- 1.078‑acre site in Waterloo's Industrial Park
- Paint booth, office, private restroom, and overhead doors
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
$38,627
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
8.05%
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%
$772,540
$772.5K
Cap Rate 7%
$551,814
$551.8K
Cap Rate 9%
$429,189
$429.2K
Market Conditions
NOI Build-Up for 4,000 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
$57.6K $14.40/SF
− Vacancy
−$2.4K −$0.60/SF
EGI
$55.2K $13.80/SF
− OpEx
−$16.6K −$4.14/SF
NOI
$38.6K $9.66/SF
Area
Jefferson County, WI
Vacancy
4.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$772,540
Cap Rate 7%
$551,814
Cap Rate 9%
$429,189
Alternative Uses
Best Use
Retail
$551.8K
$482.8K – $643.8K
NOI $38,627 @ 7.0% cap · market cap 8.05%
Second Best
Industrial
$520.5K
$455.5K – $607.3K
NOI $36,438 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$938.9K
$821.5K – $1.10M
NOI $65,722 @ 7.0% cap · market cap 13.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
119
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53594, WI
5,324
Population
2,308
Households
2.3
Avg Household Size
42
Median Age
24%
College-Educated
92%
High-School Grad
72.7 sq mi
ZIP Area
73
Density / Sq Mi
$80,000
Median Household Income
$46,206
Median Earnings
$990
Median Rent
$236,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Don's Auto Body & Paint — 590 Commercial Ave, Waterloo, WI 53594
- K & B Auto Services Inc — 606 E Madison St, Waterloo, WI 53594
- Sauer's Engine Shop — 320 Portland Rd, Waterloo, WI 53594
- Beyond Driven Customs — 328 Portland Rd, Waterloo, WI 53594
Frequently Asked Questions
What type of property is this?
Auto shop - Collision repair facility includes office, restroom, paint booth, and overhead doors.
Where is this auto shop located?
The property is located at 590 Commercial Avenue Waterloo, WI.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 4,000 SF auto body collision repair and paint facility; 1.078‑acre site in Waterloo's Industrial Park; Paint booth, office, private restroom, and overhead doors
