Listing Agency: Judd Realty, LLC i***@juddrealtyllc.com

Listed By: Jamie Judd · License #8040294 Show Phone

Source: Exprealty

Added: Jun 17 Changed: Sep 10 Last Checked: Sep 13 at 10:52AM

Report an Issue

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 Judd Realty, LLC

Investment Insights

Based on property information with market context.

Situated in Hillpoint, WI, this flexible commercial property includes an approximately 7,000 sq ft open building with about 640 sq ft of dedicated office space. The layout is designed to support a wide range of commercial or industrial uses, with a practical separation between workspace and day-to-day operations. The seller will leave the boiler system, and the building currently does not have electricity, instead running off solar power.

The property sits on approximately 5 acres of productive, tillable land that is leased through 2026. Electricity is located at the lot line along the road, providing an option for future connection. The acreage also allows for expansion, equipment storage, or other future development uses as the business needs change. More land is available.

Key Highlights

• Approximately 7,000 SF open commercial building on 5 acres of productive, tillable land
• Includes approximately 640 SF dedicated office space for day‑to‑day operations
• Building is currently powered by solar; electricity is available at the lot line along the road

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

$31,237

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

7.62%

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%

$624,740 $624.7K

Cap Rate 7%

$446,243 $446.2K

Cap Rate 9%

$347,078 $347.1K

Market Conditions

NOI Build-Up for 7,000 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

$47.9K $6.84/SF

− Vacancy

−$3.3K −$0.47/SF

EGI

$44.6K $6.37/SF

− OpEx

−$13.4K −$1.91/SF

NOI

$31.2K $4.46/SF

Area

Sauk County, WI

Vacancy

6.80%

Lease Rate

$6.84 /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%

$624,740

Cap Rate 7%

$446,243

Cap Rate 9%

$347,078

Alternative Uses

Best Use

Flex RnD

$574.3K

$502.5K – $670.0K (±1% cap)

NOI $40,201 @ 7.0% cap · market cap 9.81%

Second Best

Warehouse

$541.9K

$474.1K – $632.2K (±1% cap)

NOI $37,931 @ 7.0% cap · market cap 9.25%

Theoretical Best

Office A

$1.42M

$1.24M – $1.65M (±1% cap)

NOI $99,187 @ 7.0% cap · market cap 24.19%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Grocery & Convenience Store Food Market

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

4

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 53937, WI

1,172

Population

382

Households

3.1

Avg Household Size

35

Median Age

18%

College-Educated

80%

High-School Grad

52.6 sq mi

ZIP Area

22

Density / Sq Mi

$86,957

Median Household Income

$44,194

Median Earnings

$970

Median Rent

$261,700

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Flex space - Open commercial building with dedicated office space, currently powered by solar, plus leased tillable land through 2026.

Where is this flex space located?

The property is located at 5A Sandusky Rd Hillpoint, WI.

What is the asking price?

The asking price for this property is $410,000.

What are key features of this property?

This property features: Approximately 7,000 SF open commercial building on 5 acres of productive, tillable land; Includes approximately 640 SF dedicated office space for day‑to‑day operations; Building is currently powered by solar; electricity is available at the lot line along the road