Warehouse Condo with
New
For Sale
$304,900
644 Liberty Dr Unit 200, Verona, WI 53593
Customizable warehouse condo with private clubhouse, individual heating, and bathroom rough-ins.
Property Size1,250 SF
Price / SF$243.92
Days on Market3
Property Features for 644 Liberty Dr Unit 200
General Information
Standard status
Active
Size
1,250 SF
Building Details
Year Built
2025
Listing Agency:
Great Rock Realty LLC
Listed By:
Keith Schulz · License #5725690
(608) 492-2272
Source:
Soldinmadison
Added: Sep 15
Last Checked: Sep 16 at 11:49PM
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 Great Rock Realty LLC
Investment Insights
Based on property information with market context.
This 1,250-square-foot warehouse condo offers a 25’ x 50’ nominal layout within a 2025-built project. The unit includes an individual furnace, 125-amp electrical panel, separate utility metering, and bathroom rough-ins. Interior options include mezzanines, lifts, epoxy flooring, and other owner-selected improvements.
Owners have access to a finished private clubhouse at 644 Liberty Dr in Verona, Wisconsin. The shared facility includes two bathrooms, a kitchen and bar area, conference table, lounge seating, and recreation space. Additional unit configurations are available in 25’ x 40’, 50’ x 40’, and 50’ x 50’ sizes, providing alternatives for storage, workshop, collector, and recreational-use needs.
Owners have access to a finished private clubhouse at 644 Liberty Dr in Verona, Wisconsin. The shared facility includes two bathrooms, a kitchen and bar area, conference table, lounge seating, and recreation space. Additional unit configurations are available in 25’ x 40’, 50’ x 40’, and 50’ x 50’ sizes, providing alternatives for storage, workshop, collector, and recreational-use needs.
Key Highlights
- 1,250‑square‑foot warehouse condo
- 25’ x 50’ nominal unit dimensions
- 2025‑built property with individual furnace
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
$14,902
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
4.89%
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%
$298,040
$298.0K
Cap Rate 7%
$212,886
$212.9K
Cap Rate 9%
$165,578
$165.6K
Market Conditions
NOI Build-Up for 1,250 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
$18.0K $14.40/SF
− Vacancy
−$468 −$0.37/SF
EGI
$17.5K $14.03/SF
− OpEx
−$2.6K −$2.10/SF
NOI
$14.9K $11.92/SF
Area
Dane County, WI
Vacancy
2.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
15.00%
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%
$298,040
Cap Rate 7%
$212,886
Cap Rate 9%
$165,578
Alternative Uses
Best Use
Warehouse
$212.9K
$186.3K – $248.4K
NOI $14,902 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$290.5K
$254.2K – $338.9K
NOI $20,333 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53593, WI
28,232
Population
12,583
Households
2.2
Avg Household Size
37
Median Age
68%
College-Educated
99%
High-School Grad
76.2 sq mi
ZIP Area
370
Density / Sq Mi
$135,699
Median Household Income
$74,356
Median Earnings
$1,530
Median Rent
$464,700
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Warehouse - Customizable warehouse condo with private clubhouse, individual heating, and bathroom rough-ins.
Where is this warehouse located?
The property is located at 644 Liberty Dr Unit 200 Verona, WI.
What is the asking price?
The asking price for this property is $304,900.
What are key features of this property?
This property features: 1,250‑square‑foot warehouse condo; 25’ x 50’ nominal unit dimensions; 2025‑built property with individual furnace
