645 Sandpiper Trl, Cottage Grove, WI 53527

Listing Agency: American, REALTORS c***@showings.com Show Phone

Listed By: David Baehr · License WI #5260990 Show Phone

Source: Exprealty

Added: Jan 26 Changed: Aug 8 Last Checked: Aug 25 at 6:58AM

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Investment Insights

Based on property information with market context.

This is an exceptional investment opportunity to acquire a new 19,623 square foot flex complex located in Cottage Grove. The property is designed for retail, office, and warehouse use. It is strategically located in the expanding Madison economic hub, offering visibility, accessibility, and long-term appreciation potential. The property is secured by a high-quality tenant under a 10-year lease with 2% annual rent increases, delivering a 7.3% cap rate and reliable cash flow. Combining new construction with a strong tenant commitment, this asset offers investors a secure, low-maintenance property positioned for both immediate income and sustained growth in a thriving market.

Key Highlights

• New 19,623 SF flex complex in rapidly growing Cottage Grove.
• Secured by a 10‑year lease with New Tech, a high‑quality tenant.
• Generates a solid 7.3% cap rate with reliable cash flow.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$271,480

Cap Rate

5.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,429,600 $5.4M

Cap Rate 7%

$3,878,286 $3.9M

Cap Rate 9%

$3,016,444 $3.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 19,623 SF

Gross rent

$430.9K $21.96/SF

− Vacancy

−$68.9K −$3.51/SF

EGI

$362.0K $18.45/SF

− OpEx

−$90.5K −$4.61/SF

NOI

$271.5K $13.83/SF

Area

Dane County, WI

Vacancy

16.00%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,429,600

Cap Rate 7%

$3,878,286

Cap Rate 9%

$3,016,444

Alternative Uses

Best Use

Office B

$3.88M

$3.39M – $4.52M (±1% cap)

NOI $271,480 @ 7.0% cap · market cap 5.54%

Second Best

Warehouse

$3.34M

$2.92M – $3.90M (±1% cap)

NOI $233,941 @ 7.0% cap · market cap 4.77%

Theoretical Best

Office A

$4.56M

$3.99M – $5.32M (±1% cap)

NOI $319,198 @ 7.0% cap · market cap 6.51%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Building Supply Restaurant Law Firm Real Estate Agency Hair Salon Big Box & Wholesale Store

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

156

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 53527, WI

10,994

Population

4,732

Households

2.3

Avg Household Size

40

Median Age

48%

College-Educated

99%

High-School Grad

35.8 sq mi

ZIP Area

307

Density / Sq Mi

$119,808

Median Household Income

$60,027

Median Earnings

$1,531

Median Rent

$402,500

Median Home Value

Market

Average Price Trend$/SF for Flex space in Dane County, WI

$126 Jul

$139 Aug

$143 Sep

$181 Oct

Properties on Market for Flex space in Dane County

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - New flex complex in Cottage Grove with long-term tenant.

Where is this flex space located?

The property is located at 645 Sandpiper Trl Cottage Grove, WI.

What is the asking price?

The asking price for this property is $4,900,000.

What are key features of this property?

This property features: New 19,623 SF flex complex in rapidly growing Cottage Grove.; Secured by a 10‑year lease with New Tech, a high‑quality tenant.; Generates a solid 7.3% cap rate with reliable cash flow.