Renovated Flex Property with
New
For Sale
$474,900
674 County Road O, Mineral Point, WI 53565
Business/Comm, Mineral Point, WI
Property Size1,607 SF
Lot Size2.88 Acres
Price / SF$295.52
Days on Market4
Property Features for 674 County Road O
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
ag
Interior features
Truck dr(s) hgr than 15ft, Private Restrooms, Shared Restrooms, Residential unit(s), Reception area, Landscaped, Smoke Detectors
Lot features
Corner, High Traffic Location, High Visibility, Near Major Highway
Directions
Take Ridge St to Cty Rd O. Home is on the right.
Subdivision
MINERAL POINT - T
Standard status
Active
APN
018-1047
Size
1,607 SF
Lot size
2.88 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3481
Amenities
open layout
3 private offices
2 bathrooms
full kitchen
flexible areas for reception, meetings, or additional workspace
Building Details
Number of units
1
Roof type
Shingle
Listing Agency:
RE/MAX Preferred · RE/MAX International
(608) 574-9145
Listed By:
Christina Weitzel · License #8555494
(608) 393-3330
Added: Aug 18
Changed: Aug 20
Last Checked: Aug 21 at 1:06AM
MLS# 2030796
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 flex property combines a renovated office building with an optional 60-by-100-foot shed on 2.88 acres. The office contains an open work area, three private offices, two bathrooms, a full kitchen, reception space, and areas suitable for meetings or additional workspace. Interior improvements include new flooring, lighting, plumbing, windows, kitchen components, bathrooms, and appliances. Additional features include a shingle roof, landscaped areas, smoke detectors, and truck doors exceeding 15 feet in height.
The 6,000-square-foot shed adds substantial covered space for workshop activity, equipment storage, warehousing, or operational expansion. The property is located at 674 County Road O in Mineral Point, Wisconsin, and carries AG zoning. The office building may be purchased separately, or the office and shed may be acquired together.
The 6,000-square-foot shed adds substantial covered space for workshop activity, equipment storage, warehousing, or operational expansion. The property is located at 674 County Road O in Mineral Point, Wisconsin, and carries AG zoning. The office building may be purchased separately, or the office and shed may be acquired together.
Key Highlights
- Renovated office building with open layout, 3 private offices, 2 bathrooms, and full kitchen
- Optional 6,000 sq ft shed measuring 60x100 for workshop, storage, or warehouse use
- Situated on 2.88 acres at 674 County Road O, Mineral Point, WI 53565
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
$27,109
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
5.71%
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%
$542,180
$542.2K
Cap Rate 7%
$387,271
$387.3K
Cap Rate 9%
$301,211
$301.2K
Market Conditions
NOI Build-Up for 1,607 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
$42.4K $26.40/SF
− Vacancy
−$6.3K −$3.91/SF
EGI
$36.1K $22.49/SF
− OpEx
−$9.0K −$5.62/SF
NOI
$27.1K $16.87/SF
Area
Iowa County, WI
Vacancy
14.80%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$542,180
Cap Rate 7%
$387,271
Cap Rate 9%
$301,211
Alternative Uses
Best Use
Office B
$387.3K
$338.9K – $451.8K
NOI $27,109 @ 7.0% cap · market cap 5.71%
Second Best
Flex RnD
$191.1K
$167.2K – $222.9K
NOI $13,374 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$469.4K
$410.8K – $547.7K
NOI $32,860 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53565, WI
4,899
Population
2,026
Households
2.4
Avg Household Size
45
Median Age
31%
College-Educated
95%
High-School Grad
186.0 sq mi
ZIP Area
26
Density / Sq Mi
$81,362
Median Household Income
$47,060
Median Earnings
$805
Median Rent
$254,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Renovated office space pairs with a large shed for storage, workshop, or business operations.
Where is this flex space located?
The property is located at 674 County Road O Mineral Point, WI.
What is the asking price?
The asking price for this property is $474,900.
What are key features of this property?
This property features: Renovated office building with open layout, 3 private offices, 2 bathrooms, and full kitchen; Optional 6,000 sq ft shed measuring 60x100 for workshop, storage, or warehouse use; Situated on 2.88 acres at 674 County Road O, Mineral Point, WI 53565
