Office Building with
For Sale
$1,900,000
711 21st, Prairie du Sac, WI 53578
Three-level office property with residential-style finishes, extensive windows, balconies, and a full kitchen.
Property Size11,020 SF
Price / SF$172.41
Days on Market291
Property Features for 711 21st
General Information
Standard status
Active
Size
11,020 SF
Property subtype
Commercial
Building Details
Year Built
2004
Listing Agency:
Bunbury & Assoc, REALTORS
(608) 963-6023
Listed By:
Daleen Heffron · License #3708790
Source:
Madisonareahomelistings
Added: Nov 12, 2025
Changed: Aug 29
Last Checked: Aug 29 at 5:36PM
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 Bunbury & Assoc, REALTORS
Investment Insights
Based on property information with market context.
Built in 2004, this three-level office property combines commercial construction with a residentially styled interior. Expansive windows, two grand staircases, a gold chandelier, indirect lighting, and 16 exterior columns define the architecture. The layout includes a full kitchen with high-end appliances, three full baths, an elevator serving all levels, a theater room, an exercise room, balconies, and two porches. A large standby generator is also included.
The property occupies approximately 2.8 acres at 711 21st in Prairie Du Sac, Wisconsin, and is currently zoned Hwy Business. Its flexible configuration and substantial amenity package support a range of office-oriented uses, subject to applicable approvals. The parcel may offer division potential, also subject to approvals.
The property occupies approximately 2.8 acres at 711 21st in Prairie Du Sac, Wisconsin, and is currently zoned Hwy Business. Its flexible configuration and substantial amenity package support a range of office-oriented uses, subject to applicable approvals. The parcel may offer division potential, also subject to approvals.
Key Highlights
- Three‑level office building constructed in 2004
- Approximately 2.8 acres with current Hwy Business zoning
- Elevator provides access to all 3 levels
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
$108,305
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
5.70%
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%
$2,166,100
$2.2M
Cap Rate 7%
$1,547,214
$1.5M
Cap Rate 9%
$1,203,389
$1.2M
Market Conditions
NOI Build-Up for 11,020 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
$185.1K $16.80/SF
− Vacancy
−$40.7K −$3.70/SF
EGI
$144.4K $13.10/SF
− OpEx
−$36.1K −$3.28/SF
NOI
$108.3K $9.83/SF
Area
Sauk County, WI
Vacancy
22.00%
Lease Rate
$16.80 /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%
$2,166,100
Cap Rate 7%
$1,547,214
Cap Rate 9%
$1,203,389
Alternative Uses
Best Use
Office B
$1.55M
$1.35M – $1.81M
NOI $108,305 @ 7.0% cap · market cap 5.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,149 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
242
Businesses Nearby
Explore this area
Business Placement
Demographics for 53578, WI
6,556
Population
2,779
Households
2.4
Avg Household Size
42
Median Age
41%
College-Educated
95%
High-School Grad
43.1 sq mi
ZIP Area
152
Density / Sq Mi
$100,194
Median Household Income
$51,196
Median Earnings
$1,141
Median Rent
$333,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Three-level office property with residential-style finishes, extensive windows, balconies, and a full kitchen.
Where is this office building located?
The property is located at 711 21st Prairie du Sac, WI.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Three‑level office building constructed in 2004; Approximately 2.8 acres with current Hwy Business zoning; Elevator provides access to all 3 levels
