Character-Rich Three-Level Office
For Sale
$1,900,000
711 21st Street, Prairie du Sac, WI 53578
COMMERCIAL - Prairie Du Sac, WI
Property Size11,020 SF
Lot Size0.85 Acres
Price / SF$172.41
Days on Market125
Property Features for 711 21st Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Security features
Security Lighting
Interior features
Passenger elevator, Private Restrooms, Shared Restrooms, Reception area, Internal sprinkler, Security lighting, Private office(s)
Accessibility
Accessible Elevator Installed
Lot features
Free standing, Residential area
Directions
US Hwy 12 towards Baraboo, Right on CO RD PF, Left on 21st Street.
Subdivision
PRAIRIE DU SAC - V
Standard status
Active
APN
172-0936-81510
Size
11,020 SF
Lot size
0.85 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
17169
Amenities
theater room
exercise room
balconies
porches
full kitchen
standby generator
Building Details
Year built
2004
Number of units
1
Roof type
Composition
Listing Agency:
Bunbury & Assoc, REALTORS
(608) 643-8525
Listed By:
Daleen Heffron · License #3708790
(608) 963-6023
Added: Apr 8
Changed: Aug 10
Last Checked: Aug 10 at 4:06PM
MLS# 2019582
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.
Built in 2004, this 11,020-square-foot office building combines a residentially influenced interior with commercial construction. The three-level layout includes an elevator, reception area, private offices, three full baths, a full kitchen with high-end appliances, theater and exercise rooms, balconies, and two porches. Architectural elements include expansive windows, dual staircases, 16 exterior columns, a gold chandelier, and indirect lighting. Internal sprinklers, security lighting, accessible elevator service, and a standby generator add to the building’s physical infrastructure.
The property sits on a 0.85-acre parcel in Prairie Du Sac, Wisconsin. Its existing configuration provides a range of enclosed and amenity-oriented spaces within a single office asset, with private restrooms and additional office-support areas. A composition roof is also present.
The property sits on a 0.85-acre parcel in Prairie Du Sac, Wisconsin. Its existing configuration provides a range of enclosed and amenity-oriented spaces within a single office asset, with private restrooms and additional office-support areas. A composition roof is also present.
Key Highlights
- 11,020‑square‑foot office building constructed in 2004
- Three‑level layout with accessible passenger elevator
- Full kitchen, three full baths, theater room, and exercise room
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
124
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 an elevator, private restrooms, kitchen, balconies, and dedicated exercise and theater rooms.
Where is this office building located?
The property is located at 711 21st Street 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: 11,020‑square‑foot office building constructed in 2004; Three‑level layout with accessible passenger elevator; Full kitchen, three full baths, theater room, and exercise room
