Renovated Office Condominium
For Sale
Contact for pricing
781 Lois Drive, Sun Prairie, WI 53590
A 3,600 SF office condo built in 2001, renovated in 2024 with recent roof and common-area LED improvements.
Property Size3,600 SF
Price / SF$159.72
Days on Market152
Property Features for 781 Lois Drive
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Office
Investment Type
Stabilized
Net Operating Income
$35,562
Building Details
Year Built
2001
Year Renovated
2024
Stories
1
Tenancy
Multi
Listing Agency:
Cresa Madison
Listed By:
Matt Apter · License #WI 53452-90
(608) 852-3001
Source:
Crexi
Added: May 13
Changed: Oct 10
Last Checked: Oct 9 at 6:14PM
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 Cresa Madison
Investment Insights
Based on property information with market context.
This for-sale office condominium unit offers 3,600 SF in a building constructed in 2001 and renovated in 2024. The property includes two tenants, with the landlord responsible for HOA fees, utilities, taxes, and cleaning. Recent capital and interior work includes a new roof installed in 2023, remodeled common areas with LED lighting, and a complete remodel of one tenant space in 2024.
Per the provided information, the unit also reflects net operating income of $35,562. The condominium structure includes shared common areas that have been updated with LED lighting as part of the recent renovations.
Per the provided information, the unit also reflects net operating income of $35,562. The condominium structure includes shared common areas that have been updated with LED lighting as part of the recent renovations.
Key Highlights
- 3,600 SF office condominium unit in Sun Prairie, WI, built in 2001
- Renovated in 2024, including complete remodel of 1 tenant space
- New roof installed in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,805
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$996,100
$996.1K
Cap Rate 7%
$711,500
$711.5K
Cap Rate 9%
$553,389
$553.4K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$79.1K $21.96/SF
− Vacancy
−$12.6K −$3.51/SF
EGI
$66.4K $18.45/SF
− OpEx
−$16.6K −$4.61/SF
NOI
$49.8K $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%
$996,100
Cap Rate 7%
$711,500
Cap Rate 9%
$553,389
Alternative Uses
Best Use
Office B
$711.5K
$622.6K – $830.1K
NOI $49,805 @ 7.0% cap · market cap 8.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$836.6K
$732.0K – $976.0K
NOI $58,560 @ 7.0% cap · market cap 10.18%
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
397
Businesses Nearby
Explore this area
Business Placement
Demographics for 53590, WI
43,684
Population
18,292
Households
2.4
Avg Household Size
37
Median Age
52%
College-Educated
97%
High-School Grad
65.9 sq mi
ZIP Area
663
Density / Sq Mi
$96,497
Median Household Income
$57,711
Median Earnings
$1,375
Median Rent
$354,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - A 3,600 SF office condo built in 2001, renovated in 2024 with recent roof and common-area LED improvements.
Where is this office units located?
The property is located at 781 Lois Drive Sun Prairie, WI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 3,600 SF office condominium unit in Sun Prairie, WI, built in 2001; Renovated in 2024, including complete remodel of 1 tenant space; New roof installed in 2023
