Renovated Office Condominium
781 Lois Drive Sun Prairie, WI 53590
781 Lois Drive, Sun Prairie, WI, 53590
Contact for pricing
For Sale
Contact for pricing
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 Market70
Property Features for 781 Lois Drive
General Information
- Standard status
- Active
- Size
- 3,600 SF
- Property subtype
- Office
Building Details
- Year Built
- 2001
Listing agency
Cresa Madison
Listed by
TJ Blitz · License #WI
Source
Crexi
Added: May 13 Updated: Jul 21 at 6:35AM Checked: Jul 21 at 6:35AM
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
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $79.1k | $21.96 |
| − Vacancy | −$12.6k | −$3.51 |
| EGI | $66.4k | $18.45 |
| − OpEx | −$16.6k | −$4.61 |
| NOI | $49.8k | $13.83 |
3,600 SF · lease $21.96/SF/yr · vacancy 16.00% · expense 25.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
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
