Flex Space with Three
For Sale
$395,000
8 Commerce Street, Mineral Point, WI 53565
Business/Comm, Mineral Point, WI
Property Size2,624 SF
Lot Size0.75 Acres
Price / SF$150.53
Days on Market51
Property Features for 8 Commerce Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Interior features
Overhead doors, Public rest rooms, Shared Restrooms, 440+ volt, Reception area, Inside storage, Outside storage, Private office(s)
Lot features
Business district, Free standing
Directions
From Hwy 23, at stop sign, turn left onto Commerce St, go past South St & property is on the right.
Subdivision
MINERAL POINT - C
Standard status
Active
APN
251-0851
Size
2,624 SF
Lot size
0.75 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
5044
Building Details
Year built
2008
Number of units
3
Roof type
Composition
Additional Structures
Storage
Listing Agency:
1st Advantage Real Estate
(608) 341-7017
Listed By:
Wendy Kearns · License #81810-94
(608) 574-5284
Added: Jul 13
Changed: Aug 31
Last Checked: Sep 1 at 4:06AM
MLS# 1990710
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 2,624-square-foot flex property, built in 2008, includes three buildings and an open interior layout. The main building features radiant floor heat, a reception area, private offices, public and shared restrooms, inside storage, outside storage, overhead doors, and 440+ volt service. A two-car garage includes radiant-floor tubing ready for hookup, adding to the property’s functional configuration. The composition roof completes the improvements.
Located at 8 Commerce Street in Mineral Point’s historical commercial district, the property sits directly across from the Cheese Country ATV/Snowmobile Trail. Commercial zoning supports its business-oriented setting, while the combination of multiple structures, office areas, garage space, and storage provides a flexible physical layout for a range of commercial operations, subject to permitted-use verification.
Located at 8 Commerce Street in Mineral Point’s historical commercial district, the property sits directly across from the Cheese Country ATV/Snowmobile Trail. Commercial zoning supports its business-oriented setting, while the combination of multiple structures, office areas, garage space, and storage provides a flexible physical layout for a range of commercial operations, subject to permitted-use verification.
Key Highlights
- 2,624 SF flex property on 0.75 acres
- Three‑building configuration with open interior layout
- Built in 2008 with radiant floor heat in the main building
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
$21,839
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
5.53%
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%
$436,780
$436.8K
Cap Rate 7%
$311,986
$312.0K
Cap Rate 9%
$242,656
$242.7K
Market Conditions
NOI Build-Up for 2,624 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
$34.6K $13.20/SF
− Vacancy
−$1.0K −$0.40/SF
EGI
$33.6K $12.80/SF
− OpEx
−$11.8K −$4.48/SF
NOI
$21.8K $8.32/SF
Area
Iowa County, WI
Vacancy
3.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
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%
$436,780
Cap Rate 7%
$311,986
Cap Rate 9%
$242,656
Alternative Uses
Best Use
Flex RnD
$312.0K
$273.0K – $364.0K
NOI $21,839 @ 7.0% cap · market cap 5.53%
Second Best
Industrial
$197.9K
$173.2K – $230.9K
NOI $13,854 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$766.5K
$670.7K – $894.3K
NOI $53,656 @ 7.0% cap · market cap 13.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
Under-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 Industrial 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 - Commercially zoned flex property with open interior space, overhead doors, multiple storage areas, and private office space.
Where is this flex space located?
The property is located at 8 Commerce Street Mineral Point, WI.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 2,624 SF flex property on 0.75 acres; Three‑building configuration with open interior layout; Built in 2008 with radiant floor heat in the main building
