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    Fully Finished Flex Shop Unit Title is generated by Realmo AI

    8-Unit #8 407 S Wengel Drive, Reedsburg, WI 53959

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    Claim this Listing
    For Sale
    $154,900

    A finished warehouse-style unit with private office, HVAC, overhead door, and 4-inch concrete floors for contractor, light manufacturing, or storage use.

    Property size:
    1,250 SF
    Price / SF:
    $123/SF
    Added:
    May 22, 2026
    Days on Market:
    15
    Last Refresh:
    Jun 5 at 1:45 am

    Property Features for 8-Unit #8 407 S Wengel Drive

    General Information

    Standard status
    Active
    Size
    1,250 SF

    We can help!

    Listing Contact
    Chelsey Steele

    Listing agent Chelsey Steele License #79519-94

    Listing office First Weber Inc

    Listing date May 22, 2026

    Source Exprealty

    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 First Weber Inc

    HighLights

    • Fully finished 1,250 SF warehouse/shop unit (Unit 8) with private office and private bathroom
    • 13' overhead door for loading access plus 4‑inch concrete floors
    • 200‑amp 220V electrical service and full insulation
    • HVAC in the private office, with hot water and heat throughout the unit
    • Includes floor drain and dedicated dumpster space for low‑maintenance operations
    • Monthly HOA fee of $60 covers many exterior expenses, with no lawn care or snow removal

    Overview

    Unit 8 is a fully finished shop space designed for a mix of workspace and operations. The unit includes durable 4-inch concrete floors, full insulation, and a 13-foot overhead door for convenient loading and equipment access. Inside, there is a private office with HVAC, a private bathroom, and hot water with heat throughout. Practical utility is supported by a floor drain and a 200-amp 220V electrical service, making the space well-suited for a variety of business activities.

    The property is part of an 8-unit development and offers low-maintenance exterior with designated dumpster space. The listing notes a monthly HOA fee of $60 that covers many exterior expenses, with no lawn care or snow removal.

    This unit can fit tenants or buyers who need a finished interior for day-to-day work, along with shop functionality for tools, light manufacturing, or storage. The combination of an overhead door, dedicated office space, and restroom supports both operational and client-facing needs, depending on the business. The unit is available for sale, on land contract, or for rent, providing flexibility for different types of operators and buyers.

    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 $21.0k $16.80
    − Vacancy −$4.6k −$3.70
    EGI $16.4k $13.10
    − OpEx −$4.1k −$3.28
    NOI $12.3k $9.83
    1,250 SF · lease $16.80/SF/yr · vacancy 22.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $175.5K
    $153.6K – $204.8K (±1% cap)
    NOI $12,285 @ 7.0% cap · market cap 7.93%
    Second Best
    Flex RnD
    $102.6K
    $89.7K – $119.7K (±1% cap)
    NOI $7,179 @ 7.0% cap · market cap 4.63%
    Theoretical Best
    Office A
    $253.0K
    $221.4K – $295.2K (±1% cap)
    NOI $17,712 @ 7.0% cap · market cap 11.43%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Reedsburg
    County
    Sauk
    State
    Wisconsin
    Longitude
    -89.9699599
    Latitude
    43.5319541

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    FAQs

    What type of property is this?
    Flex space - A finished warehouse-style unit with private office, HVAC, overhead door, and 4-inch concrete floors for contractor, light manufacturing, or storage use.
    Where is this flex space located?
    The property is located at 8-Unit #8 407 S Wengel Drive Reedsburg, WI.
    What is the asking price?
    The asking price for this property is $154,900.
    What are key features of this property?
    This property features: Fully finished 1,250 SF warehouse/shop unit (Unit 8) with private office and private bathroom; 13' overhead door for loading access plus 4‑inch concrete floors; 200‑amp 220V electrical service and full insulation
    (608) 434-1080
    We can help!
    Listing Contact
    Chelsey Steele
    Real Estate License ID: 79519-94
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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