Flex Space with 18-Foot Clear
For Sale
$260,000
811 S Division Street #3, Waunakee, WI 53597
A customizable commercial condo unit includes a private bathroom, overhead garage door, service door, and 100-amp electrical service.
Property Size1,163 SF
Price / SF$223.56
Days on Market20
Property Features for 811 S Division Street #3
General Information
Standard status
Active
Size
1,163 SF
Property subtype
Commercial
Zoning
I-1
Warehouse & Industrial
Clear Height
18 ft
Power
100 amps
Additional Details
Asking Price
$260,000
Building Details
Building Size
1,163 SF
Year Built
2027
Units
16
Listing Agency:
Re/Max Preferred
(608) 276-8110
Listed By:
Justin Witkins · License #58265-90
(608) 843-5663
Source:
Geigerrealtors
Added: Oct 7
Changed: Oct 25
Last Checked: Oct 26 at 3:58AM
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 Re/Max Preferred
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Investment Insights
Based on property information with market context.
This 1,163-square-foot flex space is part of a planned 16-unit commercial condominium development in Waunakee. Each unit is designed with an 18-foot clear height, a Modine heater, private bathroom, overhead garage door, service door, and 100-amp service. The spaces are non-residential and zoned I-1; multiple units may be combined. The development is projected to break ground in Spring 2027.
The property is at 811 S Division Street, near downtown Waunakee and a short drive from Hwy 113 and Hwy 19. Condo fees cover snow removal, lawn care, trash, water and sewer, and parking.
Optional build-out features include a mezzanine, air conditioning, and upgraded power, allowing customization of the unit.
The property is at 811 S Division Street, near downtown Waunakee and a short drive from Hwy 113 and Hwy 19. Condo fees cover snow removal, lawn care, trash, water and sewer, and parking.
Optional build-out features include a mezzanine, air conditioning, and upgraded power, allowing customization of the unit.
Key Highlights
- 1,163 square feet with 18‑foot clear height
- Part of a planned 16‑unit commercial condominium development
- I‑1 zoning; non‑residential units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,865
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$277,300
$277.3K
Cap Rate 7%
$198,071
$198.1K
Cap Rate 9%
$154,056
$154.1K
Market Conditions
NOI Build-Up for 1,163 SF
Gross rent
$16.7K $14.40/SF
− Vacancy
−$435 −$0.37/SF
EGI
$16.3K $14.03/SF
− OpEx
−$2.4K −$2.10/SF
NOI
$13.9K $11.92/SF
Area
Dane County, WI
Vacancy
2.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$277,300
Cap Rate 7%
$198,071
Cap Rate 9%
$154,056
Alternative Uses
Best Use
Warehouse
$198.1K
$173.3K – $231.1K
NOI $13,865 @ 7.0% cap · market cap 5.33%
Second Best
Industrial
$163.1K
$142.7K – $190.3K
NOI $11,418 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$270.3K
$236.5K – $315.3K
NOI $18,918 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
18 ft
Clear height
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 53597, WI
20,729
Population
8,323
Households
2.5
Avg Household Size
41
Median Age
58%
College-Educated
98%
High-School Grad
52.9 sq mi
ZIP Area
392
Density / Sq Mi
$114,542
Median Household Income
$63,700
Median Earnings
$1,336
Median Rent
$462,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - A customizable commercial condo unit includes a private bathroom, overhead garage door, service door, and 100-amp electrical service.
Where is this flex space located?
The property is located at 811 S Division Street #3 Waunakee, WI.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: 1,163 square feet with 18‑foot clear height; Part of a planned 16‑unit commercial condominium development; I‑1 zoning; non‑residential units
