Customizable Flex Condominium
For Sale
$260,000
811 S Division Street #9, Waunakee, WI 53597
Each nonresidential unit includes a private bathroom, overhead garage door, service door, and Modine heater.
Property Size1,163 SF
Price / SF$223.56
Days on Market20
Property Features for 811 S Division Street #9
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
Property Use
Warehouse
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 26
Last Checked: Oct 26 at 4:01AM
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.
Planned as a 16-unit commercial condominium development, the project offers customizable flex units in Waunakee. Each unit measures 1,163 square feet, with 18-foot clear height, a private bathroom, Modine heater, overhead garage door, service door, and 100-amp electrical service. I-1 zoning applies. Mezzanine, air conditioning, and upgraded power are available as options. The development is projected to begin construction in Spring 2027.
Condominium fees cover snow removal, lawn care, trash, water and sewer, and parking. The property is near downtown Waunakee and a short drive from Highways 113 and 19.
Condominium fees cover snow removal, lawn care, trash, water and sewer, and parking. The property is near downtown Waunakee and a short drive from Highways 113 and 19.
Key Highlights
- 16‑unit commercial condominium development projected to break ground in Spring 2027
- Each unit offers 1,163 square feet, measuring 25' x 46.5'
- 18' clear height
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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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Each nonresidential unit includes a private bathroom, overhead garage door, service door, and Modine heater.
Where is this flex space located?
The property is located at 811 S Division Street #9 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: 16‑unit commercial condominium development projected to break ground in Spring 2027; Each unit offers 1,163 square feet, measuring 25' x 46.5'; 18' clear height
