Flex Space with Overhead
For Sale
$275,000
811 S Division Street #8, Waunakee, WI 53597
I-1 zoning and a private restroom support a range of commercial workspace configurations.
Property Size1,721 SF
Price / SF$159.79
Days on Market18
Property Features for 811 S Division Street #8
General Information
Standard status
Active
Size
1,721 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
1,721 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 23
Last Checked: Oct 23 at 5:09PM
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 planned commercial condominium development will include 16 non-residential flex units, with groundbreaking projected for Spring 2027. Each unit is designed with an 18-foot clear height, Modine heater, private bathroom, overhead garage door, service door, and 100-amp electrical service. Options include a mezzanine, air conditioning, and upgraded power; multiple units may be combined. The condominium fee covers snow removal, lawn care, trash, water and sewer, and parking.
The property is at 811 S Division Street in Waunakee, near downtown and a short drive from HWY 113 and HWY 19. I-1 zoning applies. Stated potential uses include vehicle or boat storage, workshop space, inventory storage, and small-business headquarters.
The property is at 811 S Division Street in Waunakee, near downtown and a short drive from HWY 113 and HWY 19. I-1 zoning applies. Stated potential uses include vehicle or boat storage, workshop space, inventory storage, and small-business headquarters.
Key Highlights
- Planned 16‑unit commercial condo development; groundbreaking projected for Spring 2027
- 18‑foot clear height
- Each unit includes a Modine heater, private bathroom, overhead garage door, service door, and 100‑amp service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,517
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$410,340
$410.3K
Cap Rate 7%
$293,100
$293.1K
Cap Rate 9%
$227,967
$228.0K
Market Conditions
NOI Build-Up for 1,721 SF
Gross rent
$24.8K $14.40/SF
− Vacancy
−$644 −$0.37/SF
EGI
$24.1K $14.03/SF
− OpEx
−$3.6K −$2.10/SF
NOI
$20.5K $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%
$410,340
Cap Rate 7%
$293,100
Cap Rate 9%
$227,967
Alternative Uses
Best Use
Warehouse
$293.1K
$256.5K – $342.0K
NOI $20,517 @ 7.0% cap · market cap 7.46%
Second Best
Industrial
$241.4K
$211.2K – $281.6K
NOI $16,897 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$399.9K
$349.9K – $466.6K
NOI $27,995 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
18 ft
Clear height
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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 - I-1 zoning and a private restroom support a range of commercial workspace configurations.
Where is this flex space located?
The property is located at 811 S Division Street #8 Waunakee, WI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Planned 16‑unit commercial condo development; groundbreaking projected for Spring 2027; 18‑foot clear height; Each unit includes a Modine heater, private bathroom, overhead garage door, service door, and 100‑amp service
