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8150 Excelsior Dr, Madison, WI 53717
8,313 SF building in Madison's Old Sauk Trails Business Park.
Property Size8,313 SF
Lot Size2.67 Acres
Price / SF$282.69
Days on Market149
Property Features for 8150 Excelsior Dr
General Information
Standard status
Active
Size
8,313 SF
Class
B
Lot size
2.67 Acres
Property subtype
Land, Office
Zoning
SEC
Building Details
Year Built
1996
Buildings
1
Stories
1
Listing Agency:
Oakbrook Corporation
(608) 238-2600
Listed By:
Chris Caulum, SIOR · License #WI 90-56721
Source:
Crexi
Added: Mar 24
Changed: Aug 18
Last Checked: Aug 19 at 2:46PM
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 Oakbrook Corporation
Investment Insights
Based on property information with market context.
This 8,313 square foot building is located in Madison’s West submarket. Originally constructed for restaurant use, it was subsequently converted into a law office. The property features a flexible layout suitable for office, service, or hospitality purposes. Situated on a 2.67-acre site, the property includes approximately 1 acre of excess land, offering potential for future expansion or redevelopment. The property is located within the established Old Sauk Trails Business Park and benefits from a visible location.
Key Highlights
- 8,313 SF building on a 2.67‑acre site with 1 acre of excess land offering expansion/redevelopment potential.
- Located in the desirable West Madison submarket within the established Old Sauk Trails Business Park.
- Highly visible Beltline location.**
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
$140,237
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
5.97%
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%
$2,804,740
$2.8M
Cap Rate 7%
$2,003,386
$2.0M
Cap Rate 9%
$1,558,189
$1.6M
Market Conditions
NOI Build-Up for 8,313 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
$219.5K $26.40/SF
− Vacancy
−$32.5K −$3.91/SF
EGI
$187.0K $22.49/SF
− OpEx
−$46.7K −$5.62/SF
NOI
$140.2K $16.87/SF
Area
Madison, WI
Vacancy
14.80%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$2,804,740
Cap Rate 7%
$2,003,386
Cap Rate 9%
$1,558,189
Alternative Uses
Best Use
Office B
$2.00M
$1.75M – $2.34M
NOI $140,237 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.43M
$2.12M – $2.83M
NOI $169,984 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,364
Businesses Nearby
Explore this area
Business Placement
Demographics for 53717, WI
12,798
Population
6,404
Households
2
Avg Household Size
40
Median Age
66%
College-Educated
96%
High-School Grad
3.6 sq mi
ZIP Area
3,555
Density / Sq Mi
$96,245
Median Household Income
$56,313
Median Earnings
$1,385
Median Rent
$404,600
Median Home Value
Market
Vacancy Rate% for Office in Madison, WI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 8,313 SF building in Madison's Old Sauk Trails Business Park.
Where is this office building located?
The property is located at 8150 Excelsior Dr Madison, WI.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 8,313 SF building on a 2.67‑acre site with **1 acre of excess land offering expansion/redevelopment potential.**; Located in the desirable West Madison submarket within the established Old Sauk Trails Business Park.; Highly visible Beltline location.**
