Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Development Land Near Prairie Lakes Title is generated by Realmo AI

    US-151, Sun Prairie, WI 53593

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Prime development opportunity near Prairie Lakes in Sun Prairie.

    Type:Land
    Added:
    Dec 31, 2019
    Days on Market:
    2345
    Last Refresh:
    May 19 at 9:16 pm

    Property Features for US-151

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Chris Caulum, SIOR
    Chris Caulum, SIOR

    Listing agent Chris Caulum, SIOR License #WI 90-56721

    Listing office Oakbrook Corporation

    Listing date Dec 31, 2019

    Source Crexi

    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

    HighLights

    • Prime development opportunity near Prairie Lakes.
    • Divisible to 5.8 acres (south) and 6.6 acres (north).
    • Concept plan for 358 apartments available.
    • Great visibility from US Highway 151.
    • Nearby Prairie Lakes is Greater Madison’s newest regional shopping area anchored by major retailers.
    • Sun Prairie has been one of the fastest growing communities in Wisconsin.

    Overview

    This property presents a development opportunity near Prairie Lakes in Sun Prairie. It is divisible into two parcels: 5.8 acres on the south side and 6.6 acres on the north side. A concept plan for 358 apartments is available for review. The property benefits from high visibility from US Highway 151. Sun Prairie has experienced rapid growth over the past two decades. The nearby Prairie Lakes area is a regional shopping destination, spanning 110 acres and including retail, hotel, and residential components. Anchors in the development include Target, Costco, Woodman’s Grocery Store, Marcus Palace Cinema, and Cabela’s. A Hilton Garden Inn with 124 rooms opened recently. The adjacent parcel to the north was developed into The Springs at Sun Prairie, a 228-unit apartment community featuring a swimming pool, community clubhouse, and fitness center. Menards has opened a 270,000 square foot store with a 150,000 square foot building supply yard. Meadow View Elementary School opened in 2018 to serve the growing residential area. A Hy-Vee grocery store will soon be under construction nearby.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Sun Prairie
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.258571
    Latitude
    43.16787

    Nearby Similar for Sale

    • $599,900
      3,800 SF

      Highway 151 Commercial Opportunity

      High-traffic location with Cleary building near interstate.
      3345 Highway 151, Sun Prairie, WI 53590
      View Details
    • $1,050,000

      Former Bank Branch on Broadway

      High-visibility commercial property with drive-through and expansion potential.
      550 Broadway Drive, Sun Prairie, WI 53590
      View Details
    • $695,000

      Prime Commercial Land Opportunity

      Shovel-ready 0.62-acre site in high-traffic retail corridor.
      Lot 7 Bunny's Corner Drive, Sun Prairie, WI 53590
      View Details
    • $769,000

      Mixed-Use Building in Sun Prairie

      Mixed-use property with residential and commercial units in Sun Prairie.
      530 W Main Street, Sun Prairie, WI 53590
      View Details
    • $139,000

      Sun Prairie Acreage Ready to Build

      Build your dream home near Sun Prairie with sweeping views.
      2899 Bailey Road, Sun Prairie, WI 53590
      View Details
    • $995,000
      3,692 SF

      Former Restaurant Building For Sale

      3,692 SF former restaurant outlot next to Pick'n Save.
      606 E Main St | Sun Prairie, WI 53590
      View Details
    • $199,000

      Sun Prairie Residential Lot For Sale

      Residential lot in Windsor Gardens, Sun Prairie, Wisconsin.
      3175 Lymans Run, Sun Prairie, WI 53590
      View Details
    • $225,000

      Spacious Lot in Windsor Gardens

      0.77-acre corner lot in a desirable Sun Prairie community.
      L16 Covered Bridge Trail, Sun Prairie, WI 53590
      View Details
    • $514,900

      Historic Downtown Sun Prairie Property

      Mixed-use property in Sun Prairie's vibrant historic downtown.
      104 E Main Street, Sun Prairie, WI 53590
      View Details
    • $159,000

      Sun Prairie Residential Lot For Sale

      Residential lot for sale in Windsor Gardens, Sun Prairie, WI.
      6676 Wagners Vineyard Trail, Sun Prairie, WI 53590
      View Details
    • $149,000

      Residential Lot in Sun Prairie

      Residential lot in a country subdivision with walking trails.
      L10 Karolina Way, Sun Prairie, WI 53590
      View Details
    • $599,900

      Highway 151 Commercial Land

      High-traffic location near interstate with development potential.
      3345 Highway 151, Sun Prairie, WI 53590
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime development opportunity near Prairie Lakes in Sun Prairie.
    Where is this commercial land located?
    The property is located at US-151 Sun Prairie, WI.
    What are key features of this property?
    This property features: Prime development opportunity near Prairie Lakes.; Divisible to 5.8 acres (south) and 6.6 acres (north).; Concept plan for 358 apartments available.
    (608) 238-2600 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Chris Caulum, SIOR
    Chris Caulum, SIOR
    Real Estate License ID: WI 90-56721
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    US-151, Sun Prairie, WI 53593
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!