Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2923 Marketplace Dr Fitchburg, WI 53719

    Sponsored
    For Lease
    $14 SF/Yr

    Modern office suites, flexible layouts.

    Lot size:
    21,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    414
    This exceptional Fitchburg, WI office property, located at 2923 Marketplace Dr, offers a variety of flexible workspace solutions. The building, constructed in 2000, boasts 21,500 square feet across two stories and features a mix of executive, traditional, and creative office spaces, making it ideal for a range of businesses. Currently, there are two available suites: one approximately 1,700 square feet and another approximately 2,800 square feet. Each suite offers a combination of private offices, collaborative conference rooms, a reception area, break rooms, and ample storage. The property is zoned B-P Professional Business, allowing for a variety of commercial uses. The building includes one elevator for convenient access to both floors. A significant advantage is the large on-site parking lot, complemented by the availability of prominent monument signage. Additional lower-level storage is also available for lease. The 1.53-acre lot is situated in the WI - Madison Southwest submarket, providing easy access to a wealth of amenities, including nearby restaurants, childcare facilities, shopping centers, fitness options, and entertainment venues. The minimum divisible space is 1,500 square feet, with a maximum contiguous space of 2,787 square feet. The building has a total of three suites. Currently, 4,504 square feet of space is vacant. The property's address is 2923 Marketplace Dr, Fitchburg, WI 53719, with a cross street of Executive Drive. The APN is 060908200762.

    Property Features for 2923 Marketplace Dr

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    21,500 SF
    Class
    B
    Total Rate
    25083.33

    Building Details

    Year Built
    2000
    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    Suite 208
    Size
    1,717 SF
    Rate per SF
    $14
    Space
    Suite 108
    Size
    2,787 SF
    Rate per SF
    $14

    We can help!

    Listing Contact
    Tom Phillips

    Learn more

    Property Insight Report

    HighLights

    • 21,500 SF two‑story office building in Fitchburg, WI, built in 2000.
    • Two available suites: 1,700 SF and 2,800 SF, each with private offices, conference rooms, and ample storage.
    • 4,504 SF of vacant space available; minimum divisible space 1,500 SF, maximum contiguous 2,787 SF.
    • Located at 2923 Marketplace Dr, Fitchburg, WI 53719 (cross street: Executive Drive); B‑P zoning.
    • Features elevator, ample on‑site parking, monument signage, and additional lower‑level storage available for lease.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dave Leeder Mortgage Lender Valicom Software Company Wealth Building Cornerstones Consultant Jason Krueger - Private ... Financial Planner Vesta CPAs | Greater ... Accounting Firm

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fitchburg
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.457617985254
    Latitude
    43.012917825465

    Nearby Similar for Lease

    • $17 SF/Yr
      3,082 SF

      Madison Medical Office Space for Lease

      Prime Medical Office, 2,145 SF Available
      2984 Triverton Pike Dr, Fitchburg, WI 53711
      View Details
    • $9 SF/Yr
      4,347 SF

      Fitchburg Flex Space: McKee Road

      4,347 SF Flex Space, Fitchburg, WI
      6060 Mckee Rd, Fitchburg, WI 53719
      View Details
    • $15 SF/Yr
      12,350 SF

      Fitchburg Retail Space for Lease

      Dane County retail space, flexible layouts.
      6200 Nesbitt Rd, Fitchburg, WI 53719
      View Details
    • $14 SF/Yr
      1,962 SF

      Fitchburg Office Space Available

      Prime Fitchburg location, flexible office suites.
      2976 Triverton Pike Dr, Fitchburg, WI 53711
      View Details
    • $22 SF/Yr
      26,750 SF

      Prime Fitchburg Office Space

      Class A Office, 2,909 - 26,750 SF Available
      2424 Rimrock Rd, Fitchburg, WI 53713
      View Details
    • $15 SF/Yr
      7,530 SF

      Adaptable Lab and Office Space

      7,530 SF lab and office space for research and development.
      5520 Nobel Dr, Fitchburg, WI
      View Details
    • $17 SF/Yr
      4,473 SF

      Fitchburg Class A Office Space

      Class A office space with high traffic exposure and amenities.
      5400 King James Way, Fitchburg, WI
      View Details
    • $23 SF/Yr
      921 SF

      Fitchburg Office Suite For Lease

      Top-floor office suite in Fitchburg's Seminole Centre Court.
      5930 Seminole Ctr Ct, Fitchburg, WI
      View Details
    • $2,375,000
      17,520 SF

      Fitchburg Retail/Industrial Space Available

      17,520 SF retail/industrial space for lease in Fitchburg.
      5350 King James Way, Fitchburg, WI
      View Details
    • $15 SF/Yr
      46,000 SF

      Executive Suites, Fitchburg, WI

      Premium Office Space, Flexible Sizes
      5520 Nobel Dr, Fitchburg, WI 53711
      View Details
    • $15 SF/Yr
      6,851 SF

      Fitchburg Technology Campus Office Space

      Office space in a thriving technology campus with high-quality finishes.
      5525 Nobel Dr, Fitchburg, WI
      View Details
    • $19 SF/Yr
      2,393 SF

      Retail Space with Drive-Thru

      End-cap retail space with drive-thru in Fitchburg, WI.
      3050 Cahill Main, Fitchburg, WI
      View Details

    FAQs

    What type of property is this?
    Office space - Modern office suites, flexible layouts.
    Where is this office space located?
    The property is located at 2923 Marketplace Dr Fitchburg, WI.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: 21,500 SF two-story office building in Fitchburg, WI, built in 2000.; Two available suites: 1,700 SF and 2,800 SF, each with private offices, conference rooms, and ample storage.; 4,504 SF of vacant space available; minimum divisible space 1,500 SF, maximum contiguous 2,787 SF.
    Request Owner's contact information
    2923 Marketplace Dr Fitchburg, WI 53719
    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.
    2923 Marketplace Dr
    Fitchburg, WI 53719
    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
    2923 Marketplace Dr Fitchburg, WI 53719
    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

    We can help!
    Listing Contact
    Tom Phillips
    Real Estate License ID: WI 90-33790
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.