Apartment Building with
For Sale
$699,000
E11062 Center Road, North Freedom, WI 53951
Business/Comm, North Freedom, WI
Property Size6,400 SF
Lot Size1.40 Acres
Price / SF$109.22
Days on Market68
Property Features for E11062 Center Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Security features
Security Lighting
Interior features
Private Restrooms, Shared Restrooms, Residential unit(s), Shared conference room, Reception area, Internal sprinkler, Rail, Inside storage, Outside storage, Security lighting, Private office(s), Fire Alarm, Landscaped, Out Building, Shelving, Smoke Detectors
Lot features
Corner, Free standing, Near Major Highway, Residential area
Directions
Hwy 12 between Baraboo & Sauk City, West on Center Road, left on Center Road, Right on Eastern Avenue
Subdivision
SUMPTER - T
Standard status
Active
APN
034-0782-00000
Size
6,400 SF
Lot size
1.40 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13333
Amenities
fireplace
on-site laundry
dedicated storage rooms
storage units
Building Details
Year built
1995
Number of units
12
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Judd Realty, LLC
(608) 524-9800
Listed By:
Karen Judd · License #5460790
(608) 524-9800
Added: Jun 26
Changed: Aug 31
Last Checked: Sep 1 at 3:06AM
MLS# 2012851
Copyright © 2026 REALTORS® Association of South Central Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 6,400-square-foot apartment building occupies 1.4 acres and includes residential units within a commercially zoned property. The interior features private and shared restrooms, a reception area, private offices, a shared conference room, and multiple flexible areas. A fireplace adds a distinctive interior feature, while on-site laundry supports day-to-day operations.
Storage is a substantial component of the property, with dedicated interior storage rooms, shelving, an outbuilding, and separate storage units. The property at E11062 Center Road in North Freedom, Wisconsin, was built in 1995 and has a shingle roof. Additional features include internal sprinkler protection, fire and smoke detection systems, security lighting, landscaping, and rail access listed among the property features.
Storage is a substantial component of the property, with dedicated interior storage rooms, shelving, an outbuilding, and separate storage units. The property at E11062 Center Road in North Freedom, Wisconsin, was built in 1995 and has a shingle roof. Additional features include internal sprinkler protection, fire and smoke detection systems, security lighting, landscaping, and rail access listed among the property features.
Key Highlights
- 6,400 square feet of building area on 1.4 acres
- Commercial zoning with residential unit(s)
- Dedicated storage rooms plus separate storage units
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
$52,969
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
7.58%
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%
$1,059,380
$1.1M
Cap Rate 7%
$756,700
$756.7K
Cap Rate 9%
$588,544
$588.5K
Market Conditions
NOI Build-Up for 6,400 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
$101.4K $15.84/SF
− Vacancy
−$5.1K −$0.79/SF
EGI
$96.3K $15.05/SF
− OpEx
−$43.3K −$6.77/SF
NOI
$53.0K $8.28/SF
Area
Sauk County, WI
Vacancy
5.00%
Lease Rate
$15.84 /SF/Yr
Expense Ratio
45.00%
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%
$1,059,380
Cap Rate 7%
$756,700
Cap Rate 9%
$588,544
Alternative Uses
Best Use
Apartment 5plus
$756.7K
$662.1K – $882.8K
NOI $52,969 @ 7.0% cap · market cap 7.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.13M – $1.51M
NOI $90,685 @ 7.0% cap · market cap 12.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Explore this area
Business Placement
Demographics for 53951, WI
2,291
Population
1,119
Households
2
Avg Household Size
42
Median Age
17%
College-Educated
91%
High-School Grad
73.0 sq mi
ZIP Area
31
Density / Sq Mi
$70,729
Median Household Income
$38,250
Median Earnings
$910
Median Rent
$186,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Commercial-zoned property with residential units, laundry facilities, storage areas, and flexible interior spaces.
Where is this apartment building located?
The property is located at E11062 Center Road North Freedom, WI.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 6,400 square feet of building area on 1.4 acres; Commercial zoning with residential unit(s); Dedicated storage rooms plus separate storage units
