Flex Space with
For Sale
$865,000
E4783 Hwy 14 Road, Spring Green, WI 53588
Business/Comm, Spring Green, WI
Property Size10,200 SF
Lot Size1.46 Acres
Price / SF$84.80
Days on Market64
Property Features for E4783 Hwy 14 Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
commercial
Interior features
Overhead doors, Public rest rooms, Private Restrooms, Inside storage, Outside storage, 200 AMP, Garage Door Opener, Gas Hot Water Heater
Lot features
High Traffic Location, High Visibility
Directions
Hwy 14. Spring Green, WI. Just West of Hwy 23 & Hwy 14 intersection.
Subdivision
SPRING GREEN - T
Standard status
Active
APN
032-0615-10100
Size
10,200 SF
Lot size
1.46 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8418
Building Details
Year built
1996
Number of units
4
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Driftless Area LLC
(608) 647-9050
Listed By:
Mark Mahoney
(608) 588-5082
Added: Jun 30
Changed: Aug 31
Last Checked: Sep 1 at 4:06PM
MLS# 2021677
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 flex property contains approximately 10,200 square feet within a combination of showroom and warehouse areas. Two front display rooms measure about 1,500 square feet each and share a bathroom, while separate rear warehouse areas provide approximately 3,000 and 4,200 square feet. Each warehouse includes a 12-inch overhead door, hanging Reznor heat, and separately metered 200-amp electric service. One warehouse also has a private bathroom with shower, a storage room, and additional overhead storage. The building has a metal roof, gas hot water, public and private restrooms, and interior and exterior storage features.
Set on 1.46 acres along Hwy 14 at the edge of Spring Green, the property includes a blacktop driveway and front parking area. Commercial zoning and the building’s separation between display and warehouse functions support continued showroom-oriented use or leasing portions independently. Built in 1996, the property is currently used as a furniture and flooring store.
Set on 1.46 acres along Hwy 14 at the edge of Spring Green, the property includes a blacktop driveway and front parking area. Commercial zoning and the building’s separation between display and warehouse functions support continued showroom-oriented use or leasing portions independently. Built in 1996, the property is currently used as a furniture and flooring store.
Key Highlights
- Approximately 10,200 SF building on 1.46 acres
- Two front display rooms of approximately 1,500 SF each
- Rear warehouse areas of approximately 3,000 SF and 4,200 SF
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
$58,578
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
6.77%
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%
$1,171,560
$1.2M
Cap Rate 7%
$836,829
$836.8K
Cap Rate 9%
$650,867
$650.9K
Market Conditions
NOI Build-Up for 10,200 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
$96.7K $9.48/SF
− Vacancy
−$6.6K −$0.64/SF
EGI
$90.1K $8.84/SF
− OpEx
−$31.5K −$3.09/SF
NOI
$58.6K $5.74/SF
Area
Sauk County, WI
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
35.00%
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%
$1,171,560
Cap Rate 7%
$836,829
Cap Rate 9%
$650,867
Alternative Uses
Best Use
Retail
$1.47M
$1.29M – $1.71M
NOI $102,816 @ 7.0% cap · market cap 11.89%
Second Best
Flex RnD
$836.8K
$732.2K – $976.3K
NOI $58,578 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$2.06M
$1.81M – $2.41M
NOI $144,530 @ 7.0% cap · market cap 16.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53588, WI
4,139
Population
1,944
Households
2.1
Avg Household Size
50
Median Age
32%
College-Educated
95%
High-School Grad
139.9 sq mi
ZIP Area
30
Density / Sq Mi
$88,359
Median Household Income
$47,407
Median Earnings
$956
Median Rent
$273,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Commercially zoned property combines customer-facing display areas, warehouse space, and the possibility of leasing sections separately.
Where is this flex space located?
The property is located at E4783 Hwy 14 Road Spring Green, WI.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: Approximately 10,200 SF building on 1.46 acres; Two front display rooms of approximately 1,500 SF each; Rear warehouse areas of approximately 3,000 SF and 4,200 SF
