Upper-Level Office
N63W23524 Silver Spring Dr, Sussex, WI 53089
For Sale
$299,900
Y, Sussex, WI
Property Size1,795 SF
Lot Size1.18 Acres
Price / SF$167.08
Days on Market42
Property Features for N63W23524 Silver Spring Dr
General Information
Property type
Property subtype
Zoning
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Amenities
waiting room
conference room
coffee/snack station
storage/utility room
restrooms
basement storage
Building Details
Year built
Architectural style
Listing Agency:
EXP Realty, LLC~MKE
(866) 848-6990
Listed By:
Jennifer Bronk Wieland · License WI 66388-94
(262) 370-2332
Added: Oct 1
Changed: Oct 12
Last Checked: Nov 11 at 1:06PM
MLS# 1982862
Copyright © 2026 Metro MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,795-square-foot upper-level commercial condominium was built in 1999. Its layout includes a front foyer, reception area with built-ins, conference room, storage and utility room, four offices, a hallway coffee and snack station, and a bathroom. Three offices have built-in features, and the unit has entrances at both the front and rear; the front entrance is served by an elevator.
The lower level has additional restrooms and a full basement, with permission to use one-quarter of the basement for storage. The unit also has a one-quarter share of available parking. The property is zoned Commercial.
The lower level has additional restrooms and a full basement, with permission to use one-quarter of the basement for storage. The unit also has a one-quarter share of available parking. The property is zoned Commercial.
Key Highlights
- 1,795‑square‑foot upper‑level office condominium
- Four separate offices; built‑ins in three
- Conference room, foyer, and reception area with built‑ins
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,920
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$498,400
$498.4K
Cap Rate 7%
$356,000
$356.0K
Cap Rate 9%
$276,889
$276.9K
Market Conditions
NOI Build-Up for 1,795 SF
Gross rent
$44.6K $24.84/SF
− Vacancy
−$11.4K −$6.33/SF
EGI
$33.2K $18.51/SF
− OpEx
−$8.3K −$4.63/SF
NOI
$24.9K $13.88/SF
Area
Waukesha County, WI
Vacancy
25.48%
Lease Rate
$24.84 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$498,400
Cap Rate 7%
$356,000
Cap Rate 9%
$276,889
Alternative Uses
Best Use
Office B
$356.0K
$311.5K – $415.3K
NOI $24,920 @ 7.0% cap · market cap 8.31%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$916.1K
$801.6K – $1.07M
NOI $64,128 @ 7.0% cap · market cap 21.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
305
Businesses Nearby
Explore this area
Business Placement
Demographics for 53089, WI
19,657
Population
7,856
Households
2.5
Avg Household Size
43
Median Age
45%
College-Educated
98%
High-School Grad
26.9 sq mi
ZIP Area
731
Density / Sq Mi
$116,042
Median Household Income
$60,356
Median Earnings
$1,270
Median Rent
$387,100
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Commercial office suite with four private offices, a conference room, and elevator access at the front entrance.
Where is this office unit located?
The property is located at N63W23524 Silver Spring Dr Sussex, WI.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,795‑square‑foot upper‑level office condominium; Four separate offices; built‑ins in three; Conference room, foyer, and reception area with built‑ins
