Two-Story Commercial Condo Office
For Sale
$299,900
N63W23524 Silver Spring Dr, Sussex, WI 53089
COMMERCIAL - Sussex, WI
Property Size1,795 SF
Lot Size1.18 Acres
Price / SF$167.08
Days on Market145
Property Features for N63W23524 Silver Spring Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
Silver Spring Dr in downtown Sussex between Main St and Waukesha Ave (aka Hwy F).
Standard status
Active
APN
SUXV0246962002
Size
1,795 SF
Lot size
1.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3352
Building Details
Year built
1999
Architectural style
Other
Listing Agency:
EXP Realty, LLC~MKE
(866) 848-6990
Listed By:
Jennifer Bronk Wieland · License #66388-94
(262) 370-2332
Added: Mar 12
Changed: Jul 9
Last Checked: Aug 3 at 7:06PM
MLS# 1953532
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.
Investment Insights
Based on property information with market context.
This is a commercial condo with the upper unit available for sale. The upper level includes a front foyer that functions as a waiting room, a large front desk area with built-ins, a conference room, storage/utility room, and four separate offices. Three of the offices feature built-ins, and there is a coffee/snack station in the hallway along with a bathroom. The unit also has both front and back entrances, and the front entrance includes an elevator.
The property is located in Sussex, WI, within Waukesha County. The listing notes a shared lower level that includes additional restrooms, along with a full basement where storage is allowed in a designated portion. Parking is also described as available in a designated portion.
The layout supports a range of professional uses that benefit from a client-facing waiting/desk area plus multiple private offices. With conference space, built-in work areas, and storage access in the basement, the suite is well suited for office-based businesses such as investment groups, spa/wellness services, title companies, or professional practices.
The property is located in Sussex, WI, within Waukesha County. The listing notes a shared lower level that includes additional restrooms, along with a full basement where storage is allowed in a designated portion. Parking is also described as available in a designated portion.
The layout supports a range of professional uses that benefit from a client-facing waiting/desk area plus multiple private offices. With conference space, built-in work areas, and storage access in the basement, the suite is well suited for office-based businesses such as investment groups, spa/wellness services, title companies, or professional practices.
Key Highlights
- Commercial condo upper unit in a building built in 1999
- Upper unit layout includes a front foyer (waiting room), large front desk area with built‑ins, conference room, storage/utility room, and 4 separate offices
- 3 offices have built‑ins, plus a coffee/snack station in the hallway and a bathroom
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.6k | $24.84 |
| − Vacancy | −$11.4k | −$6.33 |
| EGI | $33.2k | $18.51 |
| − OpEx | −$8.3k | −$4.63 |
| NOI | $24.9k | $13.88 |
1,795 SF · lease $24.84/SF/yr · vacancy 25.48% · expense 25.00%
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Upper-floor office condo with multiple rooms, front desk, conference space, and direct access via front and back entrances.
Where is this office units 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: Commercial condo upper unit in a building built in 1999; Upper unit layout includes a front foyer (waiting room), large front desk area with built‑ins, conference room, storage/utility room, and 4 separate offices; 3 offices have built‑ins, plus a coffee/snack station in the hallway and a bathroom
