Building Details

Year built 1999

Architectural style Other

Listing Agency: EXP Realty, LLC~MKE w***@exprealty.net Show Phone

Listed By: Jennifer Bronk Wieland · License #66388-94 Show Phone

Added: Oct 1 Changed: Oct 3 Last Checked: Oct 6 at 10:06AM

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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.

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.

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 (±1% cap)

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 (±1% cap)

NOI $64,128 @ 7.0% cap · market cap 21.38%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Office Units

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Auto Repair Shop Auto Parts Store Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this office units located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office units - Commercial office suite with four private offices, a conference room, and elevator access at the front entrance.

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: 1,795‑square‑foot upper‑level office condominium; Four separate offices; built‑ins in three; Conference room, foyer, and reception area with built‑ins