3301 Latham Dr Madison, WI 53713-4638

This exceptional 20,000-square-foot flex space industrial property, located at 3301 Latham Drive in Madison, Wisconsin, presents a compelling investment or owner-user opportunity. Situated on a 1.53-acre lot, this single-story, 2004-built building boasts a desirable IG zoning designation. Currently vacant, the property offers immediate occupancy and significant upside potential. The building is divided into two approximately 10,000-square-foot units, providing flexibility for various uses. One unit features warehouse space with a small office area, while the other includes a small amount of finished office space, along with separately controlled cooler and freezer areas built to food processing standards. The property includes one loading dock and seven dock-high doors, with ceiling heights ranging from 16 to 19 feet. The property's location within a thriving industrial park, just south of the beltline, benefits from a remarkably low 2% vacancy rate in the immediate submarket, a testament to the area's strong demand. This has driven a substantial 63% increase in market rental rates since 2014, with further growth projected. The asking price is $1,950,000, representing an attractive pro-forma cap rate of 8%. This is a rare chance to acquire a well-maintained industrial property in a prime Madison location.