806 Division St Waunakee, WI 53597-1485

This exceptional 20,900 square foot warehouse investment property is situated on a 1.86-acre lot in the highly desirable Waunakee, Wisconsin area of Dane County. Currently occupied by the seller under a five-year triple-net (NNN) leaseback agreement, this property presents a compelling 7.60% capitalization rate. The building's history includes a multi-tenant configuration, featuring five or six individual units, which were later combined into a single large space. This adaptable layout offers significant potential for future redevelopment. A prospective buyer could capitalize on the existing leaseback arrangement, or, upon lease expiration, convert the property back to its original multi-tenant design, thereby expanding the potential tenant pool and rental income. The current owner has also made improvements, notably expanding the warehouse space at the southern end of the building. This property represents a rare opportunity to acquire a well-located, versatile commercial building with strong income potential and significant upside. The asking price is $1,500,000.