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    Property profile & analytics

    861 Progress Way Sun Prairie, WI 53590-9571

    • Industrial properties
    • 36,400 SF
    • 6.20 lot acres
    OFF-MARKET
    Last Sale
    Aug 31, 2020
    $1,777,500
    Value Estimations
    $1,975,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0877590
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Four Lakes Label / Industrial Manufacturer / Production Facility

    Property Details for 861 Progress Way

    Year built
    2008
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    6.20 lot acres
    Property size
    36,400 SF
    Property type
    Industrial properties
    APN
    0911-331-5790-2
    APU
    91133157902

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,445,000
      ML approach
      $2,650,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,233,000
      Market price range: $1.20M - $4.19M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $2,525,000
      Current use
      COMMERCIAL (GENERAL)
      $2,905,000
      Change: +15% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $2,790,000
      Change: +10% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Sun Prairie
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.1939
    Latitude
    43.2043
    CBSA code
    31540
    CBSA name
    MADISON, WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $51,148
    $559,000
    $2,324,100
    $2,883,100
    -
    $0.00
    $0.00
    $2,883,400

    Comparable in this City

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      314 Wilburn Rd

      INDUSTRIAL (GENERAL) • 11.01 Acres
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    • Value Estimation by Request
      4,400 SF

      117 Thompson Rd

      INDUSTRIAL (GENERAL) • 4,400 SF
      117 Thompson Rd, Sun Prairie, WI 53590
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    • Value Estimation by Request
      1.84 Acres

      576 Linnerud Dr

      INDUSTRIAL (GENERAL) • 1.84 Acres
      576 Linnerud Dr, Sun Prairie, WI 53590-2944
      View Details
    • Value Estimation by Request
      4,176 SF

      457 Linnerud Dr

      INDUSTRIAL (GENERAL) • 4,176 SF
      457 Linnerud Dr, Sun Prairie, WI 53590-2923
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    • Value Estimation by Request
      4.24 Acres

      165 King St

      INDUSTRIAL (GENERAL) • 4.24 Acres
      165 King St, Sun Prairie, WI 53590-2919
      View Details
    • Value Estimation
      $715,000
      10.36 Acres

      1500 Clarmar Dr

      INDUSTRIAL (GENERAL) • 10.36 Acres
      1500 Clarmar Dr, Sun Prairie, WI 53590-3026
      View Details

    Similar Nearby for Sale

    • $600,000
      2.44 Acres

      Sun Prairie Commercial Land - $600K

      Prime 2.44-acre lot, ideal for development.
      805 Progress Way, Sun Prairie, WI 53590
      View Details
    • $12,400,000
      179,526 SF

      Sun Prairie Industrial Facility

      179,526 SF Warehouse/Manufacturing
      150 Business Park Dr, Sun Prairie, WI 53590
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    • $599,900

      Highway 151 Commercial Opportunity

      High-traffic location near interstate with versatile building and storage.
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    • $7,000,000
      290,627 SF

      301 Broadway Dr

      Distribution centers • 290,627 SF
      301 Broadway Dr, Sun Prairie, WI 53590
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    • Contact for pricing
      179,526 SF

      Manufacturing and Distribution Facility

      High-quality industrial facility with warehouse and office space in Sun Prairie.
      150 Business Park Dr, Sun Prairie, WI 53590
      View Details
    • $318,999
      4.00 Acres

      Sun Prairie Residential Land Parcel

      4-acre residential lot in a peaceful, scenic Sun Prairie setting.
      2 Bailey Rd, Sun Prairie, WI 53590
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      10,000 SF

      Sun Prairie Warehouse Space Available

      10,000 SF warehouse with drive-in doors and fenced yard.
      540 Linnerud Dr, Sun Prairie, WI 53590
      View Details
    • Contact for pricing
      54,337 SF

      Sun Prairie Warehouse For Lease

      54,337 SF warehouse with interstate access in Sun Prairie.
      1824 Haynes Dr, Sun Prairie, WI 53590
      View Details
    • $18 SF/Yr
      6,900 SF

      Sun Prairie Standalone Building For Lease

      6900 sq ft standalone building with cooler/freezer in Sun Prairie.
      730 Craftsman Way, Sun Prairie, WI 53590
      View Details
    • $5 SF/Yr
      179,526 SF

      Sun Prairie Industrial Space Available

      High-quality manufacturing/distribution facility.
      150 Business Park Dr, Sun Prairie, WI 53590
      View Details
    • $87,500

      Sun Prairie Industrial Warehouse For Lease

      10,000 sq ft industrial warehouse with office and loading dock.
      868b Progress Way, Sun Prairie, WI 53590
      View Details
    • $6 SF/Yr

      Sun Prairie Warehouse Space Available

      10,000 sq ft warehouse with fenced storage yard.
      540 Linnerud Dr Sun Pr, Sun Prairie, WI 53590
      View Details
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    861 Progress Way
    Sun Prairie, WI 53590-9571
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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