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33799757
33833374

645 Sandpiper, Cottage Grove, WI 53527

DB
WI WI 52609-90
American Realtors
Listed by American Realtors
$4,900,000
468 days on market
Updated 0 days ago

Class A Flex Complex Below Replacement Cost

Details
Property Type Office, Industrial (+1)
Sub Type Flex, Warehouse (+1)
Square Footage 19,622
Net Rentable (SqFt) 19,622
Units 1
Occupancy 18.73%
Tenancy Multi
Lease Type NNN
Lease Expiration 04/30/2027
Rent Bumps Yes
Pro-Forma Cap Rate 9.31%
Pro-Forma NOI $455,963
Price per SqFt $250
Class A
Year Built 2024
Buildings 2
Stories 2
Acreage 2.270
Zoning PB
Parking Spaces 28 spaces
Parking Per SqFt 1.43
Investment Type Owner/User
Lease Commencement 05/01/2025
Ground Lease No
Ceiling Height 21
Ownership Hensiak Holdings
Sale Condition N/A

Class A Flex Complex Well Below Replacement Costs

Marketing description

Unrivaled Class-A Flex Offering Below Replacement Cost in the Madison Economic Hub

Baehr Inc. is pleased to present the exclusive opportunity to acquire 645 Sandpiper Trail, a brand-new, premier 19,623 square foot Class-A flex complex perfectly positioned in the rapidly expanding submarket of Cottage Grove, Wisconsin. Offered at $4,900,000, this state-of-the-art facility features exceptionally durable steel framing, a poured concrete foundation, and a clean rubber/membrane roof system. Built with total layout flexibility in mind, the corporate compound cleanly accommodates a diverse mix of commercial uses including high-end retail, professional office, service-based showrooms, and heavy industrial warehouse needs.

Engineered as a dual-building asset designed to maximize yield and insulate an incoming owner from day one. The 18,147 SF two-story main building features an advanced corporate build-out equipped with forced air, central zoned cooling, high-capacity 3-phase electric, an internal fire sprinkler system, and large commercial overhead loading doors. It will be delivered mostly vacant, creating a pristine canvas for an owner-occupant to establish a regional headquarters or an investor to capture premium market rents. Adding immediate value is a separate, fully built-out 1,475 SF detached building featuring rental units that are 100% leased, providing built-in passive income to effortlessly offset operational costs while the master building transitions.

Logistically, the property sits at the center of regional expansion, directly adjacent to the premier Coyle Highlands community and less than three minutes down the road from the brand-new, monumental 3.4 Million SF Amazon Fulfillment Center. This massive corporate footprint has permanently upgraded the surrounding transit pipeline, channeling heavy daily traffic directly to the property's PUD-zoned corner lot. Site civil infrastructure is robust, mapping out a paved layout of 28 commercial stalls, independent heavy-truck parking lanes, on-site wet retention utility ponds, and secure dumpster pads.

Whether capitalizing on sub-4% regional flex vacancy rates or leveraging the explosive population and income growth of Dane County, 645 Sandpiper Trail represents a rare, low-maintenance asset primed for immense long-term equity appreciation.

Financial Underwriting Note: Potential buyers are advised that all advertised financial performance metrics, including the Net Operating Income (NOI) and the projected 9.3% Cap Rate, are pro forma calculations. These figures are based directly upon a future tenant or owner-occupant absorbing the remaining vacant main structure area at a market-stabilized annual rate of $19.50 per square foot on a Triple Net (NNN) lease structure.

Investment highlights

Deep Value Discount: Brand-new, premier Class-A steel construction priced significantly below regional physical replacement costs, bypassing ongoing supply chain delays and CapEx.

Significant Pro Forma Upside: Positioned to trade at a highly lucrative 9.3% pro forma cap rate based on leasing the remaining vacant main space at a market-stabilized $19.50/SF NNN.

Immediate Income Insulation: Features a separate, fully built-out 1,475 SF detached building that is 100% leased, delivering reliable, immediate passive cash flow to offset property carrying costs from day one.

Institutional Amazon Validation: Strategically situated a mere 1.4 miles south of the massive, newly developed 3.4 Million SF Amazon Fulfillment Center, placing it directly in a primary logistical and support corridor.

Premium Civil Infrastructure: Heavy-duty, PUD-zoned corner lot equipped with 28 paved parking stalls, 2 dedicated truck lanes, robust 200-AMP 3-phase electrical capabilities, underground fiber-optic internet feeds, and integrated North/South wet stormwater retention ponds.

Blistering Submarket Growth: Located in the primary eastern gateway to the Madison economic hub, boasting an explosive 4.33% annual population growth rate and a highly affluent local labor demographic with a median household income of $139,313.

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Listing Contacts

DB
WI WI 52609-90
American Realtors
Listed by American Realtors

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Zoning

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PB PlannedPlanned Business District
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Last updated Jan 20, 2026 For deeper zoning details, reports are available at Zoneomics

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Additional Information

Name
David Baehr
License
WI 52609-90
Brokerage
American Realtors
Brokerage Phone
6082136686
Title
Real Estate Broker
Brokerage Address
202 West Main Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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