For Sale
$1,950,000

3301 Latham DrMadison, WI 53713

20,000 SF Flex Space, Vacant, High Demand

Overview

Added:
Dec 11, 2024
Days on market:
116
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.

Highlights

  • 20,000 SF flex space industrial building on a 1.53-acre lot in Madison, WI.
  • Single-story building constructed in 2004 with IG zoning.
  • Divided into two ~10,000 SF units; one with warehouse and small office, the other with small office, cooler, and freezer space built to food processing standards.
  • Features one loading dock and seven dock-high doors, with 16-19 ft. ceiling heights.
  • Located in a thriving industrial park south of the beltline, with a 2% vacancy rate and 63% rental rate increase since 2014; further growth projected.

Property Details for 3301 Latham Dr

Property type
Industrial properties, Flex space
Square Feet
20,000 SF
Year Built
2004
Buildings
1
Stories
1
Lot Size (sq. ft)
66,647 SF
Units
2

Location Insight

City
Madison
County
Dane
State
Wisconsin
Latitude
43.027447430797
Longitude
-89.403664455442
3301 Latham Dr, Madison, Wisconsin

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3301 Latham Dr
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