Lee & Associates and Galway Companies (WI. Brokers License# 938613-91) is pleased to exclusively offer for sale the opportunity to acquire the fee simple interest (land & building) in the Verona Athletic Center or "VAC", a 52,888 square-foot multi-tenant sports and events complex ("The Property"). This highly functional and diversified investment property consists of fitness centers, dance studios, four (4) full size wood basketball/volleyball courts, and a premier banquet and event center located in the upper level. The rent roll consists of concept fitting sports and event related tenants like Anytime Fitness (24-hour location), Ballet U, and Sports Enhancement Academy ("SEA"). SEA operates the four Class "A" wood court gymnasium and hosts basketball/volleyball tournaments in addition to other sporting events monthly. The upper level consists of a fully built out banquet and event space for weddings & formal events. The upper-level banquet space is currently vacant and for lease. Please see Broker for leasing activity. The Verona Athletic Center has been historically 75%-95% occupied since it opened in 2004, showing a consistent demand for its unique offerings within the Madison MSA. Currently the property is 77% occupied with the majority of vacancy being the upper level 12,000 square foot banquet and event space. This space is poised to recover nicely from the Pandemic and is currently seeing good leasing activity. The market for wedding banquet space and event space in Madison market is very limited. It's only a matter of time before this space is 1oo% leased. The current vacancy at the Verona Athletic Center provides an investor with a nice value you add opportunity to increase rental revenue significantly. By leasing the upper level and two other small spaces at a market rent (to bring the property to 100% occupancy), an investor would see a significant jump in the cap rate to 8.8%, and an even higher jump to 9.3% the following year. The Verona Athletic Center is located within the City of Verona, a booming suburb of Wisconsin's Capital City of  Madison. Verona is one of the fastest growing communities in Wisconsin. Due to the deep talent pool of educated workers due to the proximity to The University of Wisconsin (approx, 48,000 student enrollment), Epic Systems opted to build their Headquarters in Verona. Epic Systems employs over 9500 employees and reports annual revenues of over $1.8 billion. In addition, the "VAC" is just a few miles from the new 600,000 square foot Verona Highschool (2500 students) and minutes from a new Costco development slated to break ground any day.