115 Washington AveMadison, WI 53703

Property Details for 115 Washington Ave

Year built

1924

Property size (Sq ft)

7,557 SF

Property type

Office properties

Description

This exceptional Class A, 7,557 square foot executive office building, located at 115 W Washington Ave, Madison, WI 53703, presents a compelling investment opportunity. Built in 1924 and extensively renovated in 2004, the property boasts a prime ground-floor location in the heart of Downtown Madison's historic district, just steps from the Capitol Square. Currently housing five tenants with a diverse mix of businesses, including financial services, a business hub, café, law office, and barbershop, the building offers a stable income stream with a 7.12% cap rate and a net operating income (NOI) of $163,748. The property features a multi-tenant configuration, with rent bumps in place, and is zoned DC-HIS, allowing for versatile office/retail use. The building comprises one 10-story structure with one on-site parking space and additional parking available nearby. The sale includes 7,557 net rentable square feet, priced at $304.35 per square foot, with an asking price of $2,300,000. The occupancy date is October 1, 2024. This prominent storefront benefits from high pedestrian traffic and excellent visibility within Madison's Business Improvement District, making it an attractive investment in one of the city's most desirable commercial corridors. The property is being sold by the owner and is subject to a triple net (NNN) lease. All tenants are credit-rated.

Location Insight

City

Madison

County

Dane

State

Wisconsin

Latitude

43.0735

Longitude

-89.3858

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