3301 Latham DrMadison, WI 53713

Property Details for 3301 Latham Dr

Year built

2004

Lot size

1.53 AC

Property size (Sq ft)

19,876 SF

Zone code

IG

Property type

Other commercial real estate

Property subtype

Showrooms

APN

0609-022-0517-4

APU

60902205174

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $5,275,606

  6.5%

  $4,869,790

  7%

  $4,521,948

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,085,044

  Geo Method

  $6,523,900

• Alternative Use

  Use

  Valuation

  Residential

  $4,107,850

  Hospitality

  $3,762,769

  Educational

  $3,130,580

  Medical

  $3,238,245

  Retail

  $4,869,790

Location Insight

City

Madison

County

Dane

State

Wisconsin

Latitude

43.0277

Longitude

-89.4032

CBSA code

31540

CBSA name

MADISON, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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