702 Main StMadison, WI 53715

Property Details for 702 Main St

Year built

1963

Lot size

0.28 AC

Property size (Sq ft)

4,382 SF

Zone code

TR-U1

Property type

Office properties

Property subtype

Office buildings

APN

0709-233-1102-4

APU

70923311024

Description

This 12,510 square foot, three-story Class B office building in downtown Madison, Wisconsin, presents a unique investment opportunity. Built in 1964, this well-maintained mid-century modern brick building boasts recent upgrades including interior finishes and a new sprinkler system. The first floor offers a versatile layout including private offices, a large conference room, open workspace, breakroom, and reception area. The second floor, previously licensed as a Community-based Residential Facility (CBRF), features a full kitchen, dining room, laundry facilities, restrooms with showers, and multiple bedrooms, ideal for various configurations. The building's diverse floor plans allow for easy multi-tenant occupancy, and multiple entrances offer opportunities for separate tenant identity and signage. The property sits on a 12,005 square foot lot and includes 12 parking spaces. The permitted zoning is TR-U1 Traditional Residential. The asking price is $1,775,000, with a price per square foot of $151.88. The APN is 251/0709-233-1102-4. This property is located at 702 W Main St, Madison, WI 53715.

• CAP approach

  CAP return

  Valuation

  6%

  $791,222

  6.5%

  $730,359

  7%

  $678,190

• Comparable approach

  Method

  Valuation

  Relative Method

  $444,875

  Geo Method

  $570,756

• Alternative Use

  Use

  Valuation

  Residential

  $905,645

  Hospitality

  $829,566

  Educational

  $690,189

  Medical

  $713,926

  Retail

  $1,073,628

Location Insight

City

Madison

County

Dane

State

Wisconsin

Latitude

43.0662

Longitude

-89.3943

CBSA code

31540

CBSA name

MADISON, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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