226 Ohio AveMadison, WI 53704

Property Details for 226 Ohio Ave

Year built

1910

Lot size

0.07 AC

Property size (Sq ft)

2,400 SF

Zone code

TSS

Property type

Investment properties

Property subtype

Live-work space

APN

0710-064-3707-6

APU

71006437076

Description

This exceptional multifamily investment property, located at 226 Ohio Ave in Madison, Wisconsin, presents a compelling opportunity. The 4,918 square foot building, constructed in 1910, sits on a 0.07-acre lot (APN 0710-064-3707-6) and boasts a desirable corner location at Ohio Ave & Atwood Ave, ensuring excellent visibility. Currently, the property features two street-level retail tenants: a salon and a clothing store, along with the Ohio Tavern occupying the lower level. The tavern lease has two years remaining, but the owner is open to early termination. Note that the bar's business and fixtures are not included in the sale. The lower level also includes storage, a kitchen area with a grease trap and walk-in cooler (no hood system). The building offers a large back deck and ample outdoor patio seating along Ohio Ave. The property has a 3.00% cap rate and a net operating income (NOI) of $44,953.08. The asking price is $1,500,000. The 2024 assessed value is $691,000.00, and 2023 property taxes totaled $12,140.91. The permitted zoning is TSS, and the building benefits from 3-phase electric service. Further details regarding lease terms and potential upside are available upon request. This is a rare chance to acquire a well-located, income-producing property in a thriving Madison neighborhood.

• CAP approach

  CAP return

  Valuation

  6%

  $433,348

  6.5%

  $400,014

  7%

  $371,442

• Comparable approach

  Method

  Valuation

  Relative Method

  $243,656

  Geo Method

  $312,600

• Alternative Use

  Use

  Valuation

  Residential

  $496,017

  Hospitality

  $454,349

  Educational

  $378,013

  Medical

  $391,014

  Retail

  $588,021

Location Insight

City

Madison

County

Dane

State

Wisconsin

Latitude

43.0939

Longitude

-89.3473

CBSA code

31540

CBSA name

MADISON, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].