999 Park StMadison, WI 53715

  • Auto shops
  • 2,162 SF
For Lease
$22/SF/YR View listing

Property Details for 999 Park St

Year built
1970
Lot size
0.53 AC
Property size (Sq ft)
2,162 SF
Zone code
TSS
Property type
Auto shops
APN
0709-262-0221-2
APU
70926202212

Description

This exceptional 3,300 square foot standalone building offers a unique blend of retail and office space, ideally situated in Madison's vibrant Bay Creek submarket. Located at 999 S Park St, this single-tenant property boasts 150 feet of frontage on Park Street and 86 feet on Lakeside Street, providing excellent visibility and accessibility. Built in 1970, the one-story building sits on a 0.53-acre lot and includes 24 parking spaces, addressing ample parking needs. The property features three 10-foot-high dock doors, offering versatile usage potential for various businesses, including the possibility of a drive-thru. These doors could also serve as additional office space, artist studios, or contract work areas. The zoning is TSS. The property's proximity to the University of Wisconsin campus and major hospitals like Meriter and St. Mary's Hospitals makes it an attractive location for a wide range of businesses. The building's location within a growing and dynamic corridor ensures high visibility and potential for strong tenant occupancy. The property's APN is 0709-262-0221-2. Currently under contract, pre-leasing inquiries are welcome.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $455,482
    6.5%
    $420,445
    7%
    $390,413
  • Comparable approach

    Method
    Valuation
    Relative Method
    $228,273
    Geo Method
    $292,865
  • Alternative Use

    Use
    Valuation
    Industrial / Distribution
    $829,712
    Mixed-Use / Specialty
    $414,984
    Hospitality / Lodging
    $299,302
    Office
    $408,392
    Institutional / Educational
    $430,000
    Residential Income
    $503,100
    Multifamily
    $625,355
    Automotive / Energy
    $368,571
    Parking / Income-Based Land
    $131,104
    Restaurant / Food Service
    $207,381
    Healthcare / Senior Housing
    $429,621

Location Insight

City
Madison
County
Dane
State
Wisconsin
Latitude
43.0565
Longitude
-89.398
CBSA code
31540
CBSA name
MADISON, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
-
-
-
-
-
-
-
-

FAQs

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