2250 Pennsylvania Ave 10,475 SF Retail Building Madison, WI 53704 $1,350,000 ($128.88/SF) 8.23% Cap Rate

2250 Pennsylvania Avenue is a fully leased, renovated 10,475 SF commercial building on a 0.80-acre infill parcel on Madison's Near East Isthmus. Leased through December 31, 2031 with two 5-year options to 2041; in-place base rent of approximately $111,129 with 3.0% annual escalators on an NNN structure (tenant pays real estate taxes, insurance, utilities, routine maintenance and CAM) - an approximately 8.2% yield on in-place rent, rising to $114,463 (8.48%) at the July 2027 escalation. Luna Pet Resorts is a unique downtown pet boarding facility; lease corporately guaranteed by Wags N Whiskers, a multi-state operator of ~13 pet-care facilities. Ownership completed a ~$450,000 capital program in 2025-26 (new roof, full HVAC replacement, gutters, insulation, plumbing, stucco) and the parking lot was resealed and striped in June 2026. Rare grandfathered animal-services entitlement under IL zoning. Rear MG&E easement usable by owner for parking and storage. The University of Wisconsin purchased the adjacent 2.7-acre parking-lot parcel at 2230 Pennsylvania and, concurrently, the nearby warehouse at 2180 Pennsylvania (recorded Dec 2025) - the sale prices indicate land values around $1.3M per acre; at that basis, 2250's land alone supports roughly $1.0M of the list price. A proposed ~500-unit redevelopment of the former Hooper campus is advancing next door, and the Madison Public Market opens ~0.3 mi south in July 2026. Approximately 2 miles to Capitol Square, 2.7 miles to Dane County Regional Airport, with quick Hwy 30/151 access.