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2355 McCoy Rd
Sun Prairie, WI 53590
Land For Sale · 41.29 AC

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INVESTMENT HIGHLIGHTS

  • + Madison Multifamily Market - The lowest vacancy rate in the nation among the top 69 markets according to CBRE research.
  • + High-Intensity Residential (HIR) Overlay - Suitable for high-intensity residential development & can provide both rental and owner-occupied housing.
  • + Sun Prairie Multifamily Market - New inventory is readily absorbed as demand continues to be strong for new units in the Madison suburbs.
  • + Conceptual Plans - CBRE worked with JLA Architects on conceptual plans for the site. Check the Virtual Deal Room for more information.

EXECUTIVE SUMMARY

CBRE is pleased to present, as sole advisor to the owner of record, a 41.29-acre parcel of land situated along McCoy Road and US Hwy 151 on the west side of Sun Prairie, Wisconsin. The parcel benefits from a High-Intensity Residential Overlay district as designated by the City of Sun Prairie’s Comprehensive Plan (2019-2039).

PROPERTY FACTS

Sale Type Investment
Sale Condition Redevelopment Project
No. Lots 1
Property Type Land
Property Subtype Residential
Proposed Use
Multifamily
  • Apartment Units
  • Planned Unit Development
  • Single Family Development
Total Lot Size 41.29 AC
Zoning Multiple - Employment, Parks & Open Space, and Neighborhood Residential with a High-Intensity Residential Overlay

1 LOT AVAILABLE

Lot

Price $11,000,000
Price Per AC $266,408.33
Lot Size 41.29 AC

The 41.29-acre land consists of two parcels and contains multiple zonings including Neighborhood Residential with a High-Intensity Residential Overlay, Parks & Open Space, & Employment zoning. Currently, the land serves as farmland.

DESCRIPTION

The Property is located in the heart of Sun Prairie just off of HWY 151 which routes directly into downtown Madison to the State Capitol building and has four interchanges throughout Sun Prairie. The drive from the Property to downtown Madison is typically 22 minutes and is 10.5 miles. The Subject site contains multiple zonings including Employment, Parks & Open Space, and Neighborhood Residential with a High-Intensity Residential (HIR) Overlay. Within the 2009-2029 City of Sun Prairie Comprehensive Plan, it states the City of Sun Prairie will consider proposals for high-intensity residential within the Employment zoning area without a plan amendment. In the past four years since the City of Sun Prairie Comprehensive Plan was adopted, the need for housing emerged as a topic of paramount importance. The HIR overlay identifies properties or areas in the Neighborhood Residential (NR) future land use areas that are suitable for high-intensity residential development. The objective is to provide a mix of housing types to provide for balanced neighborhoods, while mitigating negative impacts to existing or planned low-intensity residential areas. In general, high-intensity residential development is identified close to major streets, mixed-use areas, or commercial/ employment areas to provide convenient, walkable access to transit, shopping, restaurants, and other amenities.

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 0810-123-8321-2
  • 0810-124-8501-2
Land Assessment
$94,800
Improvements Assessment
$309,500
Total Assessment
$404,300
  • Listing ID: 29830742

  • Date on Market: 10/19/2023

  • Last Updated:

  • Address: 2355 McCoy Rd, Sun Prairie, WI 53590

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