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516 S Park St 6 Unit Apartment Building Offered at $1,199,000 at a 6.80% Cap Rate Madison, WI 53715
INVESTMENT HIGHLIGHTS
- Walkable to Downtown & UW Campus
- Near Bike Paths, Coffee Shops, Restaurants, Bars
- Easy Access to Beltline
EXECUTIVE SUMMARY
Rare opportunity to own 2 buildings, 2 commercial spaces, 4 apartments, oversized two car garage with ample parking on the booming S Park St corridor! This property is adjacent to Vilas/Greenbush neighborhood and walkable to everything downtown! The commercial tenants include Cordial Bar, where the motto is, "Outside's a Dive, Inside's a Vibe". They have been in business for 4 years and have an initial 10 year lease term. The adjacent commercial tenant has been there for years, as a well established business, Spike-O-Matic Tattoo. There are 2 large apartments above the commercial spaces. There is an additional 2 flat included, just North of the primary building. With well established commercial tenants, renovated apartments and an outstanding location, the options are endless!
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$98,035
|
$25.82
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$98,035
|
$25.82
|
| Taxes |
$13,663
|
$3.60
|
| Operating Expenses |
$28,668
|
$7.55
|
| Total Expenses |
$42,331
|
$11.15
|
| Net Operating Income |
$55,704
|
$14.67
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $98,035 |
| Annual Per SF | $25.82 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $98,035 |
| Annual Per SF | $25.82 |
| Taxes | |
|---|---|
| Annual | $13,663 |
| Annual Per SF | $3.60 |
| Operating Expenses | |
|---|---|
| Annual | $28,668 |
| Annual Per SF | $7.55 |
| Total Expenses | |
|---|---|
| Annual | $42,331 |
| Annual Per SF | $11.15 |
| Net Operating Income | |
|---|---|
| Annual | $55,704 |
| Annual Per SF | $14.67 |
PROPERTY FACTS Under Contract
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Balcony
- Cable Ready
- Dishwasher
- Washer/Dryer
- Ceiling Fans
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Wi-Fi
- Deck
- Family Room
- Vinyl Flooring
- Window Coverings
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- On-Site Retail
- Storage Space
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 1 | $1,700 | 850 |
| 1+1 | 3 | $1,365 | 550 |
| Studios | 2 | $1,725 | 826 - 2,060 |
1 1
Walk Score®
Very Walkable (87)
Bike Score®
Biker's Paradise (98)
PROPERTY TAXES
| Parcel Number | 0709-233-1521-6 | Total Assessment | $798,000 |
| Land Assessment | $85,000 | Annual Taxes | $13,663 ($3.60/SF) |
| Improvements Assessment | $713,000 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
0709-233-1521-6
Land Assessment
$85,000
Improvements Assessment
$713,000
Total Assessment
$798,000
Annual Taxes
$13,663 ($3.60/SF)
Tax Year
2024
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516 S Park St
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