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East Johnson Street Portfolio 3 Properties Offered at $2,500,000 in Madison, WI
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Investment Highlights
- 116, 122, and 128 E Johnson Street present the three-property portfolio investment to redevelop an office and two adjoining apartment buildings.
- Totaling 21,018 square feet (0.48 acres), this is a premier multifamily development opportunity to add 45 or more units in Downtown Madison.
- Wisconsin’s capital city is a thriving college town and the second-largest city in the state, known for lakeside recreation and a lively community.
- Prime Downtown Madison location less than 1 mile from the Capitol Square and the University of Wisconsin – Madison campus, near Lake Mendota.
- 67% of the 3-mile radius comprises renter-occupied households, with 28% of housing types reflecting 20+ units or more, aligning with the subject.
- Nearby points of interest include the Gateway shopping center, James Madison Park, University Square, the Kohl Center, and the Henry Vilas Zoo.
Executive Summary
Welcome to the multifamily redevelopment opportunity in Downtown Madison, Wisconsin, the state capital.
The portfolio site totals 0.48 acres among three parcels/ buildings. 116 E Johnson Street consists of a 3,106-square-foot residential income duplex, 122 E Johnson Street consists of a 1,760-square-foot dental office building, and 128 E Johnson Street consists of a 5,000-square-foot, two-story, multifamily building. The highest and best use is redevelopment to a 45+ unit apartment, provided the City of Madison grants all required approvals, with good cash flow in the meantime.
Student housing and renter demand are prevalent in Downtown Madison, home to the University of Wisconsin–Madison, a public, four-year institution with a full-time student population of more than 46,000. The university has a dormitory capacity of about 8,900 beds, leaving the balance of full-time students to search for off-campus housing. The university draws in many residents for its college sports and top-notch educational opportunities. Between the Badgers basketball and hockey games at the Kohl Center, the Badgers football Games at Camp Randall Coliseum, and all kinds of entertainment options like the University of Wisconsin-Madison Arboretum, a major natural attraction in the city, Madison remains a thriving and lively city.
Please note: the seller prefers to sell all 3 properties together, but will consider proposals to split them - a great opportunity for an exciting redevelopment project near Capitol Square.
The portfolio site totals 0.48 acres among three parcels/ buildings. 116 E Johnson Street consists of a 3,106-square-foot residential income duplex, 122 E Johnson Street consists of a 1,760-square-foot dental office building, and 128 E Johnson Street consists of a 5,000-square-foot, two-story, multifamily building. The highest and best use is redevelopment to a 45+ unit apartment, provided the City of Madison grants all required approvals, with good cash flow in the meantime.
Student housing and renter demand are prevalent in Downtown Madison, home to the University of Wisconsin–Madison, a public, four-year institution with a full-time student population of more than 46,000. The university has a dormitory capacity of about 8,900 beds, leaving the balance of full-time students to search for off-campus housing. The university draws in many residents for its college sports and top-notch educational opportunities. Between the Badgers basketball and hockey games at the Kohl Center, the Badgers football Games at Camp Randall Coliseum, and all kinds of entertainment options like the University of Wisconsin-Madison Arboretum, a major natural attraction in the city, Madison remains a thriving and lively city.
Please note: the seller prefers to sell all 3 properties together, but will consider proposals to split them - a great opportunity for an exciting redevelopment project near Capitol Square.
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Property Facts
| Price | $2,500,000 | Number of Properties | 3 |
| Price / SF | $255.73 / SF | Individually For Sale | 0 |
| Sale Condition | Redevelopment Project | Total Building Size | 9,776 SF |
| Sale Type | Investment | Total Land Area | 0.48 AC |
| Status | Active |
| Price | $2,500,000 |
| Price / SF | $255.73 / SF |
| Sale Condition | Redevelopment Project |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 9,776 SF |
| Total Land Area | 0.48 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 128 E Johnson St, Madison, WI 53703 | Multifamily | 5,000 SF | - | - |
| 122 E Johnson St, Madison, WI 53703 | Office | 1,760 SF | 1941 | - |
| 116 E Johnson St, Madison, WI 53703 | Specialty | 3,016 SF | - | - |
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East Johnson Street Portfolio
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