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502 Atlas Ave,  Madison,  WI  53718 $500,000 Sold
502 Atlas Ave,  Madison,  WI  53718
$500,000
Sold
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 Property Type Business/Commercial
 Parcel # 0710-091-0205-6
 County Dane
 Sub Area E11
 Municipality Madison
 MLS# 1898508
 Listing Date 11/25/2020
 Sold Price $426,000
 Close Date 03/25/2022 12:00 AM

MLS Public Remarks  Expand your rental portfolio with this Prairie-Style, east-side office building with Highway 51 exposure! Tucked into the trees off Atlas Avenue, this office building with striking wood atrium and fantastic tenant can take your portfolio to the next level. New carpet, paint, furnace, and an ADA-compliant first floor restroom will allow you to sit back and collect your cash flow from this highly-desired area. Whether it's your first commercial property, or an addition to your current stable of properties, 502 Atlas Ave is a winner in anyone's ledger. Measurements are approximate and should be verified by buyer if important Also listed with neighboring properties as part of MLS# 1898512
Documents and Related Links  
1) RECR
LOCATION  
  • Location  City
  • Other Marketing Area  
  • Mailing City  Madison
  • C/T/V  City
  • Unit #  
  • Directions  From Cottage Grove Rd, Turn North On Atlas Ave. Continue About A Half Of A Mile, The Office Building Is On The Left
    • BUILDING DESCRIPTION  
  • Real estate for sale  Yes
  • Business for sale  No
  • For lease only  No
  • Ann. Rent/SqFt  $8
  • Total Units/Bldg  2
  • Building Gross SqFt  6,000
  • Net Leasable SqFt  6,000
  • Year Built  1977
  • Source for Year Built  PubR
  • Approx Bldg Dimen  57x57
  • Street Frontage  116
  • Parking Fees/Mo.  $0
  • Onsite Parking  12
  • # of Stories  1
  • Ceiling Height Min  10
  • Ceiling Height Max  20
  • Number of Loading Docks  0
  • Zoning  IL
  • Est. Total Acres  0.89
  • Source Of Est Acres  Othr
  • Lot Dimensions  
  • Owner  
  • Tradename  
    • ASSESSMENT & TAXES  
  • Land Assessment  $149,500
  • Assessment Year  2020
  • Net Taxes  $11,561
  • Tax Year  2019
  • Improvements  $366,500
  • Total Assessment  $516,000
    • ANNUAL INCOME/EXPENSES  
  • Income/Expenses Year  $2,021
  • Gross Operating Income  $51,000
  • Annual Operating Exp  $3,000
  • Net Operating Income  $48,000
    • UNIT INFORMATION  
    Unit Lease Type Lease Exp. Date Renewal Option Base Annual Rent Annual Rent/SqFt Other Fees/SqFt Gross SqFt
    1 Mixed 4/30/28 Yes $51,000 $8 $0 6,000
    2 - 0 0 $0 $0 $0 0
    3 - 0 0 $0 $0 $0 0
    Items Included 
    Items Excluded  Seller's and tenant's property
    INTERIOR FEATURES  
  • Heating/Cooling  Central air, Forced air
  • Water/Waste  Municipal sewer, Municipal water
  • Basement  Full
  • Fuel  Natural gas
  • Seating Capacity  51-75 persons
    • EXTERIOR FEATURES  
  • Type   Office
  • Exterior Treatment  Brick, Wood
  • Building Parking  11-20 spaces, Paved
  • Roofing  Other
  • Terms/Option  
  • Miscellaneous  
    • OTHER FEATURES  
  • Documents on File  
  • Location  Business district, Near Major Highway
  • Tenant Pays  Air Conditioning, Electric, Heat, Janitorial, Sewer, Trash Services, Water
  • Present Use  Other
  • Licenses  None
  • Lease Type  Other
  • Occupied by  Tenant(s)
  • Sale Includes  N/A
  • Features  Private office(s), Reception area, Shared Restrooms, Shared conference room



    • Above Information Deemed Reliable, But Not Guaranteed

    Listing Courtesy of Exit Realty Hgm