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414-502 Atlas Ave,  Madison,  WI  53718 $1,000,000 Expired
414-502 Atlas Ave,  Madison,  WI  53718
$1,000,000
Expired
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 Property Type Business/Commercial
 Parcel # 0710-091-0205-6
 County Dane
 Sub Area E11
 Municipality Madison
 MLS# 1898512
 Listing Date 11/23/2020

MLS Public Remarks  Expand your rental portfolio with these Prairie-Style, east-side office buildings with Highway 51 exposure! Tucked into the trees off Atlas Avenue, this set of buildings which feature striking wood atriums and fantastic tenants can take your portfolio to the next level. Sit back and collect your cash flow from these buildings in this highly-desired business district. Whether it's your first commercial property purchase, or an addition to your current stable of properties, these properties on Atlas Ave are winners in anyone's ledger. 414 has possibility of owner occupant. Measurements are approximate and should be confirmed with buyer if important. Financials are best approximations of combination of properties. Properties listed separately as MLS#'s 1898509, and 1898508
Documents and Related Links  
* 4 Documents Not Available via MLS
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  $11
  • Total Units/Bldg  2
  • Building Gross SqFt  12,000
  • Net Leasable SqFt  12,000
  • Year Built  1976
  • Source for Year Built  PubR
  • Approx Bldg Dimen  64x50 +
  • Street Frontage  228
  • Parking Fees/Mo.  $0
  • Onsite Parking  20
  • # of Stories  1
  • Ceiling Height Min  8
  • Ceiling Height Max  24
  • Number of Loading Docks  0
  • Zoning  IL
  • Est. Total Acres  1.84
  • Source Of Est Acres  PubR
  • Lot Dimensions  
  • Owner  
  • Tradename  
    • ASSESSMENT & TAXES  
  • Land Assessment  $310,000
  • Assessment Year  2020
  • Net Taxes  $23,708
  • Tax Year  2019
  • Improvements  $748,000
  • Total Assessment  $1,058,000
    • ANNUAL INCOME/EXPENSES  
  • Income/Expenses Year  $0
  • Gross Operating Income  $117,000
  • Annual Operating Exp  $36,708
  • Net Operating Income  $80,292
    • UNIT INFORMATION  
    Unit Lease Type Lease Exp. Date Renewal Option Base Annual Rent Annual Rent/SqFt Other Fees/SqFt Gross SqFt
    1 Mixed MTM Yes $66,000 $11 $0 6,000
    2 Mixed 4/30/2028 Yes $51,000 $8 $0 6,000
    3 - 0 Yes $0 $0 $0 0
    Items Included 
    Items Excluded  Seller's and/or tenant's property
    INTERIOR FEATURES  
  • Heating/Cooling  Forced air
  • Water/Waste  Municipal sewer, Municipal water
  • Basement  
  • Fuel  Natural gas
  • Seating Capacity  
    • EXTERIOR FEATURES  
  • Type   Office, Warehouse
  • Exterior Treatment  
  • Building Parking  36-55 spaces, Paved
  • Roofing  Other
  • Terms/Option  
  • Miscellaneous  
    • OTHER FEATURES  
  • Documents on File  Lease(s)
  • Location  Business district
  • Tenant Pays  Air Conditioning, Electric, Heat, Sewer, Water
  • Present Use  Office, Other
  • Licenses  
  • Lease Type  Mixed lease types
  • Occupied by  
  • Sale Includes  N/A
  • Features  Private office(s), Shared Restrooms



    • Above Information Deemed Reliable, But Not Guaranteed

    Listing Courtesy of Exit Realty Hgm