Presented by...
Paula Dollard
Mobile: (608) 469-3374
[email protected]

502 State St,  Madison,  WI  53703 $8,000 Expired
502 State St,  Madison,  WI  53703
$8,000
Expired
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 Property Type Business/Commercial
 Parcel # 0709-144-2023-0
 County Dane
 Sub Area W01
 Municipality Madison
 MLS# 1905138
 Listing Date 03/28/2021

MLS Public Remarks  FOR LEASE. $8000 per month for this stand Alone building at Fantastic location! This building, at the corner of State Street & Gilman St and facing N Broom St is one of few buildings in Madison downtown area possesses the best and greatest exposure. Koi Sushi is currently running at this location by the property owner. Various types of drinking are also provided; $50K for all restaurant and Sushi bar equipment, $1.9K for all bar /drink/coffee equipment; Tenants shall pay 45% of the building property tax & the property insurance on top of the monthly rent; Tenants shall also pay 45% of the water bill.
LOCATION  
  • Location  City
  • Other Marketing Area  
  • Mailing City  Madison
  • C/T/V  City
  • Unit #  
  • Directions  Building Is At The Corner Of State St & Gilman St & N Broom St
    • BUILDING DESCRIPTION  
  • Real estate for sale  No
  • Business for sale  Yes
  • For lease only  Yes
  • Ann. Rent/SqFt  $36
  • Total Units/Bldg  3
  • Building Gross SqFt  7,537
  • Net Leasable SqFt  2,649
  • Year Built  1890
  • Source for Year Built  PubR
  • Approx Bldg Dimen  9999
  • Street Frontage  93
  • Parking Fees/Mo.  $0
  • Onsite Parking  0
  • # of Stories  2
  • Ceiling Height Min  9
  • Ceiling Height Max  12
  • Number of Loading Docks  0
  • Zoning  C2
  • Est. Total Acres  0.1
  • Source Of Est Acres  PubR
  • Lot Dimensions  
  • Owner  
  • Tradename  
    • ASSESSMENT & TAXES  
  • Land Assessment  $283,000
  • Assessment Year  2020
  • Net Taxes  $40,924
  • Tax Year  2020
  • Improvements  $1,542,000
  • Total Assessment  $1,825,000
    • ANNUAL INCOME/EXPENSES  
  • Income/Expenses Year  $0
  • Gross Operating Income  $0
  • Annual Operating Exp  $0
  • Net Operating Income  $0
    • UNIT INFORMATION  
    Unit Lease Type Lease Exp. Date Renewal Option Base Annual Rent Annual Rent/SqFt Other Fees/SqFt Gross SqFt
    1 NNN None Yes $96,000 $36 $0 2,649
    2 - 0 0 $0 $0 $0 0
    3 - 0 0 $0 $0 $0 0
    Items Included 
    Items Excluded 
    INTERIOR FEATURES  
  • Heating/Cooling  Central air, Forced air
  • Water/Waste  Municipal sewer, Municipal water
  • Basement  Slab/None
  • Fuel  Natural gas
  • Seating Capacity  31-50 persons
    • EXTERIOR FEATURES  
  • Type   Restaurant/Supper Club, Retail, Tavern
  • Exterior Treatment  Brick, Steel, Stone
  • Building Parking  No Parking
  • Roofing  All flat, Rubber/membrane
  • Terms/Option  
  • Miscellaneous  
    • OTHER FEATURES  
  • Documents on File  Blue prints
  • Location  Business district, Corner, Free standing, Near public transportatn
  • Tenant Pays  All expenses
  • Present Use  Restaurant/Supper Club, Tavern
  • Licenses  Food
  • Lease Type  Triple net
  • Occupied by  Owner
  • Sale Includes  Other
  • Features  



    • Above Information Deemed Reliable, But Not Guaranteed

    Listing Courtesy of Tri-River Realty