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602-604-610 S Park St 3,  Madison,  WI  53715 $1,790,000 Expired
602-604-610 S Park St 3,  Madison,  WI  53715
$1,790,000
Expired
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 Property Type Business/Commercial
 Parcel # 0709-233-1824-4
 County Dane
 Sub Area W14
 Municipality Madison
 MLS# 1908198
 Listing Date 05/01/2021

MLS Public Remarks  The listing price includes two parcel #s: 0709-233-1824-4 (602 & 604 S Park St) and 0709-233-1823-6 (610 S Park St), total of three (s) Commercial spaces. 602 currently hosts a Vietnamese restaurant; monthly rent is $4120 incls RE Tax & Property Insurance; 604 is currently vacant; 610 is the home for a very successful Chinese restaurant Ichiban; Monthly rent is $7210; tenants pay RE Tax & property insurance; The properties are located at the historical corridor of Park Street closing to downtown, UW-Madison, walking distance to Meriter Hospital & St. Mary Hospital; The area is full of business activities and new real estate redevelopment. Together with 618-622 S Park (currently also for sale), it could be an ideal RE development block for energetic and entrepreneur RE developer.
LOCATION  
  • Location  City
  • Other Marketing Area  
  • Mailing City  Madison
  • C/T/V  City
  • Unit #  3
  • Directions  West Beltline Exist At Park Street; Going North. The Buildings Are On The West Side Of Park St Between Emerald St And Erin St
    • BUILDING DESCRIPTION  
  • Real estate for sale  Yes
  • Business for sale  No
  • For lease only  No
  • Ann. Rent/SqFt  $22
  • Total Units/Bldg  3
  • Building Gross SqFt  8,907
  • Net Leasable SqFt  8,907
  • Year Built  1928
  • Source for Year Built  PubR
  • Approx Bldg Dimen  120x160
  • Street Frontage  120
  • Parking Fees/Mo.  $0
  • Onsite Parking  3
  • # of Stories  1
  • Ceiling Height Min  99
  • Ceiling Height Max  99
  • Number of Loading Docks  0
  • Zoning  Commercial
  • Est. Total Acres  0.24
  • Source Of Est Acres  PubR
  • Lot Dimensions  160x180
  • Owner  
  • Tradename  
    • ASSESSMENT & TAXES  
  • Land Assessment  $135,000
  • Assessment Year  2021
  • Net Taxes  $19,802
  • Tax Year  2020
  • Improvements  $750,000
  • Total Assessment  $885,000
    • 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 Other Oct 2022 Yes $49,440 $22 $0 2,250
    2 Triple Net 12/31/2022 Yes $96,000 $21 $0 4,407
    3 - 0 0 $0 $0 $0 0
    Items Included 
    Items Excluded 
    INTERIOR FEATURES  
  • Heating/Cooling  Central air, Forced air, Zoned heating
  • Water/Waste  Municipal sewer, Municipal water
  • Basement  Partial, Poured concrete foundatn
  • Fuel  Natural gas
  • Seating Capacity  51-75 persons
    • EXTERIOR FEATURES  
  • Type   Restaurant/Supper Club, Retail
  • Exterior Treatment  Brick, Steel Frame
  • Building Parking  1-5 spaces
  • Roofing  All flat, Rubber/membrane
  • Terms/Option  
  • Miscellaneous  
    • OTHER FEATURES  
  • Documents on File  Lease(s)
  • Location  Business district, Corner, Free standing, Near public transportatn
  • Tenant Pays  Air Conditioning, All expenses, Electric, Heat, Insurance, Janitorial, Parking, Sewer, Snow removal, Taxes, Trash Services, Water
  • Present Use  Restaurant/Supper Club
  • Licenses  Food
  • Lease Type  Multiple years, Renewal options, Triple net
  • Occupied by  Tenant(s)
  • Sale Includes  Lease(s)
  • Features  Public rest rooms



    • Above Information Deemed Reliable, But Not Guaranteed

    Listing Courtesy of Tri-River Realty