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14 W Mifflin St,  Madison,  WI  53703 $4,000,000 Sold
14 W Mifflin St,  Madison,  WI  53703
$4,000,000
Sold
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 Property Type Business/Commercial
 Parcel # 070914425074
 County Dane
 Sub Area W01
 Municipality Madison
 MLS# 1909190
 Listing Date 05/14/2021
 Sold Price $3,800,000
 Close Date 12/09/2021 12:00 AM

MLS Public Remarks  14 West Mifflin Street provides a rare opportunity for an owner-occupant or value-add investor looking to acquire a piece of iconic Capitol Square real estate. The 3-story building, originally constructed in 1924 as Baron's Department Store, offers historic features blended with modern adaptations. The street level retail has a long-term lease with Rare Steakhouse, a premiere downtown dining experience which pays tribute to the old nostalgic romance of great American Steakhouses. The second and third floor office space is currently 85% occupied with short-term leases, offering maximum flexibility to a future owner-occupant or investor.
Documents and Related Links  
1) 14 W Mifflin St Offering Memorandum
LOCATION  
  • Location  City
  • Other Marketing Area  
  • Mailing City  Madison
  • C/T/V  City
  • Unit #  
  • Directions  Https://Goo.gl/Maps/9lxbaujnnz2vlu3ha
    • BUILDING DESCRIPTION  
  • Real estate for sale  Yes
  • Business for sale  No
  • For lease only  No
  • Ann. Rent/SqFt  $0
  • Total Units/Bldg  14
  • Building Gross SqFt  36,760
  • Net Leasable SqFt  36,760
  • Year Built  1924
  • Source for Year Built  Slr
  • Approx Bldg Dimen  68 x 13
  • Street Frontage  68
  • Parking Fees/Mo.  $0
  • Onsite Parking  no
  • # of Stories  3
  • Ceiling Height Min  12
  • Ceiling Height Max  14
  • Number of Loading Docks  0
  • Zoning  DC
  • Est. Total Acres  0.25
  • Source Of Est Acres  Slr
  • Lot Dimensions  
  • Owner  
  • Tradename  
    • ASSESSMENT & TAXES  
  • Land Assessment  $960,000
  • Assessment Year  2021
  • Net Taxes  $95,168
  • Tax Year  2020
  • Improvements  $3,275,000
  • Total Assessment  $4,235,000
    • ANNUAL INCOME/EXPENSES  
  • Income/Expenses Year  $2,020
  • Gross Operating Income  $434,700
  • Annual Operating Exp  $273,200
  • Net Operating Income  $161,500
    • UNIT INFORMATION  
    Unit Lease Type Lease Exp. Date Renewal Option Base Annual Rent Annual Rent/SqFt Other Fees/SqFt Gross SqFt
    1 N/A N/A 0 $0 $0 $0 0
    2 - 0 0 $0 $0 $0 0
    3 - 0 0 $0 $0 $0 0
    Items Included 
    Items Excluded 
    INTERIOR FEATURES  
  • Heating/Cooling  Other
  • Water/Waste  Municipal water
  • Basement  Full
  • Fuel  Other
  • Seating Capacity  
    • EXTERIOR FEATURES  
  • Type   Office, Restaurant/Supper Club, Retail
  • Exterior Treatment  Brick/Stone, Other, Steel Frame, Wood
  • Building Parking  No Parking
  • Roofing  All flat, Rubber/membrane
  • Terms/Option  
  • Miscellaneous  
    • OTHER FEATURES  
  • Documents on File  
  • Location  Business district, Other, Residential area
  • Tenant Pays  N/A
  • Present Use  Office, Restaurant/Supper Club
  • Licenses  
  • Lease Type  Other
  • Occupied by  
  • Sale Includes  Other
  • Features  



    • Above Information Deemed Reliable, But Not Guaranteed

    Listing Courtesy of Key Commercial Real Estate, Llc