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520-528 State St,  Madison,  WI  53703 $3,500,000 Sold
520-528 State St,  Madison,  WI  53703
$3,500,000
Sold
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 Property Type Business/Commercial
 Parcel # 070914420206
 County Dane
 Sub Area W01
 Municipality Madison
 MLS# 1935763
 Listing Date 06/01/2022
 Sold Price $3,300,000
 Close Date 11/14/2022 12:00 AM

MLS Public Remarks  An amazing investment opportunity is now available in downtown Madison, WI! 520-522 State St. is a 3 story mixed-use building with one commercial space on the main level and 11 apartment units above. 528 State St. is a 2 story mixed-use building with one commercial space on the main level and 3 apartment units above. Beautiful craftsmanship and attention to detail throughout each buildings is evident. Both properties have parking spaces available in the rear with a shared driveway access. A rare find for a State Street property and a draw for any commercial tenant! Parking spaces are currently used by the commercial employees and customers. State St. has remained one of Dane Counties most recognizable and walked streets as well as a sought after destination for any resident or business.
Documents and Related Links  
1) Apartment Floor Plans
* 5 Documents Not Available via MLS
LOCATION  
  • Location  City
  • Other Marketing Area  
  • Mailing City  Madison
  • C/T/V  City
  • Unit #  
  • Directions  John Nolan Dr. To S. Broom St. Head North On Broom St Until You Cross W. Gorham St.
    • BUILDING DESCRIPTION  
  • Real estate for sale  Yes
  • Business for sale  No
  • For lease only  No
  • Ann. Rent/SqFt  $0
  • Total Units/Bldg  16
  • Building Gross SqFt  16,702
  • Net Leasable SqFt  11,714
  • Year Built  1928
  • Source for Year Built  PubR
  • Approx Bldg Dimen  0x0
  • Street Frontage  66
  • Parking Fees/Mo.  $0
  • Onsite Parking  6
  • # of Stories  3
  • Ceiling Height Min  8
  • Ceiling Height Max  10
  • Number of Loading Docks  0
  • Zoning  DC
  • Est. Total Acres  0.2
  • Source Of Est Acres  PubR
  • Lot Dimensions  
  • Owner  
  • Tradename  
    • ASSESSMENT & TAXES  
  • Land Assessment  $485,000
  • Assessment Year  2021
  • Net Taxes  $41,858
  • Tax Year  2021
  • Improvements  $1,470,000
  • Total Assessment  $1,955,000
    • 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 2 - Commer See leases 0 $0 $0 $0 0
    2 14 - Res See leases 0 $0 $0 $0 0
    3 - 0 0 $0 $0 $0 0
    Items Included 14 refrigerators, 13 stoves/ovens, 3 boilers, 3 water heaters, 1 coin op washer, 1 coin op dryer, window coverings for the residential units
    Items Excluded  Sellers and tenants personal belongings.
    INTERIOR FEATURES  
  • Heating/Cooling  Steam
  • Water/Waste  Municipal sewer, Municipal water
  • Basement  Full
  • Fuel  Natural gas
  • Seating Capacity  
    • EXTERIOR FEATURES  
  • Type   Apartment building, Beauty/barber, Retail
  • Exterior Treatment  Brick
  • Building Parking  6-10 spaces, Onsite, Paved
  • Roofing  All flat, Rubber/membrane
  • Terms/Option  
  • Miscellaneous  
    • OTHER FEATURES  
  • Documents on File  
  • Location  Business district, Near public transportatn
  • Tenant Pays  Electric
  • Present Use  Apartment building, Beauty/barber shop, Retail
  • Licenses  
  • Lease Type  Mixed lease types
  • Occupied by  
  • Sale Includes  Equipment
  • Features  



    • Above Information Deemed Reliable, But Not Guaranteed

    Listing Courtesy of Madison Property Management, Inc.