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118 State Street,  Madison,  WI  53703 $1,300,000 Sold
118 State Street,  Madison,  WI  53703
$1,300,000
Sold
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 Property Type Business/Commercial
 Parcel # 070914426064
 County Dane
 Sub Area W01
 Municipality Madison
 MLS# 1957764
 Listing Date 06/13/2023
 Sold Price $1,200,000
 Close Date 03/29/2024 12:00 AM

MLS Public Remarks  Downtown bar/restaurant or retail building for sale. Exposed brick wall and decorative metal railing on stairwell create that great architectural downtown vibe everyone wants. Space has presentation kitchen, 2 full bars, ample seating on two levels, with prep area and liquor locker in lower level. All FF&E in the building is included. Entrances on State Street and N Carroll Street with service entrance to lower level. Also available for lease at $23.50/SF NNN.
LOCATION  
  • Location  City
  • Other Marketing Area  
  • Mailing City  Madison
  • C/T/V  City
  • Unit #  
  • Directions  20 Ft Frontage On State Street, Downtown Madison, W With 37 Ft Frontage On Carroll St.
    • BUILDING DESCRIPTION  
  • Real estate for sale  Yes
  • Business for sale  No
  • For lease only  No
  • Ann. Rent/SqFt  $0
  • Total Units/Bldg  1
  • Building Gross SqFt  5,626
  • Net Leasable SqFt  5,626
  • Year Built  1938
  • Source for Year Built  PubR
  • Approx Bldg Dimen  8119
  • Street Frontage  20
  • Parking Fees/Mo.  $0
  • Onsite Parking  N
  • # of Stories  2
  • Ceiling Height Min  8
  • Ceiling Height Max  18
  • Number of Loading Docks  0
  • Zoning  PD
  • Est. Total Acres  0.08
  • Source Of Est Acres  PubR
  • Lot Dimensions  3294SF
  • Owner  
  • Tradename  
    • ASSESSMENT & TAXES  
  • Land Assessment  $180,000
  • Assessment Year  2023
  • Net Taxes  $20,820
  • Tax Year  2023
  • Improvements  $985,000
  • Total Assessment  $1,165,000
    • ANNUAL INCOME/EXPENSES  
  • Income/Expenses Year  $2,023
  • 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 0 0 0 $0 $0 $0 5,626
    2 - 0 0 $0 $0 $0 0
    3 - 0 0 $0 $0 $0 0
    Items Included Some FF&E in the building is included, call for details.
    Items Excluded 
    INTERIOR FEATURES  
  • Heating/Cooling  Central air, Forced air
  • Water/Waste  Municipal water
  • Basement  Full
  • Fuel  Natural gas
  • Seating Capacity  
    • EXTERIOR FEATURES  
  • Type   Restaurant/Supper Club, Retail, Service, Tavern
  • Exterior Treatment  Brick
  • Building Parking  No Parking
  • Roofing  Other
  • Terms/Option  
  • Miscellaneous  
    • OTHER FEATURES  
  • Documents on File  
  • Location  Business district, Free standing
  • Tenant Pays  N/A
  • Present Use  Restaurant/Supper Club, Retail, Service, Tavern
  • Licenses  
  • Lease Type  Triple net
  • Occupied by  Vacant
  • Sale Includes  Equipment
  • Features  Inside storage, Private office(s), Public rest rooms



    • Above Information Deemed Reliable, But Not Guaranteed

    Listing Courtesy of Altus Commercial Real Estate, Inc.