Overview

Listing ID:#20148892

Building SF:24,000

Parcel Size:1.80 Acres

Price:$1,650,000

Building PSF:$68.75

Property Type:Industrial

Date Available:Now

Net Lease Office/Warehouse Building

This well maintained, fully leased, office/showroom/warehouse building is on Madison's East side, just off Stoughton Rd and easy access to both North & South transportation corridors. Located in a business park environment, this building has long term tenants. There is a total 7 units possible with three tenants occupying all space. Tenants pay pro-rated increase in base year taxes, prorated cam, separately metered gas & electric, landlord currently pays water & sewer and lawn care/snow removal. Capital improvements since 2014 include Roof, paving,, underground storm drain piping, loading dock concrete repair, and 2020 improvements of blacktop replacement, guard rails & pilons.

Financial Information

Gross Income:$164,600

Total Expenses:$46,317

Net Op. Income:$118,286

Cap Rate:7.17%

Current Tenants:3

Percent Leased:100.00%

Real Estate Taxes:$27,870

Tax Year:2020

Building Details

Building Type:Multi-Tenant

Building Status:Existing

Year Built:1989

Year Renovated:2014

Number of Floors:1

Number of Units:7

Zoning:IL

Outside Parking:Yes

Municipal Sewer:Yes

Municipal Water:Yes

Docks:Yes

Drive Doors:Yes

Contact Listing Agent

Chris Loshaw

608-665-1630
608-575-7071

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