441 N Lake St - Storefront Retail/Office FOR SALE


Madison, WI 53715- Downtown Madison
$3,000,000 USD
608-819-6500
441 N Lake St, Madison, WI for Sale
$3,000,000 USD
Storefront Retail/Office - FOR SALE
1/29
null | 4.55% Cap Rate

441 N Lake St
Madison, WI 53715
Downtown Madison


HIGHLIGHTS

  • Right downtown in the heart of Madison Wisconsin Just off State Street
  • Great long-term consistent and safe lease
  • large parking garage right next door
  • Perfect for restaurant use and in great condition!

OVERVIEW

This Commercial property has just entered into a long-term NNN lease with the United States Postal Service starting 03/01/2022 through the date 02/28/2027 with an annual NOI of $136,610.00 and the option to extended said lease from 03/01/2027 - 02/29/2032 with a new Rent of $150,271.00. These leases are extremely valuable for long term investors because of their long length, their Triple Net leasing and their consistency as they are backed by the United States Government. In addition, in the next year construction on a new 12 story apartment and commercial vendor building will be started. This will replace the old neighboring parking garage with a 600-stall subsurface parking garage. Any additional information such as the lease title etc. can be presented upon request. Easy access in the back for storage or moving purposes, but there is technically no docks to site!

FOR SALE DETAILS

PRICE

$3,000,000 USD

PRICE/SF

$834 USD /SF

CAP RATE

4.55%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

USPS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Distribution, undefined

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1968

SPRINKLERS

-

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

C-4

APN/PARCEL ID

0709-232-0308-1

ASK ABOUT THIS PROPERTY

Peter SorgeJDM PropertiesMore Info
608-819-6500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Peter SorgeJDM PropertiesMore Info
608-819-6500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.