Single-Story Brick Office
New
For Sale
$699,900
1 Sherman, Madison, WI 53704
Two storefront entrances and a covered walkway support a flexible professional-office layout.
Property Size3,672 SF
Lot Size0.39 Acres
Price / SF$190.60
Days on Market5
Property Features for 1 Sherman
General Information
Standard status
Active
Size
3,672 SF
Lot size
0.39 Acres
Property subtype
Commercial
Zoning
TR-V2
Site & Location
Neighborhood
Emerson East Neighborhood Association
Additional Details
Property Use
Office
Amenities
two storefront entries
abundant windows
full-length covered walkway
Building Details
Year Built
1949
Buildings
1
Stories
1
Construction
brick
Listing Agency:
American, REALTORS
Listed By:
David Baehr · License #5260990
(608) 213-6686
Source:
Viewhomesinwisconsin
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 3:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of American, REALTORS
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1949, this 3,672-square-foot brick office building occupies a 0.385-acre parcel for the owner’s exclusive use within Sherman Terrace Condominium Homes. The single-story property has two storefront entrances, abundant windows, a covered walkway extending along the building, and a large surface parking area. The owner has exclusive rights to alter the parcel, add to the building, or construct new improvements, subject to zoning.
The property is near Tenney Park and Lake Mendota, with the Capitol, East Washington corridor, and downtown described as minutes away. It is zoned TR-V2. The owner is exempt from residential HOA dues and pays a 2.48% share of water and sewer, administration, and master insurance costs. The sale is as-is; buyers are to verify square footage, zoning, permitted uses, and easements.
The property is near Tenney Park and Lake Mendota, with the Capitol, East Washington corridor, and downtown described as minutes away. It is zoned TR-V2. The owner is exempt from residential HOA dues and pays a 2.48% share of water and sewer, administration, and master insurance costs. The sale is as-is; buyers are to verify square footage, zoning, permitted uses, and easements.
Key Highlights
- 3,672‑square‑foot, single‑story brick office building built in 1949
- Exclusive‑use 0.385‑acre parcel within Sherman Terrace Condominium Homes
- Two storefront entrances, abundant windows, and a full‑length covered walkway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,945
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,238,900
$1.2M
Cap Rate 7%
$884,929
$884.9K
Cap Rate 9%
$688,278
$688.3K
Market Conditions
NOI Build-Up for 3,672 SF
Gross rent
$96.9K $26.40/SF
− Vacancy
−$14.3K −$3.91/SF
EGI
$82.6K $22.49/SF
− OpEx
−$20.6K −$5.62/SF
NOI
$61.9K $16.87/SF
Area
Madison, WI
Vacancy
14.80%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,238,900
Cap Rate 7%
$884,929
Cap Rate 9%
$688,278
Alternative Uses
Best Use
Office B
$884.9K
$774.3K – $1.03M
NOI $61,945 @ 7.0% cap · market cap 8.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$938.6K – $1.25M
NOI $75,085 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
476
Businesses Nearby
Explore this area
Business Placement
Demographics for 53704, WI
47,066
Population
22,740
Households
2.1
Avg Household Size
38
Median Age
49%
College-Educated
96%
High-School Grad
21.9 sq mi
ZIP Area
2,149
Density / Sq Mi
$75,007
Median Household Income
$47,665
Median Earnings
$1,231
Median Rent
$289,000
Median Home Value
Market
Vacancy Rate% for Office in Madison, WI
Frequently Asked Questions
What type of property is this?
Office building - Two storefront entrances and a covered walkway support a flexible professional-office layout.
Where is this office building located?
The property is located at 1 Sherman Madison, WI.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 3,672‑square‑foot, single‑story brick office building built in 1949; Exclusive‑use 0.385‑acre parcel within Sherman Terrace Condominium Homes; Two storefront entrances, abundant windows, and a full‑length covered walkway
