Brick Storefront
New
For Sale
$699,900
1 Sherman Terrace, Madison, WI 53704
Business/Comm, Madison, WI
Property Size3,672 SF
Lot Size0.39 Acres
Price / SF$190.60
Days on Market5
Property Features for 1 Sherman Terrace
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
TR-V2
Security features
Security
Interior features
Alley, Private Restrooms, 440+ volt, Reception area, Signage available, Display window, Security fence, Inside storage, Outside storage, Private office(s), Fencing, Gas Hot Water Heater
Fencing
Fenced
Lot features
Free standing, Residential area, Corner, Near public transportatn, High Visibility
Directions
From Capitol Sq, E on E Johnson St to Tenney Park. L (north) on N Sherman Ave, then L (west) on Sherman Terrace to Unit 1 (commercial bldg).
Subdivision
MADISON - C E05
Standard status
Active
APN
0709-124-1301-3
Size
3,672 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15476
Amenities
covered walkway
on-site surface parking lot
Building Details
Year built
1949
Number of units
1
Roof type
Flat, Membrane
Additional Structures
Storage
Buildings
1
Listing Agency:
American, REALTORS
(608) 834-2600
Listed By:
David Baehr · License #5260990
(608) 213-6686
Added: Oct 26
Changed: Oct 29
Last Checked: Oct 30 at 12:06AM
MLS# 2035406
Copyright © 2026 REALTORS® Association of South Central Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This single-story brick storefront building contains 3,672 square feet on an exclusive-use 0.385-acre parcel within Sherman Terrace Condominium Homes. Two storefront entrances, display windows, and a covered walkway extend along the building. Interior features include private restrooms, reception space, private offices, and storage. The site also has a surface parking lot and fencing.
The property is near Tenney Park and Lake Mendota, with the Capitol, East Washington corridor, and downtown Madison described as a short drive away. Zoning is TR-V2. The parcel owner has exclusive rights to modify, expand, or construct improvements, subject to zoning. The property is offered in as-is condition, and buyers should verify permitted uses, zoning, measurements, and easements.
The property is near Tenney Park and Lake Mendota, with the Capitol, East Washington corridor, and downtown Madison described as a short drive away. Zoning is TR-V2. The parcel owner has exclusive rights to modify, expand, or construct improvements, subject to zoning. The property is offered in as-is condition, and buyers should verify permitted uses, zoning, measurements, and easements.
Key Highlights
- 3,672‑square‑foot, single‑story brick building
- Exclusive‑use 0.385‑acre parcel within Sherman Terrace Condominium Homes
- Two storefront entrances, display windows, and a covered walkway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,523
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,050,460
$1.1M
Cap Rate 7%
$750,329
$750.3K
Cap Rate 9%
$583,589
$583.6K
Market Conditions
NOI Build-Up for 3,672 SF
Gross rent
$79.3K $21.60/SF
− Vacancy
−$4.3K −$1.17/SF
EGI
$75.0K $20.43/SF
− OpEx
−$22.5K −$6.13/SF
NOI
$52.5K $14.30/SF
Area
Madison, WI
Vacancy
5.40%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,050,460
Cap Rate 7%
$750,329
Cap Rate 9%
$583,589
Alternative Uses
Best Use
Retail
$750.3K
$656.5K – $875.4K
NOI $52,523 @ 7.0% cap · market cap 7.50%
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.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
694
Businesses Nearby
Under-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Briar Loft — 2110 Bashford Ave, Madison, WI 53704
Frequently Asked Questions
What type of property is this?
Storefront property - Two entry points, expansive windows, and a covered walkway support a range of office and professional layouts.
Where is this storefront property located?
The property is located at 1 Sherman Terrace 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 building; Exclusive‑use 0.385‑acre parcel within Sherman Terrace Condominium Homes; Two storefront entrances, display windows, and a covered walkway
