Brick Storefront Building with
1 Sherman Terrace, Madison, WI 53704
For Sale
$699,900
Business/Comm, Madison, WI
Property Size3,672 SF
Lot Size0.39 Acres
Price / SF$190.60
Days on Market17
Property Features for 1 Sherman Terrace
General Information
Property type
Property subtype
Zoning
Security features
Interior features
Fencing
Lot features
Directions
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Amenities
covered walkway
on-site surface parking lot
Building Details
Year built
Number of units
Roof type
Additional Structures
Buildings
Listing Agency:
American, REALTORS
(608) 834-2600
Listed By:
David Baehr · License WI #5260990
(608) 213-6686
Added: Oct 26
Changed: Nov 11
Last Checked: Nov 11 at 1:06PM
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.
The single-story brick storefront contains 3,672 square feet on an exclusive-use 0.385-acre parcel within Sherman Terrace Condominium Homes. Two storefront entrances, display windows, a full-length covered walkway, reception area, private offices, restrooms, and storage are among the existing features. The property also has a large surface parking lot and 400 AMP electrical service.
Zoned TR-V2, the parcel is subject to condominium documents and easements. The owner holds exclusive rights to modify, expand, or construct improvements on the parcel, subject to zoning. The property is bank-owned and offered in as-is condition.
Zoned TR-V2, the parcel is subject to condominium documents and easements. The owner holds exclusive rights to modify, expand, or construct improvements on the parcel, subject to zoning. The property is bank-owned and offered in as-is condition.
Key Highlights
- 3,672‑square‑foot, single‑story brick storefront building
- Exclusive‑use 0.385‑acre parcel within Sherman Terrace Condominium Homes
- Two storefront entrances, display windows, and full‑length 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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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
Properties on Market for Storefront properties in Dane County
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, display windows, and private offices support a range of storefront or 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 storefront building; Exclusive‑use 0.385‑acre parcel within Sherman Terrace Condominium Homes; Two storefront entrances, display windows, and full‑length covered walkway
