Brick Office
New
For Sale
$699,900
1 Sherman Terrace, Madison, WI 53704
The single-story layout includes two storefront entrances, abundant windows and a covered walkway.
Property Size3,672 SF
Lot Size0.39 Acres
Price / SF$190.60
Days on Market3
Property Features for 1 Sherman Terrace
General Information
Standard status
Active
Size
3,672 SF
Lot size
0.39 Acres
Property subtype
Commercial
Zoning
TR-V2
Site & Location
Neighborhood
Sherman Terrace Association
Additional Details
Property Use
Office
Amenities
covered walkway
Building Details
Year Built
1949
Buildings
1
Stories
1
Construction
brick
Listing Agency:
American, REALTORS
Listed By:
David Baehr · License #3094
(608) 213-6686
Source:
Housesthatshine
Added: Oct 28
Last Checked: Oct 28 at 4:51AM
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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Investment Insights
Based on property information with market context.
This 3,672-square-foot, single-story brick office building was built in 1949 and occupies an exclusive-use 0.385-acre parcel within Sherman Terrace Condominium Homes. Two storefront entrances, abundant windows and a covered walkway running the building’s length support a flexible office or professional layout. A large surface parking lot is on site.
The owner holds the exclusive right to alter, expand or construct improvements on the parcel, subject to zoning. The property is in Madison, near Tenney Park and Lake Mendota, and a short drive from the Capitol, the East Washington corridor and downtown.
The parcel is exempt from residential HOA dues. The owner pays a 2.48% share of water, sewer, administration and master insurance costs. The property is offered as-is; zoning, permitted uses and easements are subject to buyer verification.
The owner holds the exclusive right to alter, expand or construct improvements on the parcel, subject to zoning. The property is in Madison, near Tenney Park and Lake Mendota, and a short drive from the Capitol, the East Washington corridor and downtown.
The parcel is exempt from residential HOA dues. The owner pays a 2.48% share of water, sewer, administration and master insurance costs. The property is offered as-is; zoning, permitted uses and easements are subject to buyer verification.
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.
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Current Use
Location Intelligence
Trade Area within ½ mile
454
Businesses Nearby
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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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Market
Vacancy Rate% for Office in Madison, WI
Frequently Asked Questions
What type of property is this?
Office building - The single-story layout includes two storefront entrances, abundant windows and a covered walkway.
Where is this office building 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 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
