Restaurant Building Near Maple
For Sale
$1,400,000
1025 N Sherman Ave, Madison, WI 53703
Turnkey restaurant opportunity near Maple Bluff Country Club.
Property Size6,256 SF
Price / SF$223.79
Days on Market167
Property Features for 1025 N Sherman Ave
General Information
Standard status
Active
Size
6,256 SF
Taxes and HOA fees
Annual Taxes
$22,914
Listing Agency:
Madison Property Management, Inc.
(608) 268-4912
Listed By:
Jim Stopple · License #9012003
(608) 268-4912
Source:
Exprealty
Added: Mar 10
Changed: Aug 23
Last Checked: Aug 21 at 10:01PM
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 Madison Property Management, Inc.
Investment Insights
Based on property information with market context.
This is a 6,256 square foot free-standing restaurant building, formerly the Esquire Supper Club from 1947 to 2026. It is zoned CC-T and located at the corner of N. Sherman Ave and Roth St, just 3 blocks from Maple Bluff Country Club and 3.5 miles from downtown Madison. The sale price includes all restaurant equipment and the real estate. The property features a monument sign on the corner lot for visibility, ample on-site parking, a bar area, a dining area, and a large kitchen setup suitable for in-house service and catering. Additionally, there is a 5,244 square foot basement. This turnkey location presents an opportunity for an owner/operator or as an investment property.
Key Highlights
- Turnkey restaurant opportunity including real estate and all equipment.
- High‑visibility corner lot location on N. Sherman Ave and Roth St.
- Zoned CC‑T, suitable for various commercial uses.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$101,629
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,032,580
$2.0M
Cap Rate 7%
$1,451,843
$1.5M
Cap Rate 9%
$1,129,211
$1.1M
Market Conditions
NOI Build-Up for 6,256 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$142.6K $22.80/SF
− Vacancy
−$7.1K −$1.14/SF
EGI
$135.5K $21.66/SF
− OpEx
−$33.9K −$5.42/SF
NOI
$101.6K $16.25/SF
Area
Madison, WI
Vacancy
5.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,032,580
Cap Rate 7%
$1,451,843
Cap Rate 9%
$1,129,211
Alternative Uses
Best Use
Specialty Retail
$1.45M
$1.27M – $1.69M
NOI $101,629 @ 7.0% cap · market cap 7.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.83M
$1.60M – $2.13M
NOI $127,923 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
952
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53703, WI
38,512
Population
21,025
Households
1.8
Avg Household Size
27
Median Age
69%
College-Educated
98%
High-School Grad
1.8 sq mi
ZIP Area
21,396
Density / Sq Mi
$46,618
Median Household Income
$27,923
Median Earnings
$1,445
Median Rent
$472,000
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey restaurant opportunity near Maple Bluff Country Club.
Where is this conventional restaurant located?
The property is located at 1025 N Sherman Ave Madison, WI.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Turnkey restaurant opportunity including real estate and all equipment.; High‑visibility corner lot location on N. Sherman Ave and Roth St.; Zoned CC‑T, suitable for various commercial uses.
