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    2 Mills St Madison, WI 53715

    Sponsored
    For Sale
    Contact for pricing

    Prime location, restaurant, apartments, redevelopment potential.

    Property size:
    7,264 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional mixed-use property, situated at 2 S Mills Street in Madison, Wisconsin, presents a unique investment opportunity. The building boasts a highly desirable location between the vibrant downtown area and the University of Wisconsin campus, directly on the corner of Regent Street and S. Mills Street. The ground floor encompasses a substantial 2,464 square foot restaurant space, complete with a fully equipped commercial kitchen featuring a 20-foot hood, a front bar equipped with a beer tap system, a dedicated dining area, and ample walk-in cooler storage. This space is further enhanced by a liquor license, allowing for an impressive 880-person outdoor beer garden during University of Wisconsin football games. Convenient on-site parking is provided by 11 spaces, supplemented by a detached three-car garage. The upper floors offer residential income potential with two apartments: a two-bedroom, one-bathroom unit and a three-bedroom, one-bathroom unit. Currently owner-occupied, the property offers flexibility regarding occupancy. The 0.24-acre lot presents significant redevelopment potential, with possibilities including an eight-story hotel or the assembly of adjacent lots for a larger student housing project. The total building size is 7,264 square feet. This property is priced at $0 and is being offered for sale.

    Property Features for 2 Mills St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    7,264 SF
    Lot Size
    10,454 SF

    Building Details

    Year Built
    1923
    Property Profile Location Intelligence

    Current Use by Public Records

    Hong Kong Cafe Restaurant

    Suggested Use

    Realty agency Law Firm Spa & Massage Restaurant Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    DANE
    State
    Wisconsin
    Longitude
    -89.40432
    Latitude
    43.06756

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    FAQs

    What type of property is this?
    Commercial real estate - Prime location, restaurant, apartments, redevelopment potential.
    Where is this commercial real estate located?
    The property is located at 2 Mills St Madison, WI.
    (608) 251-8777
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2 Mills St Madison, WI 53715
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