Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2501 East Springs Drive Madison, WI 53704

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime commercial property ideal for automotive business near I-90.

    Type:General Commercial
    Property size:
    5,221 SF
    Lot size:
    3.26 Acres
    Price / SF:
    $0.00/SF
    Added:
    Sep 2, 2024
    Days on Market:
    602
    Last Refresh:
    Apr 1 at 8:24 pm

    Property Features for 2501 East Springs Drive

    General Information

    Standard status
    Active
    Size
    5,221 SF
    Lot size
    3.26 Acres
    Property subtype
    General Commercial

    Building Details

    Year Built
    2014

    We can help!

    Listing Contact
    Katie Lichtie

    Listing agent Katie Lichtie

    Listing office

    Listing date Sep 2, 2024

    Source Xome

    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 Katie Lichtie

    Overview

    Automotive Business Opportunity Near I-90

    This 3.26-acre property, constructed in 2014, presents an opportunity for launching or expanding an automotive business. Located approximately half a mile from I-90 and Hwy 151, the site features a 5,221 square foot building. The building includes a 2,298 square foot sales office with two private offices, a large reception area, and three private bathrooms. The 2,923-square-foot automotive shop is equipped with five 10' x 10' overhead doors, three hydraulic hoists, radiant heat, and floor drains. Additional features include 200 Amp power, washer/dryer hookups, and a mezzanine for upper storage.
    Location Intelligence

    Current Use by Public Records

    Goben Cars Car Dealership

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Pharmacy

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

    Similar Places Nearby

    • Simple Roadside Assistance — 4312 E Washington Ave, Madison, WI 53704
    • U-Haul Neighborhood Dealer — 5331 wayne terrace, madison, wi 53718
    • Trans Lease Inc — 2810 Crossroads Dr, Madison, WI 53718
    • Enterprise — crossroads dr, madison, wi 53718
    • Truck Rental Center at The Home Depot — 2425 E Springs Dr, Madison, WI 53704

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.2986218
    Latitude
    43.1322539

    Nearby Similar for Sale

    • $525,000

      Turn-Key Restaurant in Madison, WI

      Fully equipped restaurant with expansion potential in a prime location.
      2705 W Beltline Highway, Madison, WI 53713
      View Details
    • $699,900

      Versatile Commercial Building Near Park Street

      5,000 sq ft building on .5+ acre lot.
      2440 Perry Street, Madison, WI 53713
      View Details
    • $1,299,000

      Versatile Commercial Space on Madison's West

      Modern 5,250 sqft commercial space with high visibility.
      1225 Greenway Cross, Madison, WI 53713
      View Details
    • $1,600,000

      Restaurant Building Near Maple Bluff

      Turnkey restaurant opportunity near Maple Bluff Country Club.
      1025 N Sherman Avenue, Madison, WI 53704
      View Details
    • $1,600,000

      Historic Office Building in Madison

      Charming office building in downtown Madison near Lake Mendota.
      401 Wisconsin Avenue, Madison, WI 53703
      View Details
    • $7,500,000

      Class A Mixed-Use Building

      Versatile mixed-use building suitable for various business operations.
      2801 Marshall Court, Madison, WI 53705
      View Details
    • $550,000

      Madison Multifamily Investment Opportunity

      Four-unit apartment building with immediate upside potential in Madison, WI.
      5710 Russett Road, Madison, WI 53711
      View Details
    • $1,179,900

      Mixed-Use Building Near Park Street

      Two-story mixed-use property near Madison's Park Street corridor.
      702 W Wingra Drive, Madison, WI 53715
      View Details
    • $1,200,000
      5,880 SF

      6626 Watts Rd, Madison, WI

      West Madison location with flexible HC zoning and redevelopment potential.
      6626 Watts Rd, Madison, WI 53719
      View Details
    • $550,000

      Madison Duplex with Wooded Backdrop

      West side duplex with owner occupancy options and wooded backdrop.
      3014-3016 Todd Drive, Madison, WI 53713
      View Details
    • $590,000

      Madison Duplex Near Lakefront Park

      Two-unit townhouse near Lakefront Park, ideal for investment.
      718-720 S Dickinson Street, Madison, WI 53703
      View Details
    • $700,000

      Madison Apartment Building For Sale

      Excellent rental property with strong financial and lease history.
      736 E Johnson Street, Madison, WI 53703
      View Details

    FAQs

    What type of property is this?
    Automotive property - Prime commercial property ideal for automotive business near I-90.
    Where is this automotive property located?
    The property is located at 2501 East Springs Drive Madison, WI.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Prime commercial location: Half a mile from I‑90 and Hwy 151.; Ideal for automotive business: Includes a **2,923‑square‑foot automotive shop with three hydraulic hoists**, radiant heat, and floor drains.; Modern 5,221 sq ft building built in 2014.
    (608) 347-5525
    We can help!
    Listing Contact
    Katie Lichtie
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!