Downtown Investment Property For
For Sale
Contact for pricing
115 E Main St, Madison, WI
Fully furnished restaurant with luxury apartment near Capital Square.
Property Size3,761 SF
Lot Size0.05 Acres
Price / SF$491.89
Days on Market780
Property Features for 115 E Main St
General Information
Standard status
Active
Size
3,761 SF
Lot size
0.05 Acres
Property subtype
RETAIL
Listing Agency:
NAI Madison
(608) 558-0663
Listed By:
Michael Barrett
Source:
Moodyscre
Added: Jun 17, 2024
Changed: Jul 6
Last Checked: Jul 21 at 6:39AM
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 NAI Madison
Investment Insights
Based on property information with market context.
This downtown investment property is located just off the Capital Square on King Street. The property includes a fully furnished restaurant with indoor seating for approximately 80 and outdoor seating for approximately 150. The upper unit features a newly constructed luxury apartment. Additionally, there is 1,470 square feet of raw space available, suitable for office, retail, or additional apartments. Each restaurant has access to both King Street and Main Street. Parking is available in a ramp directly across the street, with metered parking available in front and back of the property. A public parking lot is located one block away. The property size is 3,761 square feet.
Key Highlights
- Prime downtown location just off the Capital Square on King Street.
- Fully furnished restaurant with seating for approximately 80 indoors and 150 outdoors.
- Investment property with potential for multiple income streams.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.8k | $22.80 |
| − Vacancy | −$4.3k | −$1.14 |
| EGI | $81.5k | $21.66 |
| − OpEx | −$20.4k | −$5.42 |
| NOI | $61.1k | $16.25 |
3,761 SF · lease $22.80/SF/yr · vacancy 5.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$872.8K
$763.7K – $1.02M
NOI $61,097 @ 7.0% cap · market cap 3.30%
Second Best
Retail
$768.5K
$672.5K – $896.6K
NOI $53,796 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$1.10M
$961.3K – $1.28M
NOI $76,905 @ 7.0% cap · market cap 4.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,198
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Chez Vous Catering — 831 Williamson St #1, Madison, WI 53703
- Monona Catering LLC — 1 John Nolen Dr, Madison, WI 53703
- JustVeggiez — 540 State St, Madison, WI 53703
- MachiquesCity Venezuelan Restaurant — 638 State St, Madison, WI 53703
- Catering a Fresco — 201 State St, Madison, WI 53703
Frequently Asked Questions
What type of property is this?
Restaurant - Fully furnished restaurant with luxury apartment near Capital Square.
Where is this restaurant located?
The property is located at 115 E Main St Madison, WI.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Prime downtown location just off the Capital Square on King Street.; Fully furnished restaurant with seating for approximately 80 indoors and **150 outdoors.**; Investment property with potential for multiple income streams.
