Grocery-Anchored Shopping
For Sale
$2,400,000
1507 Madison Avenue, Fort Atkinson, WI 53538
The tenant mix spans grocery, food service, personal care, wireless, and discount retail.
Property Size15,500 SF
Price / SF$154.84
Days on Market305
Property Features for 1507 Madison Avenue
General Information
Standard status
Active
Size
15,500 SF
Property subtype
Commercial
Zoning
commercial
Site & Location
Anchor Co-Tenants
Pick n Save, Family Dollar, Papa Murphy's, Great Clips, China Dragon, Atkinson Nails, Verizon
Highway Access
Yes
Additional Details
Cap Rate
8%
Tenant in Place
Yes
Building Details
Building Size
15,500 SF
Year Built
2005
Units
6
Tenancy
Multi
Listing Agency:
Wisco Real Estate Sales
(608) 284-8644
Listed By:
Tony Hudzinski · License #5961390
(608) 393-4468
Source:
Geigerrealtors
Added: Dec 23, 2025
Changed: Oct 24
Last Checked: Oct 23 at 5:02PM
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 Wisco Real Estate Sales
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Investment Insights
Based on property information with market context.
Built in 2005, this 15,500-square-foot shopping center has Pick ’n Save as its grocery anchor. Other occupants include Family Dollar, Papa Murphy’s, Great Clips, China Dragon, Atkinson Nails, and Verizon, bringing together discount retail, dining, personal care, and wireless services under one roof.
Culver’s, Kwik Trip, and Arby’s are among the nearby regional and national brands. The property is approximately 1/4 mile from the Hwy 26 on/off ramp serving Hwy 12. The offering is presented at an 8% cap rate.
Culver’s, Kwik Trip, and Arby’s are among the nearby regional and national brands. The property is approximately 1/4 mile from the Hwy 26 on/off ramp serving Hwy 12. The offering is presented at an 8% cap rate.
Key Highlights
- 15,500‑square‑foot shopping center built in 2005
- Pick ’n Save serves as the grocery anchor
- Co‑tenants include Family Dollar, Papa Murphy’s, Great Clips, China Dragon, Atkinson Nails, and Verizon
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$149,678
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,993,560
$3.0M
Cap Rate 7%
$2,138,257
$2.1M
Cap Rate 9%
$1,663,089
$1.7M
Market Conditions
NOI Build-Up for 15,500 SF
Gross rent
$223.2K $14.40/SF
− Vacancy
−$9.4K −$0.60/SF
EGI
$213.8K $13.80/SF
− OpEx
−$64.1K −$4.14/SF
NOI
$149.7K $9.66/SF
Area
Jefferson County, WI
Vacancy
4.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,993,560
Cap Rate 7%
$2,138,257
Cap Rate 9%
$1,663,089
Alternative Uses
Best Use
Retail
$2.14M
$1.87M – $2.49M
NOI $149,678 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.64M
$3.18M – $4.24M
NOI $254,671 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
127k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Shops & Services 32%
Groceries 16%
Apparel 5%
Kwik Trip
Shops & Services
29,425 visits/mo
0.2 miles
Pick 'n Save
Groceries
20,575 visits/mo
0.1 miles
Culver's
Dining
17,816 visits/mo
0.1 miles
Taco Bell
Dining
8,408 visits/mo
0.2 miles
Dunkin' Donuts
Dining
7,190 visits/mo
0.3 miles
Demographics for 53538, WI
18,643
Population
8,444
Households
2.2
Avg Household Size
43
Median Age
26%
College-Educated
92%
High-School Grad
97.1 sq mi
ZIP Area
192
Density / Sq Mi
$80,784
Median Household Income
$44,995
Median Earnings
$967
Median Rent
$228,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Coinstar Kiosk | Bitcoin ATM — Roundy's Inc., 1505 Madison Ave, 1505 Madison Ave, Fort Atkinson, WI 53538
Frequently Asked Questions
What type of property is this?
Shopping center - The tenant mix spans grocery, food service, personal care, wireless, and discount retail.
Where is this shopping center located?
The property is located at 1507 Madison Avenue Fort Atkinson, WI.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 15,500‑square‑foot shopping center built in 2005; Pick ’n Save serves as the grocery anchor; Co‑tenants include Family Dollar, Papa Murphy’s, Great Clips, China Dragon, Atkinson Nails, and Verizon
