2229 Deming Way, Middleton, WI 53562

Building Details

Year Built 2000 More

Listing Agency: CBRE - Milwaukee

Listed By: Nathan Powers · License WI 834409-91 Show Phone

Source: Crexi

Added: Jul 29 Changed: Oct 26 Last Checked: Nov 10 at 8:19AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

The property is an 8,500-square-foot conventional restaurant building constructed in 2000. It is associated with an Applebee’s-IHOP dual-brand conversion, with the planned concept combining breakfast, lunch, dinner, beverages, and desserts within one restaurant operation.

Located at 2229 Deming Way in Middleton, Wisconsin, the asset is offered through a sale-leaseback structure with a 20-year term and absolute-net lease provisions. The property is one of four assets available individually or as part of a portfolio.

Key Highlights

• 8,500‑square‑foot conventional restaurant building
• Constructed in 2000
• Applebee’s‑IHOP dual‑brand conversion planned

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$108,554

Cap Rate

3.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,171,080 $2.2M

Cap Rate 7%

$1,550,771 $1.6M

Cap Rate 9%

$1,206,156 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,500 SF

Gross rent

$153.0K $18.00/SF

− Vacancy

−$8.3K −$0.97/SF

EGI

$144.7K $17.03/SF

− OpEx

−$36.2K −$4.26/SF

NOI

$108.6K $12.77/SF

Area

Dane County, WI

Vacancy

5.40%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,171,080

Cap Rate 7%

$1,550,771

Cap Rate 9%

$1,206,156

Alternative Uses

Best Use

Specialty Retail

$1.55M

$1.36M – $1.81M (±1% cap)

NOI $108,554 @ 7.0% cap · market cap 3.53%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.98M

$1.73M – $2.30M (±1% cap)

NOI $138,265 @ 7.0% cap · market cap 4.49%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick HVAC Service (Bike/Boat/Book/etc) Store Grocery & Convenience Store Auto Parts Store Barber Shop Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,089

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 53562, WI

29,092

Population

13,617

Households

2.1

Avg Household Size

40

Median Age

65%

College-Educated

96%

High-School Grad

31.1 sq mi

ZIP Area

935

Density / Sq Mi

$97,241

Median Household Income

$60,688

Median Earnings

$1,394

Median Rent

$495,600

Median Home Value

Market

Average Price Trend$/SF for Conventional restaurants in Dane County, WI

$175 Jul

$187 Aug

$203 Sep

$203 Oct

Properties on Market for Conventional restaurants in Dane County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Sale-leaseback offering with a 20-year absolute-net lease structure.

Where is this conventional restaurant located?

The property is located at 2229 Deming Way Middleton, WI.

What is the asking price?

The asking price for this property is $3,076,923.

What are key features of this property?

This property features: 8,500‑square‑foot conventional restaurant building; Constructed in 2000; Applebee’s‑IHOP dual‑brand conversion planned