Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space in Union Corners Title is generated by Realmo AI

    2418-2438 Winnebago Street, Madison, WI 53704

    View on Map
    Claim this Listing
    For Lease
    $20 SF/Yr $10,000/Mo (calc)

    Retail space for rent in historical landmark with built-in customer base.

    Type:Retail
    Property size:
    6,000 SF
    Added:
    Nov 22, 2025
    Days on Market:
    190
    Last Refresh:
    May 19 at 8:52 pm

    Property Features for 2418-2438 Winnebago Street

    General Information

    Standard status
    Active
    Size
    6,000 SF
    Property subtype
    Retail

    Spaces For Lease

    at 2418-2438 Winnebago Street Contact us

    We can help!

    Listing Contact
    Devin Tessmer

    Listing agent Devin Tessmer

    Listing office CBRE, Inc.

    Listing date Nov 22, 2025

    Source Cbre

    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 CBRE, Inc.

    HighLights

    • Anchored by UW Health Clinic, providing high visibility and traffic.
    • Well‑recognized historical landmark.
    • Over 30,000 sf of first floor retail space.
    • 195 apartments on‑site, creating a built‑in customer base.
    • Additional 60 units at Generations apartment complex, further expanding customer base.
    • Prominent visibility at the corner of E. Washington Avenue and Milwaukee Street.

    Overview

    Located at the corner of E. Washington Avenue and Milwaukee Street, Union Corners is anchored by UW Health Clinic and features prominent visibility. This well-recognized historical landmark development includes over 30,000 square feet of first-floor retail space and 195 apartments. The newly completed Generations apartment complex adds an additional 60 units, providing a built-in customer base for commercial tenants. The available retail space is 6,000 square feet and is for rent at a rate of $20.
    Property Profile Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Similar Places Nearby

    • Madison East Shopping Center — E Washington Ave, Madison, WI 53704

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.3487
    Latitude
    43.0987

    Nearby Similar for Lease

    • $110,925 SF/Yr

      Versatile Commercial Space in Madison

      Expansive mixed-use property with office, retail, and warehouse potential.
      1342 Dewey Court, Madison, WI 53703
      View Details
    • $600/Mo

      Functional Lower-Level Office Space

      Inexpensive office space near campus on Regent Street.
      1050 Regent Street, Madison, WI 53715
      View Details
    • $169,900 SF/Yr
      2,300 SF

      Turn Key Restaurant Opportunity

      Operating restaurant for rent in the heart of Madison.
      605 E Washington Ave, Madison, WI 53703
      View Details
    • $117,000 SF/Yr
      6,500 SF

      Versatile Commercial Space in Madison

      Flexible commercial space in a desirable east-side Madison corridor.
      195-209 Cottage Grove, Madison, WI 53716
      View Details
    • $29 SF/Yr
      633-1,794 SF

      The Saddlery

      Unique retail, restaurant, or office space in downtown Madison.
      329-331 E Wilson St, Madison, WI 53703
      View Details
    • $1,000/Mo

      Office Space with Natural Light

      Office space featuring natural light, private bathroom, and kitchenette.
      715 Post Road, Madison, WI 53713
      View Details
    • Sponsored
      $129-$3,687/Mo
      11-1,292 SF

      WI, Madison - W. Broadway

      1574 Broadway, Unit 200, Madison, WI 53713
      View Details
    • $129-$4,146/Mo
      11-1,292 SF

      Park Bank Plaza

      2810 Crossroads Dr, Unit 4000, Madison, WI 53718
      View Details
    • Sponsored
      Contact for pricing

      WI, Madison - Eastpark Blvd

      4901 Eastpark Blvd, Unit 200, Madison, WI 53718
      View Details
    • $14 SF/Yr
      3,900 SF

      University Place Office Space Available

      Office spaces for rent in University Place, Madison.
      5005 University, Madison, WI 53705
      View Details
    • $13 SF/Yr
      4,728 SF

      Madison Flex Space For Lease

      4,728 SF flex space available for lease in Madison.
      1802-1828 Wright St, Madison, WI 53704
      View Details
    • $25 SF/Yr
      3,451 SF

      Retail/Office Space Near Capitol Square

      3,451 SF retail or office space with exceptional exposure.
      210-216 S Pinckney St, Madison, WI 53704
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space for rent in historical landmark with built-in customer base.
    Where is this shopping center located?
    The property is located at 2418-2438 Winnebago Street Madison, WI.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: Anchored by UW Health Clinic, providing high visibility and traffic.; Well‑recognized historical landmark.; Over 30,000 sf of first floor retail space.
    (414) 274-1644
    We can help!
    Listing Contact
    Devin Tessmer
    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

    Thank You for Inquiry
    2418-2438 Winnebago Street, Madison, WI, 53704
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!