2501 East Springs Drive, Madison, WI 53704

Building Details

Year built 2014 More

Buildings 1 More

Listing Agency: NextHome Metro

Listed By: Katie Lichtie · License #6011890 Show Phone

Added: Oct 26 Changed: Nov 4 Last Checked: Nov 8 at 4:06AM

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MLS# 1984083

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Investment Insights

Based on property information with market context.

Built in 2014, the property has a 5,221-square-foot building divided between a 2,298-square-foot sales office and a 2,923-square-foot automotive shop. The office includes two private offices, a reception area, and three bathrooms. The shop has five 10-by-10-foot overhead doors, three hydraulic hoists, radiant heat, floor drains, and a mezzanine for storage. Washer and dryer hookups and 200 Amp power are also present.

At 2501 East Springs Drive in Madison, the site is approximately half a mile from I-90 and Hwy 151. The property is offered for sale.

Key Highlights

• 5,221‑square‑foot building with sales office and automotive shop
• 2,298‑square‑foot office includes two private offices, reception area, and three bathrooms
• 2,923‑square‑foot shop has five 10' x 10' overhead doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$74,679

Cap Rate

3.74%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,493,580 $1.5M

Cap Rate 7%

$1,066,843 $1.1M

Cap Rate 9%

$829,767 $829.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,221 SF

Gross rent

$112.8K $21.60/SF

− Vacancy

−$6.1K −$1.17/SF

EGI

$106.7K $20.43/SF

− OpEx

−$32.0K −$6.13/SF

NOI

$74.7K $14.30/SF

Area

Madison, WI

Vacancy

5.40%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,493,580

Cap Rate 7%

$1,066,843

Cap Rate 9%

$829,767

Alternative Uses

Best Use

Retail

$1.07M

$933.5K – $1.24M (±1% cap)

NOI $74,679 @ 7.0% cap · market cap 3.74%

Second Best

Industrial

$393.8K

$344.6K – $459.4K (±1% cap)

NOI $27,566 @ 7.0% cap · market cap 1.38%

Theoretical Best

Office A

$1.53M

$1.33M – $1.78M (±1% cap)

NOI $106,759 @ 7.0% cap · market cap 5.35%

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

Goben Cars Car Dealership

Suggested Use

Top Pick Building Supply Storage Facility HVAC Service Kitchen & Bath Showroom Real Estate Agency Parking Lot & Garage

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

Lease Details

3

Service bays

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

989

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 53704, WI

47,066

Population

22,740

Households

2.1

Avg Household Size

38

Median Age

49%

College-Educated

96%

High-School Grad

21.9 sq mi

ZIP Area

2,149

Density / Sq Mi

$75,007

Median Household Income

$47,665

Median Earnings

$1,231

Median Rent

$289,000

Median Home Value

Market

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?

Auto shop - The facility combines customer-facing office space with a service shop equipped for automotive work.

Where is this auto shop located?

The property is located at 2501 East Springs Drive Madison, WI.

What is the asking price?

The asking price for this property is $1,995,000.

What are key features of this property?

This property features: 5,221‑square‑foot building with sales office and automotive shop; 2,298‑square‑foot office includes two private offices, reception area, and three bathrooms; 2,923‑square‑foot shop has five 10' x 10' overhead doors