Building Details

Year built 1925

Number of units 2

Roof type Composition

Listing Agency: Restaino & Associates t***@restainohomes.com Show Phone

Listed By: James Olmsted Show Phone

Added: Sep 4 Changed: Oct 21 Last Checked: Oct 22 at 7:06PM

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MLS# 2032061

Copyright © 2026 REALTORS® Association of South Central Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

At 3514 Monroe Street in Madison, this 2,000-square-foot commercial building is currently used as a veterinary clinic. The property was built in 1925 and has a composition roof.

The site is on Monroe Street near its intersection with Glenway Street. Commercial zoning is reported for the property.

Key Highlights

• 2,000‑square‑foot building currently used as a veterinary clinic
• Built in 1925
• Commercial zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$33,739

Cap Rate

5.62%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$674,780 $674.8K

Cap Rate 7%

$481,986 $482.0K

Cap Rate 9%

$374,878 $374.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,000 SF

Gross rent

$52.8K $26.40/SF

− Vacancy

−$7.8K −$3.91/SF

EGI

$45.0K $22.49/SF

− OpEx

−$11.2K −$5.62/SF

NOI

$33.7K $16.87/SF

Area

Madison, WI

Vacancy

14.80%

Lease Rate

$26.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$674,780

Cap Rate 7%

$481,986

Cap Rate 9%

$374,878

Alternative Uses

Best Use

Office B

$482.0K

$421.7K – $562.3K (±1% cap)

NOI $33,739 @ 7.0% cap · market cap 5.62%

Second Best

Healthcare Medical

$406.1K

$355.3K – $473.8K (±1% cap)

NOI $28,426 @ 7.0% cap · market cap 4.74%

Theoretical Best

Office A

$584.2K

$511.2K – $681.6K (±1% cap)

NOI $40,896 @ 7.0% cap · market cap 6.82%

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

Property Analytics

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Open Analytics

Current Use

Medical Office Space

Suggested Use

Top Pick Law Firm Dental Office Building Supply Hair Salon HVAC Service Pharmacy

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

295

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 53711, WI

51,448

Population

23,500

Households

2.2

Avg Household Size

37

Median Age

66%

College-Educated

97%

High-School Grad

26.0 sq mi

ZIP Area

1,979

Density / Sq Mi

$101,236

Median Household Income

$55,284

Median Earnings

$1,357

Median Rent

$387,600

Median Home Value

Market

Vacancy Rate% for Office in Madison, WI

10.9% 2023

10.8% 2024

7.6% 2025

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Similar Off Market Nearby

• Lakeview Veterinary Clinic — 3518 Monroe St, Madison, WI 53711
• Bach Tom DVM — 3518 Monroe St, Madison, WI 53711
• Crass Kristi DVM — 3518 Monroe St, Madison, WI 53711
• Banks Becky DVM — 3518 Monroe St, Madison, WI 53711

Frequently Asked Questions

What type of property is this?

Medical Office Space - A commercial building currently configured for veterinary clinic use offers an established medical-office layout.

Where is this medical office space located?

The property is located at 3514 Monroe Street Madison, WI.

What is the asking price?

The asking price for this property is $599,900.

What are key features of this property?

This property features: 2,000‑square‑foot building currently used as a veterinary clinic; Built in 1925; Commercial zoning