Highly Visible Two-Level Retail
For Sale
$1,295,000
421 S Park St, Madison, WI 53715
Two-level building with updated exterior, flexible layout, and prominent signage with dedicated on-site parking.
Property Size4,905 SF
Price / SF$264.02
Days on Market97
Property Features for 421 S Park St
General Information
Standard status
Active
Size
4,905 SF
Site & Location
Neighborhood
Greenbush Neighborhood Association
Building Details
Year Built
1951
Stories
2
Listing Agency:
Key Commercial Real Estate, LLC
Listed By:
Mallory Rekoske
(608) 729-1800
Source:
Soldinmadison
Added: Jul 26
Changed: Oct 25
Last Checked: Oct 7 at 4:18PM
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 Key Commercial Real Estate, LLC
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Investment Insights
Based on property information with market context.
421 S. Park St is a highly visible two-level commercial building with a recently updated exterior. The property offers a flexible floor plan sized at 4,905 SF, designed to support a variety of retail, office, medical, or service uses. Dedicated on-site parking and prominent signage further support tenant visibility and day-to-day operations.
The building is positioned along a major gateway into Downtown Madison, with access that supports convenient trips to and from the core of the city. The property’s placement on one of the area’s busiest corridors is intended to benefit storefront and service traffic.
As presented, the configuration provides multiple levels within one building, which can support different operating layouts while keeping the overall site cohesive for customer access and building identity.
The building is positioned along a major gateway into Downtown Madison, with access that supports convenient trips to and from the core of the city. The property’s placement on one of the area’s busiest corridors is intended to benefit storefront and service traffic.
As presented, the configuration provides multiple levels within one building, which can support different operating layouts while keeping the overall site cohesive for customer access and building identity.
Key Highlights
- 4,905 SF commercial building at 421 S. Park St with prominent signage along a busy downtown gateway corridor
- Two‑level, flexible floor plan suitable for retail, office, medical, or service users
- Dedicated on‑site parking available
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,159
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,403,180
$1.4M
Cap Rate 7%
$1,002,271
$1.0M
Cap Rate 9%
$779,544
$779.5K
Market Conditions
NOI Build-Up for 4,905 SF
Gross rent
$105.9K $21.60/SF
− Vacancy
−$5.7K −$1.17/SF
EGI
$100.2K $20.43/SF
− OpEx
−$30.1K −$6.13/SF
NOI
$70.2K $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%
$1,403,180
Cap Rate 7%
$1,002,271
Cap Rate 9%
$779,544
Alternative Uses
Best Use
Retail
$1.00M
$877.0K – $1.17M
NOI $70,159 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,297 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,266
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 53715, WI
16,517
Population
5,640
Households
2.9
Avg Household Size
24
Median Age
66%
College-Educated
95%
High-School Grad
1.3 sq mi
ZIP Area
12,705
Density / Sq Mi
$37,598
Median Household Income
$8,819
Median Earnings
$1,533
Median Rent
$436,100
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
- Downtown Tropics — Madison, WI 53725
- Choles Floral — 1135 Regent St, Madison, WI 53715
- Choles Floral Company — 1135 Regent St, Madison, WI 53715
- Daffodil Parker — 544 W Washington Ave, Madison, WI 53703
Frequently Asked Questions
What type of property is this?
Storefront property - Two-level building with updated exterior, flexible layout, and prominent signage with dedicated on-site parking.
Where is this storefront property located?
The property is located at 421 S Park St Madison, WI.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 4,905 SF commercial building at 421 S. Park St with prominent signage along a busy downtown gateway corridor; Two‑level, flexible floor plan suitable for retail, office, medical, or service users; Dedicated on‑site parking available
