551 W Main St, Madison, WI
Two adjacent parcels with office building and parking lot.
- Added:
- Jul 16, 2025
- Days on Market:
- 330
- Last Refresh:
- May 19 at 10:38 pm
Property Features for 551 W Main St
General Information
- Standard status
- Active
- Size
- 10,512 SF
- Lot size
- 0.35 Acres
- Property subtype
- OFFICE
Listing agent Judy Bennett (608) 251-3337
Listing office Delta Properties (608) 251-3337
Listing date Jul 16, 2025
Source Moodyscre
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 Delta Properties
HighLights
- Prime Location: Corner lot on W. Main and S. Bedford, near Kohl Center and Capitol Square.
- Two Parcels Included: Features both an office building and a 32‑stall parking lot.
- Income Potential: Renovated two‑story office building with a current tenant.
- Redevelopment Opportunity: Ideal for future redevelopment due to location and zoning.
- Ample Parking: Includes a 32‑stall surface parking lot.
- Sizeable Office Building: 10,512 sqft two‑story office building with two full‑floor suites.
Overview
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $277.5k | $26.40 |
| − Vacancy | −$41.1k | −$3.91 |
| EGI | $236.4k | $22.49 |
| − OpEx | −$59.1k | −$5.62 |
| NOI | $177.3k | $16.87 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Madison
- County
- Dane
- State
- Wisconsin
- Longitude
- -89.3909
- Latitude
- 43.0679