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    Two-Story Office Building with Parking Title is generated by Realmo AI

    551 W Main St, Madison, WI

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    Two adjacent parcels with office building and parking lot.

    Type:OFFICE
    Property size:
    10,512 SF
    Lot size:
    0.35 Acres
    Price / SF:
    $332/SF
    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

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    Listing Contact
    Judy Bennett

    Listing agent Judy Bennett

    Listing office Delta Properties

    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

    Located at the corner of W. Main and S. Bedford Streets, this property features two adjacent parcels available for sale. Situated just two blocks from the Kohl Center and five blocks from the Capitol Square, the property includes a renovated two-story office building and a 32-stall surface parking lot. The office building, located at 551 W. Main, offers two full-floor suites and is currently occupied by a single tenant. The gross building size is 10,512 square feet, with 3,504 square feet per level, including the basement. The lot size for the office building is 6,225 square feet (47.16' x 132'), with an acreage of 0.14. The zoning is UMX. The parking lot, located at 545 W. Main, features 32 stalls. The lot size is 9,021 square feet (68.34' x 132'), with an acreage of 0.21. The zoning is DR-2. This property is suitable for owner-occupants, investors, or future redevelopment.

    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
    10,512 SF · lease $26.40/SF/yr · vacancy 14.80% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $2.53M
    $2.22M – $2.96M (±1% cap)
    NOI $177,333 @ 7.0% cap · market cap 5.07%
    Second Best
    Retail
    $2.15M
    $1.88M – $2.51M (±1% cap)
    NOI $150,359 @ 7.0% cap · market cap 4.30%
    Theoretical Best
    Office A
    $3.07M
    $2.69M – $3.58M (±1% cap)
    NOI $214,949 @ 7.0% cap · market cap 6.14%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    HealthX Ventures Venture Capital Company Powered Green - Renewable ... Electronics & Wireless Store ImageMoverMD Corporate Office NVNG Investment Advisors, ... Venture Capital Company Slot Check (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Spa & Massage Center Restaurant Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.3909
    Latitude
    43.0679

    FAQs

    What type of property is this?
    Office building - Two adjacent parcels with office building and parking lot.
    Where is this office building located?
    The property is located at 551 W Main St Madison, WI.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: 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.
    (608) 251-3337 Call to check price and availability
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