Remodeled Restaurant
For Sale
$1,590,000
Pending
6309 Monona, Monona, WI 53716
Two parcels were connected into one site and remodeled in 2004 for an Edo Japanese restaurant operation.
Property Size5,850 SF
Days on Market1374
Property Features for 6309 Monona
General Information
Standard status
Pending
Size
5,850 SF
Property subtype
Commercial
Site & Location
Neighborhood
Tonyawatha
Building Details
Year Built
1963
Listing Agency:
Tri-River Realty
Listed By:
Sue Jiang
(608) 347-8302
Source:
Viewhomesinwisconsin
Added: Jan 19, 2023
Changed: Oct 1
Last Checked: Oct 23 at 7:32AM
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 Tri-River Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This listing includes two parcels at 6309 and 6313 Monona Dr, which were connected into one site following thorough remodeling and construction completed in 2004. The property has been operating as a successful Edo Japanese restaurant at this location since that time.
Parcel 6313 Monona Dr (Parcel# 0710-204-6201-4) is included in the purchase price.
The offering is structured around the combined restaurant use on the merged lots, with the 2004 work designed to support a single, unified premises for the ongoing operation.
Parcel 6313 Monona Dr (Parcel# 0710-204-6201-4) is included in the purchase price.
The offering is structured around the combined restaurant use on the merged lots, with the 2004 work designed to support a single, unified premises for the ongoing operation.
Key Highlights
- Two parcels included: 6309 and 6313 Monona Dr
- Thorough remodeling and construction in 2004 connected the two lots into one site for a single restaurant operation
- Edo Japanese restaurant has operated at the location since the 2004 remodel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,710
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,494,200
$1.5M
Cap Rate 7%
$1,067,286
$1.1M
Cap Rate 9%
$830,111
$830.1K
Market Conditions
NOI Build-Up for 5,850 SF
Gross rent
$105.3K $18.00/SF
− Vacancy
−$5.7K −$0.97/SF
EGI
$99.6K $17.03/SF
− OpEx
−$24.9K −$4.26/SF
NOI
$74.7K $12.77/SF
Area
Dane County, WI
Vacancy
5.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,494,200
Cap Rate 7%
$1,067,286
Cap Rate 9%
$830,111
Alternative Uses
Best Use
Specialty Retail
$1.07M
$933.9K – $1.25M
NOI $74,710 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,159 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
567
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53716, WI
19,105
Population
8,668
Households
2.2
Avg Household Size
43
Median Age
51%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
3,033
Density / Sq Mi
$89,225
Median Household Income
$52,338
Median Earnings
$1,264
Median Rent
$325,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Two parcels were connected into one site and remodeled in 2004 for an Edo Japanese restaurant operation.
Where is this conventional restaurant located?
The property is located at 6309 Monona Monona, WI.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: Two parcels included: 6309 and 6313 Monona Dr; Thorough remodeling and construction in 2004 connected the two lots into one site for a single restaurant operation; Edo Japanese restaurant has operated at the location since the 2004 remodel
