Building Details

Year built 1948

Number of units 3

Roof type Flat

Listing Agency: Keller Williams Realty d***@kw.com Show Phone

Listed By: Bonita Nunez · License #5191794 Show Phone

Added: Aug 31 Changed: Oct 15 Last Checked: Oct 17 at 5:06PM

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MLS# 2016471

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.

This 3,285-square-foot, two-story mixed-use property contains commercial space on the ground floor and two apartments above: one with one bedroom and another with three. The commercial area previously operated as a pet clinic. Built in 1948, the property sits on a 0.29-acre corner lot and is zoned CC-T. The sale is on an as-is basis.

At 702 W Wingra Drive, the property is near the Park Street corridor, with access to the Beltline, Madison College, UW, hospitals, a library, shops, and bike and walking paths.

Key Highlights

• 3,285‑square‑foot, two‑story mixed‑use property
• Ground‑floor commercial space and two upstairs apartments: one 1‑bedroom and one 3‑bedroom
• 0.29‑acre corner lot, zoned CC‑T

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$45,333

Cap Rate

3.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$906,660 $906.7K

Cap Rate 7%

$647,614 $647.6K

Cap Rate 9%

$503,700 $503.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,285 SF

Gross rent

$78.8K $24.00/SF

− Vacancy

−$6.3K −$1.92/SF

EGI

$72.5K $22.08/SF

− OpEx

−$27.2K −$8.28/SF

NOI

$45.3K $13.80/SF

Area

Madison, WI

Vacancy

8.00%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$906,660

Cap Rate 7%

$647,614

Cap Rate 9%

$503,700

Alternative Uses

Best Use

Mixed Use

$647.6K

$566.7K – $755.6K (±1% cap)

NOI $45,333 @ 7.0% cap · market cap 3.84%

Second Best

Apartment 5plus

$575.6K

$503.7K – $671.6K (±1% cap)

NOI $40,295 @ 7.0% cap · market cap 3.42%

Theoretical Best

Office A

$959.6K

$839.7K – $1.12M (±1% cap)

NOI $67,172 @ 7.0% cap · market cap 5.69%

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

Property Analytics

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Current Use

Mixed-use properties

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Big Box & Wholesale Store Building Supply HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,209

Businesses Nearby

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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Frequently Asked Questions

What type of property is this?

Mixed-use property - Two upstairs apartments complement the street-level business premises in this two-story property.

Where is this mixed-use property located?

The property is located at 702 W Wingra Drive Madison, WI.

What is the asking price?

The asking price for this property is $1,179,900.

What are key features of this property?

This property features: 3,285‑square‑foot, two‑story mixed‑use property; Ground‑floor commercial space and two upstairs apartments: one 1‑bedroom and one 3‑bedroom; 0.29‑acre corner lot, zoned CC‑T