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    226 Ohio Ave Madison, WI 53704

    Sponsored
    For Sale
    $1,500,000

    Prime Madison location, high visibility, strong NOI.

    Property size:
    4,918 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional multifamily investment property, located at 226 Ohio Ave in Madison, Wisconsin, presents a compelling opportunity. The 4,918 square foot building, constructed in 1910, sits on a 0.07-acre lot (APN 0710-064-3707-6) and boasts a desirable corner location at Ohio Ave & Atwood Ave, ensuring excellent visibility. Currently, the property features two street-level retail tenants: a salon and a clothing store, along with the Ohio Tavern occupying the lower level. The tavern lease has two years remaining, but the owner is open to early termination. Note that the bar's business and fixtures are not included in the sale. The lower level also includes storage, a kitchen area with a grease trap and walk-in cooler (no hood system). The building offers a large back deck and ample outdoor patio seating along Ohio Ave. The property has a 3.00% cap rate and a net operating income (NOI) of $44,953.08. The asking price is $1,500,000. The 2024 assessed value is $691,000.00, and 2023 property taxes totaled $12,140.91. The permitted zoning is TSS, and the building benefits from 3-phase electric service. Further details regarding lease terms and potential upside are available upon request. This is a rare chance to acquire a well-located, income-producing property in a thriving Madison neighborhood.

    Property Features for 226 Ohio Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    4,918 SF
    Lot Size
    3,049 SF

    Building Details

    Year Built
    1910

    HighLights

    • Corner lot at Ohio Ave & Atwood Ave.
    • High visibility location.
    • Ohio Tavern lease (2 years remaining, tenant willing to vacate early; FF&E not included).
    • Lower level: tavern storage, kitchen (no hood), grease trap, walk‑in cooler.
    • Large rear deck & ample outdoor patio seating.
    • Two Atwood Ave retail tenants: salon & clothing store.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.347345
    Latitude
    43.093884

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    FAQs

    What type of property is this?
    Multifamily property - Prime Madison location, high visibility, strong NOI.
    Where is this multifamily property located?
    The property is located at 226 Ohio Ave Madison, WI.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Corner lot at Ohio Ave & Atwood Ave.; High visibility location.; Ohio Tavern lease (2 years remaining, tenant willing to vacate early; FF&E not included).
    Request Owner's contact information
    226 Ohio Ave Madison, WI 53704
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    Madison, WI 53704
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    226 Ohio Ave Madison, WI 53704
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