Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    216 S Pinckney St Madison, WI 53703

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    3,451 SF space near Capitol Square with high ceilings.

    Type:Retail, Office, Restaurant
    Property size:
    3,451 SF
    Added:
    Jul 25, 2023
    Days on Market:
    997
    Last Refresh:
    Mar 17 at 1:19 pm

    Property Features for 216 S Pinckney St

    General Information

    Standard status
    Active
    Size
    3,451 SF
    Property subtype
    Retail, Office, Restaurant

    Spaces For Lease

    at 216 S Pinckney St Contact us

    Available Space $25 /Mo

    Size
    3,451 SF
    Type
    Retail, Office, Restaurant
    $6.5/SF NNN
    Contact us

    We can help!

    Listing Contact
    Jeff Jansen
    Jeff Jansen

    Listing agent Jeff Jansen License #WI 90-47025

    Listing office Altus Commercial Real Estate

    Listing date Jul 25, 2023

    Source Crexi

    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 Altus Commercial Real Estate

    Overview

    Retail/Office Space Near Capitol Square

    This 3,451 square foot commercial space features ceiling heights between 15 and 18 feet. The property is located one block from the Capitol Square and offers convenient access to underground public parking. A loading dock is available. The space is suitable for a variety of uses, including a restaurant, professional office, or medium format grocery/pharmacy.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    NoVo Apartments Apartment Building Torq Labs Corporate Office

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Law Firm Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.3808909
    Latitude
    43.07348

    Nearby Similar for Lease

    • $110,925/mo

      Versatile Commercial Space in Madison

      Expansive mixed-use property with office, retail, and warehouse potential.
      1342 Dewey Court, Madison, WI 53703
      View Details
    • Contact for pricing

      Functional Lower-Level Office Space

      Inexpensive office space near campus on Regent Street.
      1050 Regent Street, Madison, WI 53715
      View Details
    • $169,900/mo

      Turn Key Restaurant Opportunity

      Operating restaurant for rent in the heart of Madison.
      605 E Washington Ave, Madison, WI 53703
      View Details
    • Contact for pricing

      Versatile Retail, Office, Warehouse Space

      Affordable space with parking near East Washington Street in Madison.
      2645 Milwaukee Street, Madison, WI 53704
      View Details
    • $117,000/mo

      Versatile Commercial Space in Madison

      Flexible commercial space in a desirable east-side Madison corridor.
      195-209 Cottage Grove, Madison, WI 53716
      View Details
    • Contact for pricing

      Office Space with Natural Light

      Office space featuring natural light, private bathroom, and kitchenette.
      715 Post Road, Madison, WI 53713
      View Details
    • $29/mo

      The Saddlery

      Unique retail, restaurant, or office space in downtown Madison.
      329-331 E Wilson St, Madison, WI 53703
      View Details
    • $14/mo

      University Place Office Space Available

      Office spaces for rent in University Place, Madison.
      5005 University, Madison, WI 53705
      View Details
    • $25/mo

      Retail/Office Space Near Capitol Square

      3,451 SF retail or office space with exceptional exposure.
      210-216 S Pinckney St, Madison, WI 53704
      View Details
    • $14/mo

      Professional Office Building Near Mall

      Office suites available in a well-maintained building on Odana Road.
      6314 Odana Rd, Madison, WI 53566
      View Details
    • $16/mo

      Finished Office Space For Rent

      Nicely finished office space with private offices and amenities.
      4706 Cottage Grove Road, Madison, WI 53716
      View Details
    • $23/mo

      Odana Road Office Space Available

      Nicely finished office spaces with building signage on Odana Road.
      6514 Odana Rd , Madison, WI 53719
      View Details

    FAQs

    What type of property is this?
    Retail space - 3,451 SF space near Capitol Square with high ceilings.
    Where is this retail space located?
    The property is located at 216 S Pinckney St Madison, WI.
    What are key features of this property?
    This property features: 3,451sf space ideal for restaurant, office, grocery/pharmacy, etc.; Located one block from the Capitol Square.; Features **15’-18’ ceilings.**
    (608) 338-0055 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jeff Jansen
    Jeff Jansen
    Real Estate License ID: WI 90-47025
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!