Versatile Commercial Land
2501 E Springs Dr Madison, WI 53704
2501 E Springs Dr, Madison, WI, 53704
Contact for pricing
For Sale
Contact for pricing
3.26-acre property with diverse development potential in Madison, WI.
Property Size5,221 SF
Lot Size3.26 Acres
Price / SF$478.84
Days on Market699
Property Features for 2501 E Springs Dr
General Information
- Standard status
- Active
- Size
- 5,221 SF
- Lot size
- 3.26 Acres
- Property subtype
- Retail, Hospitality, Special Purpose
Building Details
- Year Built
- 2014
Listing Agency
NextHome Metro
(608) 347-5525
Listed by
Katie Lichtie · License #60118-90
Source
Crexi
Added: Aug 20, 2024 Checked: Jul 17 at 6:06 am
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 NextHome Metro
Investment Insights
Based on property information with market context.
This unique 3.26-acre property is located in a Commercial Corridor -- Transitional (CCT) zone, offering potential for various uses. Formerly an automotive center, the site presents innovative development opportunities to suit diverse community needs. The CCT zoning allows for a variety of development possibilities, including residential development with multi-unit housing (5--36+ units), townhomes, single-family homes, or mixed-use buildings with 60+ units. It is also suitable for medical facilities such as outpatient centers, clinics, or wellness facilities, as well as retail sales and services, ranging from boutique shops to essential services. The property is ideal for businesses needing secure, accessible storage and display, transportation, civic institutions, and live-work units. The property's size, existing infrastructure, and flexible zoning make it a foundation for a vibrant development. This property is ideal for launching or expanding an automotive business. Located just half a mile from I-90 and Highway 151, this commercial property is ready for a new chapter.
Key Highlights
- Prime Commercial Corridor with Transitional (CCT) zoning, allowing diverse development options.
- Large 3.26‑acre property offers ample space for significant development.
- Excellent location: half a mile from I‑90 and Highway 151.
Local Financial Insights For Retail
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 | $112.8k | $21.60 |
| − Vacancy | −$6.1k | −$1.17 |
| EGI | $106.7k | $20.43 |
| − OpEx | −$32.0k | −$6.13 |
| NOI | $74.7k | $14.30 |
5,221 SF · lease $21.60/SF/yr · vacancy 5.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.07M
$933.5K – $1.24M
NOI $74,679 @ 7.0% cap · market cap 2.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.33M – $1.78M
NOI $106,759 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Goben Cars
Car Dealership
Similar For Sale Nearby
FAQs
What type of property is this?
Commercial land - 3.26-acre property with diverse development potential in Madison, WI.
Where is this commercial land located?
The property is located at 2501 E Springs Dr Madison, WI.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Prime Commercial Corridor with Transitional (CCT) zoning, allowing diverse development options.; Large 3.26‑acre property offers ample space for significant development.; Excellent location: half a mile from I‑90 and Highway 151.
