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    316 Washington Ave Madison, WI 53703

    Sponsored
    For Lease
    $18 SF/Yr

    Class A Office Space, 21 Suites Available

    Lot size:
    256,858 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    407
    This exceptional Class A office building, located in the heart of downtown Madison, offers 256,858 square feet of prime commercial space. Situated just two blocks from Capitol Square, this prestigious location provides unparalleled access to a thriving business community. The building underwent a complete renovation in 2016, resulting in state-of-the-art facilities and amenities designed to meet the needs of today's professionals. Individual suites range from a minimum of 460 square feet to a maximum contiguous space of 14,529 square feet, with a total of 93,285 square feet currently vacant and available for lease. Multiple tenancy options are available. Building amenities include secure on-site parking, a fully equipped fitness center with locker rooms and showers, a convenient common conference room, secure bike parking, and a ground floor restaurant. The building's location boasts a walk score of 97, providing easy access to renowned dining establishments, vibrant cultural attractions, and excellent walkability throughout the city. This is a truly unique opportunity to secure prestigious office space in one of Madison's most desirable locations. The building's modern design and comprehensive amenities create an ideal workspace for businesses seeking both prestige and functionality.

    Property Features for 316 Washington Ave

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    256,858 SF
    Class
    A
    Total Rate
    385287

    Building Details

    Year Renovated
    2016

    Unit(s) available at that property

    Space
    Suite 725 & 825
    Size
    12,466 SF
    Rate per SF
    $26
    Space
    Suite 500
    Size
    8,213 SF
    Rate per SF
    $26
    Space
    7th Floor Suite 725
    Size
    6,756 SF
    Rate per SF
    $26
    Space
    8th Floor Suite 825
    Size
    5,710 SF
    Rate per SF
    $26
    Space
    10th Floor Suite 1000
    Size
    11,135 SF
    Rate per SF
    $26
    Space
    6th Floor Suite 625
    Size
    6,050 SF
    Rate per SF
    $26
    Space
    5th Floor Suite 575
    Size
    2,365 SF
    Rate per SF
    $26
    Space
    2nd floor- SUITE 230
    Size
    1,923 SF
    Rate per SF
    $26
    Space
    9th Floor Suite 925
    Size
    1,921 SF
    Rate per SF
    $26
    Space
    5th floor- Contiguous
    Size
    14,529 SF
    Rate per SF
    $26
    Space
    2nd floor- SUITE 200
    Size
    2,526 SF
    Rate per SF
    $26
    Space
    2nd floor- SUITE 225
    Size
    1,380 SF
    Rate per SF
    $26
    Space
    3rd Floor Suite 325
    Size
    3,670 SF
    Rate per SF
    $26
    Space
    2nd Floor
    Size
    3,997 SF
    Rate per SF
    $26
    Space
    2nd floor- SUITE 220
    Size
    460 SF
    Rate per SF
    $26
    Space
    2ND FLOOR - SUITE 255
    Size
    659 SF
    Rate per SF
    $26
    Space
    2nd floor- SUITE 245
    Size
    571 SF
    Rate per SF
    $26
    Space
    2nd floor- SUITE 235
    Size
    894 SF
    Rate per SF
    $26
    Space
    2nd floor- SUITE 265
    Size
    563 SF
    Rate per SF
    $26
    Space
    5th floor - SUITE 525
    Size
    3,951 SF
    Rate per SF
    $26
    Space
    Suite 600
    Size
    3,546 SF
    Rate per SF
    $27

    We can help!

    Listing Contact
    Jim Cavanaugh
    Jim Cavanaugh

    Learn more

    Property Insight Report

    HighLights

    • Class A, 256,858 SF office building in Dane County.
    • Multiple tenancies available, ranging from 460 SF to 14,529 SF contiguous.
    • 93,285 SF of vacant space currently available.
    • Completely renovated in 2016.
    • Prime downtown Madison location, two blocks from Capitol Square, with excellent walkability (Walk Score 97).
    Property Profile Location Intelligence

    Current Use by Public Records

    Datica Software Company Roll For Guild Software Company Trezy.com Software Company RED Sushi Restaurant Attorney J. Adam ... Attorney

    Suggested Use

    Restaurant Realty agency Spa & Massage Dental Office Hair Salon Law Firm Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.388095
    Latitude
    43.0728649

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    FAQs

    What type of property is this?
    Office Property Space - Class A Office Space, 21 Suites Available
    Where is this office property space located?
    The property is located at 316 Washington Ave Madison, WI.
    What is the lease rate?
    The lease rate is $26-$27 SF/Yr.
    What are key features of this property?
    This property features: Class A, 256,858 SF office building in Dane County.; Multiple tenancies available, ranging from 460 SF to 14,529 SF contiguous.; 93,285 SF of vacant space currently available.
    Request Owner's contact information
    316 Washington Ave Madison, WI 53703
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    Madison, WI 53703
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    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
    316 Washington Ave Madison, WI 53703
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    We can help!
    Listing Contact
    Jim Cavanaugh
    Jim Cavanaugh
    Real Estate License ID: WI
    Learn more
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