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    212 Gorham St Madison, WI 53703

    Sponsored
    For Sale
    $1,500,000

    Mixed-use investment; prime downtown location.

    Property size:
    5,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property, located at 212 W Gorham St in Madison, WI, presents a compelling investment opportunity. The historic King House, a four-story building (5,400 square feet) on a 3,168 square foot lot, boasts a blend of commercial and residential space. The first floor comprises commercial space, currently leased until 2029 with extension options. The upper floors feature three residential units: a three-bedroom apartment on the second floor and an eight-bedroom apartment spanning the third and fourth floors. Built in 1886 and extensively renovated in 2002, 2019, 2022, and 2023, the property showcases original woodwork alongside modern amenities. Recent capital improvements include new mechanical systems (2002, 2019, 2022), windows (2020), roof and gutters (2023), and a commercial-grade sprinkler system (2002). Each unit features separate meters for water, gas, electricity, and HVAC. The property is zoned PUD and currently enjoys 100% occupancy, generating a pro-forma NOI of $149,700, representing a 7% cap rate on the $1,500,000 asking price. This stabilized, value-add investment is situated just one block from State Street in the heart of downtown Madison, offering significant potential for future appreciation. The property's unique blend of history, modern updates, and prime location makes it an attractive investment prospect.

    Property Features for 212 Gorham St

    General Information

    Property type
    Multifamily properties
    Square Feet
    5,400 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1886/2002
    Buildings
    1
    Stories
    4
    Units
    3

    HighLights

    • $1,500,000 asking price for a stabilized mixed‑use property.
    • 7% cap rate, $149,700 pro‑forma NOI.
    • 5,400 square feet, 3 units (1 commercial, 2 residential).
    • Historic King House, located at 212 W Gorham St, Madison, WI 53703.
    • Four‑story building on a 3,168 sq ft lot, PUD zoning.
    • Recently renovated (2002, 2019, 2022, 2023), with recent roof and mechanical upgrades.
    Property Profile Location Intelligence

    Current Use by Public Records

    Gazelle Dance Company The Brow Boutique Beauty Salon

    Suggested Use

    Realty agency Restaurant 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
    -89.3914576
    Latitude
    43.0753457

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    FAQs

    What type of property is this?
    Multifamily property - Mixed-use investment; prime downtown location.
    Where is this multifamily property located?
    The property is located at 212 Gorham St 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: $1,500,000 asking price for a stabilized mixed-use property.; 7% cap rate, $149,700 pro-forma NOI.; 5,400 square feet, 3 units (1 commercial, 2 residential).
    Request Owner's contact information
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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
    212 Gorham St Madison, WI 53703
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