2 Mills St Madison, WI 53715
- Retail properties
- 7,264 SF
- 0.24 lot acres
Current Use by Public Records
- Hong Kong Cafe / Restaurant / Cafe
Property Details for 2 Mills St
- Year built
- 1923
- Lot size
- 0.24 lot acres
- Property size
- 7,264 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional mixed-use building, totaling 7,264 square feet, presents a unique investment opportunity in Madison, Wisconsin. Situated on a 0.244-acre lot at the corner of Regent Street and South Mills Street, between downtown Madison and the University of Wisconsin campus, this property offers a blend of commercial and residential income streams. The ground floor features a 2,464-square-foot restaurant space complete with a full commercial kitchen (including a 20-foot hood), a front bar with a beer tap system, a dining area, walk-in coolers, and a liquor license allowing for an 880-person outdoor beer garden during UW football games. Eleven on-site parking spaces and a detached three-car garage provide ample parking. The second floor comprises two residential apartments: a two-bedroom, one-bathroom unit and a three-bedroom, one-bathroom unit. Currently owner-occupied, this offers flexibility for future tenants. Built in 1923, the two-story building sits on a lot zoned TSS, presenting redevelopment potential. The property's prime location and existing infrastructure make it ideal for continued operation as a mixed-use property or for redevelopment into an eight-story hotel or a larger student housing complex (subject to city approvals). The net rentable square footage is 4,864 square feet, spread across one building with three units.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Madison
- County
- Dane
- State
- Wisconsin
- Longitude
- -89.4043
- Latitude
- 43.0677
