Current Use by Public Records
- Castle Condominiums / Condominium Complex
Property Details for 2320 Jackson St
- Year built
- 2003
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional 10,500 square foot commercial property at 2320 Jackson Street, Stoughton, WI 53589, presents a unique investment opportunity. Comprising seven individual condos combined into a single unit, this property offers significant flexibility for various business uses, including restaurant, executive office, or flex space. Located at a signalized intersection of Highway 51 and Jackson Street, it benefits from high visibility and convenient access to Stoughton's vibrant commercial district. The property's prime location offers easy connectivity to I-90/I-94, downtown Madison, Sun Prairie, and other Dane County areas. Nearby amenities include hotels, restaurants, shopping centers, and schools. Built in 2003, this single-story building features 8-foot ceilings, 30 parking spaces, and is zoned G2 and CO. The asking price is $995,000, representing a price per square foot of $94.76 and a price per unit of $142,142.86. Currently vacant, the property offers a pro-forma NOI of $120,000 and a pro-forma cap rate of 12.06%. The property's APN numbers are 0511-063-2823-2, 0511-063-2825-2, 0511-063-2827-2, 0511-063-2829-2, 0511-063-2831-2, 0511-063-2833-2, and 0511-063-2835-2. The lease type is NNN, with a potential lease term of two years commencing February 29, 2024, and expiring February 27, 2026. This presents a compelling value-add investment opportunity with strong potential for rental income generation. The property is currently 14.2% occupied, with an occupancy date of July 31, 2024.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Stoughton
- County
- Dane
- State
- Wisconsin
- Longitude
- -89.2491
- Latitude
- 42.922
