225 Nautilus DrMadison, WI 53705

Property Details for 225 Nautilus Dr

Year built

1965

Lot size

0.62 AC

Property size (Sq ft)

3,675 SF

Zone code

SR-V1

Property type

Apartment buildings

APN

0708-244-1306-0

APU

70824413060

Description

This well-maintained 8-unit apartment building in Madison, Wisconsin, presents a compelling investment opportunity. Located at 225 Nautilus Dr, this property boasts 812 square feet and sits on a 0.62-acre lot. Built in 1965, the building features a permitted commercial zoning designation and offers eight parking spaces in a detached garage, plus individual storage lockers for each unit. Each unit includes a similar floor plan and condition, with basement laundry facilities for tenant convenience. The property currently generates a Net Operating Income (NOI) of $64,600, resulting in a 4.04% capitalization rate. The asking price is $1,600,000, translating to $1,970.44 per square foot. While the building is well-maintained, some cosmetic updates could enhance its value. The property benefits from a strong rental history, with potential for future rent increases. Its convenient location near public transportation and major employers like Trustage and Exact Sciences adds to its appeal. Showings begin September 5, 2024. The property's APN is 0708-244-1306-0. Note that only one unit will be available for initial showings. Additional unit rents for a nearby building are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $822,820

  6.5%

  $759,527

  7%

  $705,275

• Comparable approach

  Method

  Valuation

  Relative Method

  $578,301

  Geo Method

  $741,937

• Alternative Use

  Use

  Valuation

  Residential

  $759,527

  Hospitality

  $695,722

  Educational

  $578,833

  Medical

  $598,740

  Retail

  $900,406

Location Insight

City

Madison

County

Dane

State

Wisconsin

Latitude

43.0625

Longitude

-89.4888

CBSA code

31540

CBSA name

MADISON, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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