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Property profile & analytics
OFF-MARKET
Estimated value
$1,210,000
Warehouses
1009 Applegate Rd Madison, WI 53713-3216
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US92-0045362
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1960
Total area
9,800 SF
Lot
0.84 ac (36,750 SF)
Zoning code
IL
APN
0709-353-0507-3
UPID
US92-0045362
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Sherwin-Williams Commercial Paint Store Hardware & Home Improvement Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.37M
CAP Approach
CAP
$965k
Comparable Approach
Comparable
$1.14M
Blend (final)
Blend
$1.21M
Owner & transaction history
1009 Applegate Road LLC · 3 yrs held
1009 Applegate Road LLC
since 2023
Last sale
$1.2M
5 recorded transactions
Zoning & alternative use
IL · Madison, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.9M
+41.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Madison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,395,000
ML approach
$1,365,000
CAP Approach
CAP Return
Estimation
6%
$1,045,000
6.5%
$965,000
7%
$900,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,330,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,880,000
Change: +41% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,185,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$1.21M
Range $1.09M – $1.33M · ±10% · vs last sale $1.20M (Apr 18 2023)
Last sale anchor
$1.20M
Apr 18 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$123 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$15,609
Tax year 2022
Assessed value
$835,000
Assessed 2023
Previous assessed
$792,000
+5.4% YoY
Effective rate
1.87%
On assessed value
Assessed land
$180,000
Assessed improvement
$655,000
Applied tax rate
3,269.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1960
Heating
NONE
Stories
1
Total area
9,800 SF
Lot
0.84 ac (36,750 SF)
Zoning code
IL
APN
0709-353-0507-3
UPID
US92-0045362
Jurisdiction
DANE
Zoning & alternative use
IL · Madison, WI
Zoning IL · permitted uses
IL · Madison, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madison. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.2M
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1960
Heating
NONE
Stories
1
Lot
0.84 ac
Current owner
From public records · entity-resolved
1009 Applegate Road LLC
Entity
Mailing address
925 APPLEGATE RD, MADISON, WI 53713-3215
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 29, 2025
—
1009 Applegate Road LLC
—
Deed
related
$1,825,000 · Fortify Bank
Apr 12, 2024
—
1009 Applegate Road LLC
—
Deed
related
$700,000 · Fortify Bank
Apr 18, 2023
$1,200,000
1009 Applegate Road LLC
David J Jacob
Warranty Deed
$900,000 · Fortify Bank
Nov 23, 2021
—
Michelle Saffell
David J Jacob
Transfer On Death Deed
—
May 3, 2013
—
David J Jacob
Jacob,david J
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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