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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1121 Park St Madison, WI 53715-1758

    • Apartment buildings
    • 61,815 SF
    • 0.64 lot acres
    OFF-MARKET
    Value Estimations
    $7,635,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-1407391
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • The Emerson At Bay Creek / Apartment Building

    Property Details for 1121 Park St

    Year built
    2020
    Lot size
    0.64 lot acres
    Property size
    61,815 SF
    Zone code
    TSS
    Property type
    Apartment buildings
    APN
    0709-262-0618-1
    APU
    70926206181

    Description

    The Emerson at Bay Creek offers exceptional retail space in Madison, Wisconsin. This vibrant storefront, part of a new mixed-use development, boasts 2,500 square feet of immediately available space, divisible to 1,250 square feet, perfect for a variety of businesses. Located at 1121 S Park St, 53715, this property benefits from high visibility and accessibility, situated near UW Health and the Isthmus. The building, constructed in 2021, features modern design elements including floor-to-ceiling windows and impressive 14-foot high ceilings, providing ample natural light and a spacious feel. An attractive tenant improvement allowance of $30 per square foot is available to customize the space to your specific needs. An endcap unit is particularly well-suited for a café or restaurant, with the added benefit of a desirable outdoor patio area. On-site parking is reserved for commercial tenants, ensuring convenient access for customers and employees. The property's prime location on S Park St enjoys high traffic counts, averaging 26,050 vehicles daily, providing excellent exposure for your business. The zoning is TSS, and Dane County taxes and CAM charges are $6.50 per square foot. This is a rare opportunity to establish your business in a thriving Madison neighborhood within a modern, well-maintained building. Don't miss this chance to secure your ideal retail space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.3966
    Latitude
    43.0547
    CBSA code
    31540
    CBSA name
    MADISON, WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $156,259
    $660,000
    $7,550,000
    $8,210,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      1007 Fish Hatchery Rd

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      1019 Milton St

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      202 Charter St

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      202 Brks St

      APARTMENT HOUSE (5+ UNITS) • 25,435 SF
      202 Brks St, Madison, WI 53715-1140
      View Details
    • Value Estimation
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      1015 Mound St

      APARTMENT HOUSE (5+ UNITS) • 108,840 SF
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    Similar Nearby for Sale

    • $1,200,000

      Mixed-Use Lot in Madison, WI

      Mixed-use property with redevelopment potential near downtown and UW Campus.
      405-413 S Park St, Madison, WI 53715
      View Details
    • $1,179,000

      Mixed-Use Building Near Park Street

      Two-story mixed-use property with commercial space and residential units.
      702 W Wingra Dr, Madison, WI 53715
      View Details
    • $799,000

      Mixed-Use Lot in Madison, WI

      Two-parcel mixed-use lot with leased commercial building and parking.
      405 S Park St, Madison, WI 53715
      View Details
    • Contact for pricing
      7,264 SF

      Madison Mixed-Use Corner Property

      Prime location, restaurant, apartments, redevelopment potential.
      2 Mills St, Madison, WI 53715
      View Details
    • $2,400,000

      Land Available in Madison, WI

      Land for sale at S Park St & W Wingra Dr.
      W Wingra Dr, Madison, WI 53715
      View Details
    • $6,000,000
      24,340 SF

      Redevelopment Opportunity Near Downtown Madison

      Redevelopment opportunity in the Park Street gateway.
      1602 S Park St, Madison, WI 53715
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
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      The Sofia: Madison Office Space

      Modern Office Suite, Downtown Proximity
      1224 Park St, Madison, WI 53715
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    • $24 SF/Yr
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      Retail/Office Space in Downtown Madison

      Retail and office spaces with cooler and signage opportunity.
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    • $21 SF/Yr
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      Downtown Madison Retail/Office Space

      Nicely finished 2,000 SF office/retail space in downtown Madison.
      1021-1023 S Park St, Madison, WI 53715
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    • $22 SF/Yr
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      Modern Office Space Available

      Office space in modern building with amenities and parking.
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    • $23 SF/Yr
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      Charming Retail Space in Madison

      Historical charm meets modern finishes in Madison's Cap East District.
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    • New
      $600 /Mo

      Functional Lower-Level Office Space

      Inexpensive office space near campus on Regent Street.
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    1121 Park St
    Madison, WI 53715-1758
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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