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

    1502 Broadway Monona, WI 53713-1800

    • Office buildings
    • 34,558 SF
    • 0.79 lot acres
    OFF-MARKET
    Value Estimations
    $4,330,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0283942
    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

    • Office buildings

    Property Details for 1502 Broadway

    Year built
    2020
    Lot size
    0.79 lot acres
    Property size
    34,558 SF
    Zone code
    CC-T
    Property type
    Office buildings
    APN
    0710-203-0406-1
    APU
    71020304061

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,659,000
      Market price range: $4.66M - $11.6M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $6,635,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Monona
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.3407
    Latitude
    43.0477
    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
    $55,894
    $160,000
    $2,665,000
    $2,825,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $5,340,000
      39,040 SF

      3113 Beltline Hwy

      PROFESSIONAL BUILDING (MULTI-STORY) • 39,040 SF
      3113 Beltline Hwy, Madison, WI 53713-2848
      View Details
    • Value Estimation
      $46,280,000
      404,794 SF

      2501 Beltline Hwy

      PROFESSIONAL BUILDING (MULTI-STORY) • 404,794 SF
      2501 Beltline Hwy, Madison, WI 53713-2318
      View Details
    • Value Estimation
      $1,755,000
      9,270 SF

      2005 Beltline Hwy

      PROFESSIONAL BUILDING (MULTI-STORY) • 9,270 SF
      2005 Beltline Hwy, Madison, WI 53713-2314
      View Details
    • Value Estimation
      $2,000,000
      13,180 SF

      1709 Park St

      PROFESSIONAL BUILDING (MULTI-STORY) • 13,180 SF
      1709 Park St, Madison, WI 53713-1200
      View Details
    • Value Estimation
      $910,000
      6,445 SF

      1502 Greenway Cross

      PROFESSIONAL BUILDING (MULTI-STORY) • 6,445 SF
      1502 Greenway Cross, Madison, WI 53713-3173
      View Details
    • Value Estimation
      $655,000
      3.09 Acres

      726 Post Rd

      PROFESSIONAL BUILDING (MULTI-STORY) • 3.09 Acres
      726 Post Rd, Madison, WI 53713-4620
      View Details

    Similar Nearby for Sale

    • $3,540,000
      31,000 SF

      Modern Office Campus Near Madison

      Modern office campus with highway access near downtown Madison.
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    • $1,650,000
      22,906 SF

      High-Visibility Office Building For Sale

      Office building with Beltline Highway visibility and owner-occupant suite.
      101 Nob Hill Rd, Madison, WI 53713
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    • $1,399,900

      Versatile Commercial Space on Madison's West

      5,250 sqft commercial space ideal for various business uses.
      1225 Greenway Cross, Madison, WI 53713
      View Details
    • $1,095,000
      14,476 SF

      Madison Industrial Property: Office & Warehouse

      14,476 SF Office/Warehouse, $1.09M
      913 Watson Ave, Madison, WI 53713
      View Details
    • Contact for pricing

      Office Space with Beltline Visibility

      Office unit with high visibility and easy access to Madison.
      2005 W Beltline Hwy, Madison, WI 53713
      View Details
    • Contact for pricing

      Office Suites with Beltline Visibility

      Office suites available with easy access to Madison areas.
      2801 Coho St, Madison, WI 53713
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      42,000 SF

      Madison Office Space For Rent

      Office building with high-quality finishes and flexible space.
      450 Coyier Ln, Madison, WI 53713
      View Details
    • $21 SF/Yr
      19,360 SF

      Proposed Class A Office Building

      Proposed 6-story Class A office building with retail space for rent.
      2600 W Beltline Hwy, Madison, WI 53713
      View Details
    • $15 SF/Yr
      100,000 SF

      Madison Executive Office Space

      Prestigious Madison office, 33,000 SF available.
      45 Nob Hill Rd, Madison, WI 53713
      View Details
    • $21 SF/Yr
      100,000 SF

      Class A Madison Office Space

      Premium Office Suites, West Beltline
      2600 Beltline Hwy, Madison, WI 53713
      View Details
    • $18 SF/Yr
      1,694 SF

      Madison Office Space For Lease

      Centrally located office space near downtown Madison with ample parking.
      122 E Olin Ave, Madison, WI 53713
      View Details
    • $9 SF/Yr
      2,200 SF

      Finished Office Space Available Now

      2,200 SF finished office space for rent, available now.
      2814 Syene Rd, Madison, WI 53713
      View Details
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    1502 Broadway
    Monona, WI 53713-1800
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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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