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Property profile & analytics
OFF-MARKET
Estimated value
$8,555,000
Commercial land
1834 Commercial Ave Madison, WI 53704-4625
Entity Owned
15-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US92-3480249
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1963
Total area
37,950 SF
Lot
1.44 ac (62,726 SF)
Zoning code
IL
APN
0810-313-0094-0
UPID
US92-3480249
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
-
Hartmeyer Ice Arena Theater & Performing Art Venue Sports Field & Court
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.81M
Blend (final)
Blend
$8.56M
Owner & transaction history
Madison Ice Mia LLC · 15 yrs held
Madison Ice Mia LLC
since 2011
4 recorded transactions
Zoning & alternative use
IL · Madison, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$13.3M
+23.3%
Restaurant
$12.6M
+17.0%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$10,805,000
Current use
RETAIL STORES
$13,320,000
Change: +23% · Conversion: Easy
RESTAURANT
$12,645,000
Change: +17% · Conversion: Difficult
AUTO REPAIR, GARAGE
$10,695,000
Change: -1% · Conversion: Difficult
OFFICE BUILDING
$8,775,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$8.56M
Range $7.70M – $9.41M · ±10%
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
$225 / 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
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1963
Heating
NONE
Stories
1
Total area
37,950 SF
Lot
1.44 ac (62,726 SF)
Zoning code
IL
APN
0810-313-0094-0
UPID
US92-3480249
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
COMMERCIAL (GENERAL) Current
Est. value
$10.8M
RETAIL STORES
Est. value
$13.3M
RESTAURANT
Est. value
$12.6M
AUTO REPAIR, GARAGE
Est. value
$10.7M
OFFICE BUILDING
Est. value
$8.8M
COMMERCIAL (GENERAL) Current
RETAIL STORES
RESTAURANT
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1963
Heating
NONE
Stories
1
Lot
1.44 ac
Current owner
From public records · entity-resolved
Madison Ice Mia LLC
Entity
Mailing address
725 FORWARD DR, MADISON, WI 53711-2442
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 7, 2017
—
Madison Ice Hartmeyer LLC
—
Deed
related
$999,356 · Miscellaneous Govt Agcy
Apr 12, 2011
$550,000
Madison Ice Mia LLC
City Of Madison
Dual Purpose Document
related
$432,518 · Miscellaneous Govt Agcy
Aug 17, 2004
—
Madison Ice Hartmeyer LLC
City Of Madison
Quit Claim Deed
related
—
—
—
Madison Ice Hartmeyer LLC
—
Loan Modification
related
$999,356 · Miscellaneous Govt Agcy
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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