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

    1909 Aberg Ave Madison, WI 53704-4203

    • Showrooms
    • 8,064 SF
    • 1.11 lot acres
    OFF-MARKET
    Last Sale
    Nov 10, 2024
    $1,100,000
    Value Estimations
    $1,500,000
    Show details
    Cap Rate Potential
    7.3%
    Showrooms
    Location Intelligence
    Property ID
    US92-1036549
    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

    • Aberg Mini Warehouses / Storage Facility
    • Where-U-Store-It / Storage Facility

    Property Details for 1909 Aberg Ave

    Year built
    1982
    Lot size
    1.11 lot acres
    Property size
    8,064 SF
    Zone code
    TR-U1
    Property type
    Showrooms
    APN
    0810-313-0402-5
    APU
    81031304025

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,520,000
      ML approach
      $1,485,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,855,000
      6.5%
      $1,710,000
      7%
      $1,590,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,169,000
      Market price range: $899k - $3.32M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,295,000
      Current use
      AUTO REPAIR, GARAGE
      $2,275,000
      Change: -1% Conversion: Difficult
      OFFICE BUILDING
      $1,865,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.3581
    Latitude
    43.1138
    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
    $17,749
    $135,000
    $765,000
    $900,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $275,000
      1,344 SF

      1319 Everett St

      SHOW ROOM, WAREHOUSE • 1,344 SF
      1319 Everett St, Madison, WI 53704-4211
      View Details
    • Value Estimation
      $1,160,000
      58,080 SF

      1402 Parkside Dr

      SHOW ROOM, WAREHOUSE • 58,080 SF
      1402 Parkside Dr, Madison, WI 53704
      View Details
    • Value Estimation
      $555,000
      12,720 SF

      5702 Manufacturers Dr

      SHOW ROOM, WAREHOUSE • 12,720 SF
      5702 Manufacturers Dr, Madison, WI 53704-6276
      View Details
    • Value Estimation
      $370,000
      15,904 SF

      110 Waubesa St

      SHOW ROOM, WAREHOUSE • 15,904 SF
      110 Waubesa St, Madison, WI 53704-5431
      View Details
    • Value Estimation
      $400,000
      7,200 SF

      3409 Miller St

      SHOW ROOM, WAREHOUSE • 7,200 SF
      3409 Miller St, Madison, WI 53704-2527
      View Details
    • Value Estimation
      $385,000
      15,000 SF

      3304 Miller St

      SHOW ROOM, WAREHOUSE • 15,000 SF
      3304 Miller St, Madison, WI 53704
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      3,705 SF retail space available, divisible, co-tenants include Taco Bell.
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      East Pointe Plaza Retail Center

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      Fully leased retail building with long-term tenants and high visibility.
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    • $1,499,999

      Turnkey Automotive Sales and Repair

      Automotive sales and repair facility on a high-traffic corridor.
      2402 S Stoughton Rd, Madison, WI 53704
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    • $2,122,100
      9,421 SF

      Madison Commercial Property Investment Opportunity

      Commercial property on Madison’s east side with long-term redevelopment possibilities.
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      Retail/Office Building with Build-Out Potential

      Retail/office building with move-in ready area and build-out potential.
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    Similar Nearby for Lease

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      4,866 SF

      East Towne Drive-Thru Retail Space

      High-visibility Madison restaurant, 4,866 SF
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      View Details
    • $15 SF/Yr
      62,000 SF

      Madison Retail Space - Prime Location

      Former salon, flexible space, ample parking.
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      View Details
    • $18 SF/Yr
      2,400 SF

      Retail/Office Space Near East Towne

      Retail and office suites available near East Towne Mall.
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      View Details
    • $18 SF/Yr
      2,760 SF

      Open Retail Space Available

      2,760 SF open retail space, shared parking.
      4013-4017 Lien Rd, Madison, WI 53704
      View Details
    • $15 SF/Yr
      1,573 SF

      Retail Space in East Towne

      Located in the East Towne Mall shopping corridor.
      4261 Lien Rd, Madison, WI 53704
      View Details
    • $18 SF/Yr
      1,645 SF

      Atwood Avenue Office/Retail Space

      First floor office/retail space in the Schenk Atwood neighborhood.
      2045 Atwood Ave, Madison, WI 53704
      View Details
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    1909 Aberg Ave
    Madison, WI 53704-4203
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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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