Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    2098 Pennsylvania Ave Madison, WI 53704-4746
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2098 Pennsylvania Ave Madison, WI 53704-4746

    View on Map
    • Auto shops
    • 9,450 SF
    • 4.13 lot acres
    Off-Market
    Property ID
    US92-0772463
    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.
    Value Estimations
    $2,235,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Auto shops

    Property Details for 2098 Pennsylvania Ave

    Year built
    1944
    Lot size
    4.13 lot acres
    Property size
    9,450 SF
    Zone code
    IL
    Property type
    Auto shops
    APN
    0710-063-1603-0
    APU
    71006316030

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,192,000
      Market price range: $515k - $2.19M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $2,665,000
      Current use
      RETAIL STORES
      $3,315,000
      Change: +25% Conversion: Difficult
      RESTAURANT
      $3,150,000
      Change: +18% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,690,000
      Change: +1% Conversion: Moderate
      OFFICE BUILDING
      $2,185,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.3609
    Latitude
    43.0972
    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
    $91,193
    $519,500
    $4,316,900
    $4,836,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      5,221 SF

      2501 Springs Dr

      Automotive properties • 5,221 SF
      2501 Springs Dr, Madison, WI 53704
      View Details
    • Value Estimation by Request
      3,999 SF

      3757 Washington Ave

      AUTO REPAIR, GARAGE • 3,999 SF
      3757 Washington Ave, Madison, WI 53704-3646
      View Details
    • Value Estimation by Request
      6,844 SF

      2114 Winnebago St

      AUTO REPAIR, GARAGE • 6,844 SF
      2114 Winnebago St, Madison, WI 53704-5319
      View Details
    • Value Estimation by Request
      1,233 SF

      3375 Washington Ave

      AUTO REPAIR, GARAGE • 1,233 SF
      3375 Washington Ave, Madison, WI 53704-4341
      View Details
    • Value Estimation by Request
      4,440 SF

      2305 Atwood Ave

      AUTO REPAIR, GARAGE • 4,440 SF
      2305 Atwood Ave, Madison, WI 53704-5602
      View Details
    • Value Estimation by Request
      7,560 SF

      2402 Packers Ave

      AUTO REPAIR, GARAGE • 7,560 SF
      2402 Packers Ave, Madison, WI 53704-3166
      View Details

    Similar Nearby for Sale

    • $1,499,999

      Turnkey Automotive Sales and Repair

      State-of-the-art automotive facility on a high-traffic corridor.
      2402 S Stoughton Rd, Madison, WI 53704
      View Details
    • $1,499,999

      Turnkey Automotive Facility on Stoughton Road

      State-of-the-art automotive sales and repair facility on Hwy 51.
      2402 S Stoughton Rd, Madison, WI 53704
      View Details
    • New
      $2,500,000
      5,221 SF

      Madison Automotive Business Opportunity

      Prime commercial property ideal for automotive business, near I-90.
      2501 Spring St East, Madison, WI 53704
      View Details
    • Contact for pricing
      5,221 SF

      Automotive Business Opportunity Near I-90

      Prime commercial property ideal for automotive business near I-90.
      2501 East Springs Dr, Madison, WI 53704
      View Details
    • Contact for pricing
      138,755 SF

      East Towne Mall Redevelopment Opportunity

      Former Boston Store site in Madison, Wisconsin, for sale.
      53 E Towne Way, Madison, WI 53704
      View Details
    • Contact for pricing
      3,806 SF

      Popeyes Restaurant Investment Opportunity

      Popeyes location on Madison’s East Side with minimal landlord responsibilities.
      4002 E Washington Ave, Madison, WI 53704
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Flexible Retail & Office Spaces

      Retail and office spaces available in a prime location.
      1765 Thierer Rd, Madison, WI 53704
      View Details
    • Contact for pricing

      Retail Space Near East Towne

      Retail space adjacent to East Towne Mall and East Prairie Commons.
      4303 E Towne Way, Madison, WI 53704
      View Details
    • $13 SF/Yr
      2,040 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
      10,000 SF

      Former Salon and Therapy Space

      Retail/Medical space with high visibility and natural light.
      1936 Tennyson Ln, Madison, WI 53704
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Madison, Wisconsin.
      2608 E Washington Ave, Madison, WI 53704
      View Details
    • $20 SF/Yr
      3,800 SF

      Retail Space in High-Traffic Area

      Highly visible retail space near UW Medical Clinic and Downtown.
      2801-2835 E Washington Ave, Madison, WI 53704
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2098 Pennsylvania Ave
    Madison, WI 53704-4746
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!