Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2132 Fordem Ave Madison, WI 53704-4699

    • Office buildings
    • 2,636 SF
    • 0.19 lot acres
    OFF-MARKET
    Last Sale
    Aug 16, 2021
    $556,000
    Value Estimations
    $775,000
    Show details
    Cap Rate Potential
    5.1%
    Office buildings
    Location Intelligence
    Property ID
    US92-0245468
    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

    • RPG Rentals / Real Estate Agency
    • SOAR Comm Mental Health / Corporate Office
    • SOAR Case Management Services, Inc. / Crisis Center / Medical Clinic
    • Polka Press / Training Center / Vocational School
    • United Refugee Services of Wisconsin / Charitable Organization / Social Service Agency

    Property Details for 2132 Fordem Ave

    Year built
    1951
    Lot size
    0.19 lot acres
    Property size
    2,636 SF
    Zone code
    NMX
    Property type
    Office buildings
    APN
    0709-121-0108-0
    APU
    70912101080

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $940,000
      ML approach
      $980,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $790,000
      6.5%
      $730,000
      7%
      $680,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $883,000
      Market price range: $355k - $884k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $610,000
      Current use
      RETAIL STORES
      $925,000
      Change: +52% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $750,000
      Change: +23% Conversion: Easy
      AUTO REPAIR, GARAGE
      $745,000
      Change: +22% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $505,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.3643
    Latitude
    43.1015
    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
    $10,933
    $50,000
    $506,000
    $556,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      4.79 Acres

      2701 International Lne

      PROFESSIONAL BUILDING (MULTI-STORY) • 4.79 Acres
      2701 International Lne, Madison, WI 53704-3126
      View Details
    • Value Estimation
      $4,705,000
      35,878 SF

      1902 Wright St

      PROFESSIONAL BUILDING (MULTI-STORY) • 35,878 SF
      1902 Wright St, Madison, WI 53704-2570
      View Details
    • Value Estimation
      $3,835,000
      31,026 SF

      2901 International Ln

      PROFESSIONAL BUILDING (MULTI-STORY) • 31,026 SF
      2901 International Ln, Madison, WI 53704-3177
      View Details
    • Value Estimation by Request
      8.33 Acres

      2202 International Ln

      PROFESSIONAL BUILDING (MULTI-STORY) • 8.33 Acres
      2202 International Ln, Madison, WI 53704
      View Details
    • Value Estimation
      $3,745,000
      25,980 SF

      2417 International Ln

      PROFESSIONAL BUILDING (MULTI-STORY) • 25,980 SF
      2417 International Ln, Madison, WI 53704-3121
      View Details
    • Value Estimation by Request
      1,419 SF

      1915 Winnebago St

      PROFESSIONAL BUILDING (MULTI-STORY) • 1,419 SF
      1915 Winnebago St, Madison, WI 53704-5305
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      159,404 SF

      Connected Office Buildings Near Airport

      Two connected office buildings with cafeteria and ample parking.
      2401-2501 International Ln, Madison, WI 53704
      View Details
    • Contact for pricing

      Two-Building Office Complex For Sale

      Two-story office buildings near amenities with easy highway access.
      Madison, WI 53704
      View Details
    • $549,000
      5,501 SF

      Single Tenant Office Building

      5,501 sq ft single tenant office building for sale.
      2424 American Ln, Madison, WI 53704
      View Details
    • Contact for pricing

      Connected Office Buildings Near Airport

      Two connected office buildings with cafeteria and convenient airport access.
      2401 International Ln, Madison, WI 53704
      View Details
    • Contact for pricing
      955 SF

      Office Building Near Dane Airport

      Office property near the airport with recent upgrades and wooded setting.
      2702 International Ln, Madison, WI 53704
      View Details
    • Contact for pricing
      10,389 SF

      Retail/Office Building with Build-Out Potential

      Retail/office building with move-in ready area and build-out potential.
      2528 E Washington Ave, Madison, WI 53704
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr

      Single Tenant Office Building

      5,501 sq ft office building for lease.
      2424 American Ln, Madison, WI 53704
      View Details
    • $18 SF/Yr
      65,819 SF

      Madison Executive Office Suites

      Prime Madison location, flexible spaces available.
      1765 Thierer Rd, Madison, WI 53704
      View Details
    • Contact for pricing
      19,888 SF

      Madison Office Space For Lease

      1,500 SF Executive/Creative Office
      2702 International Ln, Madison, WI 53704
      View Details
    • $20 SF/Yr
      2,000 SF

      East Washington Avenue Office Space

      Second-floor office space in a high-visibility shopping center.
      2701-2717 E Washington Ave, Madison, WI 53704
      View Details
    • $18 SF/Yr
      2,400 SF

      Retail/Office Space Near East Towne

      Retail and office suites available near East Towne Mall.
      1753-1773 Thierer Rd, Madison, WI 53704
      View Details
    • $15 SF/Yr
      939 SF

      Economical Office Space Near Hwy

      Office suites available near Hwy 51, ample parking.
      2801 International Ln, 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.
    2132 Fordem Ave
    Madison, WI 53704-4699
    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!