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Property profile & analytics
OFF-MARKET
Estimated value
$3,595,000
Retail properties & Spaces
2148 Beltline Hwy Madison, WI 53713-2340
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US92-0848334
Property summary
AI-generated overview
This exceptional 31,033-square-foot retail space at 2148 W. Beltline Highway in Madison, Wisconsin, presents a unique investment opportunity. Currently vacant for the first time since 1994, this single-tenant property boasts unparalleled visibility and convenient access to the busy West Beltline Highway. Situated within the highly desirable Arboretum Place Retail Center, this "big box" zoned (CC) property benefits from ample reserved and center parking, ensuring ease of access for customers and employees. The building's size and location make it ideal for a variety of retail uses. The property is located in Dane County, Wisconsin, with a Madison zip code of 53713. Its strategic placement alongside established and successful businesses such as Steinhafels, UnityPoint Health, Sky Zone, and Culver's, guarantees high foot traffic and brand recognition. This is a rare chance to secure a prominent retail location in a thriving commercial area. The property's significant size and prime location offer substantial potential for a discerning tenant seeking a high-impact presence in the Madison market. The entire 31,033 square feet is available. Contact us today to learn more about this exceptional opportunity.
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1994
Total area
31,033 SF
Lot
1.81 ac (79,018 SF)
Zoning code
CC
APN
0709-343-0703-8
UPID
US92-0848334
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
-
i.d. SPOT (Bike/Boat/Book/etc) Store Pet Store & Service
-
Pet World Warehouse Outlet (Bike/Boat/Book/etc) Store Pet Store & Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.76M
Blend (final)
Blend
$3.60M
Owner & transaction history
James A Shapiro · 5 yrs held
James A Shapiro
since 2021
4 recorded transactions
Zoning & alternative use
CC · Madison, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
Blend value · Realmo final
$3.60M
Range $3.24M – $3.95M · ±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
$116 / 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
Tax billed
$42,647
Tax year 2022
Assessed value
$2,519,300
Assessed 2023
Previous assessed
$2,156,500
+16.8% YoY
Effective rate
1.69%
On assessed value
Assessed land
$435,000
Assessed improvement
$2,084,300
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1994
Heating
NONE
Stories
1
Total area
31,033 SF
Lot
1.81 ac (79,018 SF)
Zoning code
CC
APN
0709-343-0703-8
UPID
US92-0848334
Jurisdiction
DANE
Zoning & alternative use
CC · Madison, WI
Zoning CC · permitted uses
CC · 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.
Building & site characteristics
From public records
Year built
1994
Heating
NONE
Stories
1
Lot
1.81 ac
Current owner
From public records · entity-resolved
James A Shapiro
Individual
Mailing address
3428 ICE AGE LN, VERONA, WI 53593-8737
Ownership since
2021
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
Mar 25, 2021
—
2148 Pt LLC
—
Deed
related
$300,000 · Dmb Community Bank
Jan 14, 2021
—
James A Shapiro
2148 W Beltline LLC
Quit Claim Deed
$1,500,000 · Dmb Community Bank
Aug 5, 2013
—
2148 W Beltline LLC
Shapiro,james A
Quit Claim Deed
related
—
—
—
James A Shapiro
—
Deed Of Trust
related
$1,890,000 · Associated Bank
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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