New search
Property profile & analytics
OFF-MARKET
Estimated value
$3,850,000
Manufacturing properties
2221 Mustang Way, Madison, WI 53718-6767
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US92-0904497
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Lot
2.77 ac (120,618 SF)
Zoning code
IL
APN
0710-154-0205-2
UPID
US92-0904497
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
-
Oakhouse Bakery Bakery Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.85M
Owner & transaction history
Oakhouse Re LLC
Oakhouse Re LLC
since 2025
Last sale
$3.9M
6 recorded transactions
Zoning & alternative use
IL · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$46,555
Tax year 2022
Assessed value
$2,700,600
Assessed 2023
Previous assessed
$2,353,700
+14.7% YoY
Effective rate
1.72%
On assessed value
Assessed land
$499,200
Assessed improvement
$2,201,400
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Heating
NONE
Lot
2.77 ac (120,618 SF)
Zoning code
IL
APN
0710-154-0205-2
UPID
US92-0904497
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.
Building & site characteristics
From public records
Heating
NONE
Lot
2.77 ac
Current owner
From public records · entity-resolved
Oakhouse Re LLC
Entity
Mailing address
7597 E US HWY 36, AVON, IN 46123-7171
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 9, 2025
$3,850,000
Oakhouse Re LLC
H&e Development LLC
Warranty Deed
$250,000 · Proterra Finance LLC
Jan 30, 2018
—
H & E Dev LLC
—
Trustees Deed
related
$2,017,000 · Associated Bk NA
Mar 27, 2017
—
H & E Development LLC
—
Deed
related
$300,000 · Associated Bank NA
Jul 9, 2010
$1,000,000
H & E Dev LLC
Vs Of Madison LLP
Warranty Deed
—
Jun 18, 2008
—
Vs Of Madison LLP
—
Deed Of Trust
related
$5,575,000 · Park Bank
—
—
H & E Dev LLC
—
Deed Of Trust
related
$960,000 · 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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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