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    Property profile & analytics

    2223 Darwin Rd Madison, WI 53704-3105

    • Warehouses
    • 12,000 SF
    • 0.92 lot acres
    OFF-MARKET
    Value Estimations
    $775,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0530298
    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

    • VAN Rental Madison - CARNGO / Car Rental Facility

    Property Details for 2223 Darwin Rd

    Year built
    1977
    Lot size
    0.92 lot acres
    Property size
    12,000 SF
    Zone code
    IL
    Property type
    Warehouses
    APN
    0810-304-0085-8
    APU
    81030400858

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.3526
    Latitude
    43.1285
    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
    $6,247
    $88,000
    $273,000
    $361,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $8,115,000
      136,457 SF

      1802 Wright St

      WAREHOUSE, STORAGE • 136,457 SF
      1802 Wright St, Madison, WI 53704-2522
      View Details
    • Value Estimation
      $2,780,000
      39,000 SF

      2901 Packers Ave

      WAREHOUSE, STORAGE • 39,000 SF
      2901 Packers Ave, Madison, WI 53704-3047
      View Details
    • Value Estimation
      $900,000
      14,000 SF

      2201 Darwin Rd

      WAREHOUSE, STORAGE • 14,000 SF
      2201 Darwin Rd, Madison, WI 53704-3105
      View Details
    • Value Estimation
      $790,000
      10,500 SF

      7065 Manufacturers Dr

      MINI-WAREHOUSE, STORAGE • 10,500 SF
      7065 Manufacturers Dr, Madison, WI 53704-6305
      View Details
    • Value Estimation by Request
      48,800 SF

      3818 John Wall Dr

      Life science properties • 48,800 SF
      3818 John Wall Dr, Madison, WI 53704
      View Details
    • Value Estimation by Request
      91,530 SF

      2012 Commercial Ave

      Refrigerated & Cold Storage • 91,530 SF
      2012 Commercial Ave, Madison, WI 53704
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      352,117 SF

      Spacious Warehouse/Manufacturing Facility

      352,117 SF warehouse/manufacturing space with flexible division options.
      2211 Fordem Ave, Madison, WI 53704
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    • Contact for pricing
      352,117 SF

      Madison Industrial Manufacturing Space

      352,117 SF Manufacturing Building, Madison, WI
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    • $3,900,000
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      Madison Mall Redevelopment Opportunity

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    • Contact for pricing

      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
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    • 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
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    • Contact for pricing
      13 SF

      Retail Space Available for Sale

      3,705 SF retail space available, divisible, co-tenants include Taco Bell.
      4124 E Washington Ave, Madison, WI 53704
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      36,000 SF

      Industrial Space Near Airport

      Customizable industrial space available for rent near Dane County Airport.
      1914 Wright St, Madison, WI 53704
      View Details
    • $15 SF/Yr
      1,200 SF

      Contractor Garage Space Available

      1,200 SF contractor garage with overhead door and bathroom.
      4250 Acker Rd, Madison, WI 53704
      View Details
    • $9 SF/Yr
      6,960 SF

      Warehouse with Extensive Outdoor Space

      6,960 SF warehouse with fenced outdoor storage and office.
      3030 Gateway Pl, Madison, WI 53704
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    • $6 SF/Yr
      7,250 SF

      Industrial Space for Lease

      7,250 SF light industrial space suitable for warehousing/distribution.
      2310 Darwin Rd, Madison, WI 53704
      View Details
    • Contact for pricing
      5,400 SF

      Madison Warehouse Space for Lease

      Warehouse space available for lease in Madison, Wisconsin.
      5376 Farmco Dr, Madison, WI 53704
      View Details
    • $8 SF/Yr
      5,880 SF

      Industrial Space with I-94 Visibility

      Industrial space for rent with excellent highway access and visibility.
      22 Transport Ct, Madison, WI 53704
      View Details
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    2223 Darwin Rd
    Madison, WI 53704-3105
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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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