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Property profile & analytics
OFF-MARKET
Estimated value
$1,260,000
Retail properties & Spaces
23 Towne Mall Madison, WI 53719-1019
Entity Owned
5-yr Hold
Free & Clear
Property ID
US92-1148166
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1970
Total area
96,157 SF
Lot
12.49 ac (544,064 SF)
Zoning code
RMX
APN
0708-261-0097-0
UPID
US92-1148166
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
-
JCPenney Clothing Store Department Store
-
JCPenney Portraits Photography Service (Bike/Boat/Book/etc) Store
-
JCPenney Optical Physician
-
Absolute Divine color ,cuts, Lash extensions & waxing LLC Hair Salon Nail Salon
-
JCPenney Salon Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.72M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.26M
Owner & transaction history
Penney Prop Sub Hldgs LLC · 5 yrs held
Penney Prop Sub Hldgs LLC
since 2021
Last sale
$900,000
7 recorded transactions
Zoning & alternative use
RMX · 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
$1,520,000
ML approach
$1,720,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.26M
Range $1.13M – $1.39M · ±10% · vs last sale $900k (Jan 12 2021)
Last sale anchor
$900k
Jan 12 2021
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
$13 / 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
$131,291
Tax year 2022
Assessed value
$8,301,700
Assessed 2023
Previous assessed
$6,630,000
+25.2% YoY
Effective rate
1.58%
On assessed value
Assessed land
$3,357,000
Assessed improvement
$4,944,700
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
1970
Heating
NONE
Buildings
2
Stories
2
Total area
96,157 SF
Lot
12.49 ac (544,064 SF)
Zoning code
RMX
APN
0708-261-0097-0
UPID
US92-1148166
Jurisdiction
DANE
Zoning & alternative use
RMX · Madison, WI
Zoning RMX · permitted uses
RMX · 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
1970
Heating
NONE
Stories
2
Buildings
2
Lot
12.49 ac
Current owner
From public records · entity-resolved
Penney Prop Sub Hldgs LLC
Entity
Free & Clear · 5 yrs held
Mailing address
6501 LEGACY DR, PLANO, TX 75024-4161
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 9, 2026
—
Penney Property Sub Holdings LLC
—
Deed
related
—
Mar 17, 2021
—
Madison Wtm LLC
—
Deed
related
$2,767,628 · Sdp Reit LLC
Jan 12, 2021
$6,135,000
Penney Prop Sub Hldgs LLC
Jc Penney Proprties LLC
Grant Deed
—
Jan 9, 2020
$900,000
Madison Wtm LLC
J C Penney Properties INC
Grant Deed
—
Aug 2, 2016
—
J C Penney Properties INC
—
Deed
related
$500,000 · Wilmington Tr
Jun 3, 2014
$1,859,300
Smbc Leasing & Finance INC
J C Penney Properties INC
Grant Deed
—
Sep 16, 2010
$4,220,000
J C Penney Properties INC
Pennison Associates LLC
Grant Deed
—
—
—
J C Penney Properties INC
—
Loan Modification
related
$500,000 · Wilmington Tr
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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