Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    2521 Washington Ave Madison, WI 53704-5277

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2521 Washington Ave Madison, WI 53704-5277

    View on Map
    • Apartment buildings
    • 3.00 lot acres
    Off-Market
    Property ID
    US92-2939427
    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.
    Value Estimations
    $765,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Nexus at Union Corners / Apartment Complex

    Property Details for 2521 Washington Ave

    Year built
    2022
    Lot size
    3.00 lot acres
    Zone code
    PD
    Property type
    Apartment buildings
    APN
    0710-061-3512-5
    APU
    71006135125

    Description

    This exceptional commercial property, Nexus & Carbon at Union Corners, offers a diverse range of office spaces in Madison, Wisconsin. Located at 2521 E Washington Ave, in Dane County, this prime location boasts excellent visibility on the busy East Washington corridor. The two, five-story buildings, constructed in 2022, comprise a total of 110,525 square feet of Class A space. Units are available in sizes ranging from a minimum of 650 square feet to a maximum contiguous space of 6,000 square feet, with 10,722 square feet currently vacant. Ideal for a variety of businesses, including offices, retail stores, and food service establishments, these spaces benefit from a large local resident base. One end-cap suite includes a desirable patio area. Net, Net, Net (NNN) expenses are included in the lease rate, and tenant improvement allowances may be available depending on lease terms. The property's address is 2521 E Washington Ave, Madison, WI 53704, and is conveniently situated near Milwaukee St.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $765,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.3485
    Latitude
    43.0995
    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
    $163,570
    $1,575,000
    $17,731,000
    $19,306,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $18,850,000
      121,013 SF

      1952 Atwood Ave

      APARTMENT HOUSE (5+ UNITS) • 121,013 SF
      1952 Atwood Ave, Madison, WI 53704-5221
      View Details
    • Value Estimation
      $13,840,000
      110,496 SF

      4805 Lien Rd

      APARTMENT HOUSE (5+ UNITS) • 110,496 SF
      4805 Lien Rd, Madison, WI 53704-3669
      View Details
    • Value Estimation
      $1,545,000
      11,433 SF

      3702 Packers Ave

      APARTMENT HOUSE (5+ UNITS) • 11,433 SF
      3702 Packers Ave, Madison, WI 53704-2427
      View Details
    • Value Estimation
      $740,000
      3,800 SF

      3166 Ridgeway Ave

      APARTMENT HOUSE (5+ UNITS) • 3,800 SF
      3166 Ridgeway Ave, Madison, WI 53704-4379
      View Details
    • Value Estimation
      $1,905,000
      12,532 SF

      901 Rockefeller Ln

      APARTMENT HOUSE (5+ UNITS) • 12,532 SF
      901 Rockefeller Ln, Madison, WI 53704-8505
      View Details
    • Value Estimation
      $510,000
      2,900 SF

      2257 Washington Ave

      APARTMENT HOUSE (5+ UNITS) • 2,900 SF
      2257 Washington Ave, Madison, WI 53704-5280
      View Details

    Similar Nearby for Sale

    • $1,195,000

      Mixed-Use Building in Emerson East

      Corner lot property with retail and apartment units in Madison.
      2350 E Washington Ave, Madison, WI 53704
      View Details
    • $575,000
      Pending

      Updated Townhouse Style Duplex

      Updated side-by-side duplex on the Isthmus, great for owner-occupants.
      108 North 4Th St, Madison, WI 53704
      View Details
    • Contact for pricing

      Lighthouse Bay Duplex with Boat Slip

      Duplex with lake views, boat slip, and spacious floor plan.
      5325 Lighthouse Bay Dr, Madison, WI 53704
      View Details
    • Contact for pricing
      5,221 SF

      Versatile Commercial Land Opportunity

      3.26-acre property with diverse development potential in Madison, WI.
      2501 E Springs Dr, Madison, WI 53704
      View Details
    • Contact for pricing
      86,175 SF

      StorQuest Self Storage - Madison

      86,175 square foot self-storage facility in Madison, Wisconsin.
      2602 Shopko Dr, Madison, WI 53704
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      2,722 SF

      Retail Space in Union Corners

      Retail space for rent in historical landmark with built-in customer base.
      2418-2438 Winnebago St, 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
    • Contact for pricing

      Flexible Retail & Office Spaces

      Retail and office spaces available in a prime location.
      1765 Thierer Rd, Madison, WI 53704
      View Details
    • Contact for pricing

      Retail Space Near East Towne

      Retail space adjacent to East Towne Mall and East Prairie Commons.
      4303 E Towne Way, Madison, WI 53704
      View Details
    • Contact for pricing

      Spacious Warehouse and Office Facility

      352,117 SF warehouse/manufacturing with office space for rent.
      2211 Fordem Ave, Madison, WI 53704
      View Details
    • $13 SF/Yr
      2,040 SF

      Open Retail Space Available

      2,760 SF open retail space, shared parking.
      4013-4017 Lien Rd, 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.
    2521 Washington Ave
    Madison, WI 53704-5277
    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

    Thank You for Inquiry

    2521 Washington Ave, Madison, WI, 53704

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!