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    3609 University Ave Madison, WI 53705

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    3609 University Ave Madison, WI 53705

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    • Banks
    • 4,856 SF
    • 0.72 lot acres
    For Sale
    $2,975,000
    View Listing →
    University Avenue Land Lease Opportunity For Sale
    $2,975,000
    0.72 Acres

    University Avenue Land Lease Opportunity

    NNN land lease for sale at University Avenue and Midvale.

    3609 University Ave, Madison, WI
    View Listing
    Property ID
    US92-1197367
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • U.S. Bancorp Investments - Financial Advisors: Justin Gasser / Financial Advisor
    • U.S. Bank Branch / Bank / Loan Service
    • U.S. Bank-TJ Sainsbury-Mortgage Loan Officer / Loan Service / Bank
    • US Bank Mortgage / Loan Service / Bank
    • U.S. Bank ATM / Atm

    Property Details for 3609 University Ave

    Year built
    1970
    Lot size
    0.72 lot acres
    Property size
    4,856 SF
    Zone code
    CC-T
    Property type
    Banks
    APN
    0709-201-0416-7
    APU
    70920104167

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $460,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $606,000
      Market price range: $353k - $760k

    • Alternative Use

      Use
      Estimation
      FINANCIAL BUILDING
      $535,000
      Current use
      AUTO REPAIR, GARAGE
      $770,000
      Change: +44% Conversion: Difficult
      RETAIL STORES
      $690,000
      Change: +29% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $505,000
      Change: -5% Conversion: Difficult
      MEDICAL BUILDING
      $460,000
      Change: -14% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.4505
    Latitude
    43.0749
    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
    $26,131
    $688,000
    $635,000
    $1,323,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $760,000
      5,128 SF

      401 Segoe Rd

      FINANCIAL BUILDING • 5,128 SF
      401 Segoe Rd, Madison, WI 53705-3106
      View Details
    • Value Estimation
      $1,785,000
      2,926 SF

      302 Midvale Blvd

      FINANCIAL BUILDING • 2,926 SF
      302 Midvale Blvd, Madison, WI 53705-3202
      View Details
    • Value Estimation
      $600,000
      0.72 Acres

      216 Price Pl

      FINANCIAL BUILDING • 0.72 Acres
      216 Price Pl, Madison, WI 53705-3242
      View Details
    • Value Estimation
      $2,620,000
      12,921 SF

      6701 Mineral Pt Rd

      RETAIL STORES (PERSONAL SERVICES) • 12,921 SF
      6701 Mineral Pt Rd, Madison, WI 53705-4241
      View Details
    • Value Estimation by Request
      1,350 SF

      3809 Mineral Pt Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,350 SF
      3809 Mineral Pt Rd, Madison, WI 53705-5121
      View Details
    • Value Estimation
      $3,115,000
      11,225 SF

      3313 University Ave

      GROCERY, SUPERMARKET • 11,225 SF
      3313 University Ave, Madison, WI 53705-2136
      View Details

    Similar Nearby for Sale

    • $7,500,000
      24,500 SF

      Class A Mixed-Use Building

      Versatile mixed-use building suitable for various business operations.
      2801 Marshall Ct, Madison, WI 53705
      View Details
    • Contact for pricing
      24,500 SF

      Mixed-Use Property For Sale

      Mixed-use property featuring retail and office spaces available for sale.
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    • $850,000
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      Highlands Wooded Lot Opportunity

      0.76-acre wooded lot in the Highlands neighborhood.
      1003 Hillside Ave, Madison, WI 53705
      View Details
    • $298,000
      67.45 Acres

      67.45 Acres Near Blue Mound Creek

      67.45 acre parcel near Arena, WI with Blue Mound Creek.
      67.45 Sawle Rd, Arena, WI 53705
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    • Contact for pricing

      Prime Redevelopment Opportunity in Madison

      Redevelopment opportunity in the heart of Madison's west side.
      6200 Mineral Point Rd, Madison, WI 53705
      View Details
    • $8,000,000
      24,500 SF

      Madison Office Building Investment Opportunity

      Prime Madison office building, 24,500 SF, 64 parking spaces.
      2801 Marshall Court, Madison, WI 53705
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      180,000 SF

      Class A Office/Medical Building

      Class A office/medical building with retail space and parking.
      4730 Sheboygan Ave, Madison, WI 53705
      View Details
    • $30 SF/Yr

      Retail Space with Drive-Thru Potential

      800 SF retail space with drive-thru potential in Madison.
      5437 University Ave, Madison, WI 53705
      View Details
    • $30 SF/Yr
      800 SF

      Retail Space with Drive-Thru Potential

      800 SF retail space with drive-thru potential and signage.
      5437-5441 University Ave, Madison, WI 53705
      View Details
    • $18 SF/Yr

      Restaurant/Office/Salon Space Available

      Versatile space with existing restaurant infrastructure and redevelopment potential.
      5001 University Ave, Madison, WI 53705
      View Details
    • Contact for pricing

      Madison Yards Mixed-Use Development

      Mixed-use development near Hilldale Mall with retail and office space.
      N Segoe Rd, Madison, WI 53705
      View Details
    • Contact for pricing
      845 SF

      Mixed-Use Retail and Apartment Building

      Mixed-use property with retail suites and apartment units for rent.
      2701 University Ave, Madison, WI 53705
      View Details
    View Listing
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    3609 University Ave
    Madison, WI 53705
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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.

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