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Property profile & analytics
OFF-MARKET
Estimated value
$27,270,000
Grocery and convenience stores
3801 Washington Ave Madison, WI 53704-3648
Individually Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US92-3359501
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1969
Total area
104,000 SF
Lot
11.21 ac (488,090 SF)
Zoning code
CC-T WP-15
APN
0810-332-0909-1
UPID
US92-3359501
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
-
Hy-Vee Wine & Spirits (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
Hy-Vee Floral (Bike/Boat/Book/etc) Store Florist
-
Wahlburgers @ Hy-Vee Restaurant
-
Hy-Vee Grocery Store Take-out & Catering Catering Service
-
Danielle Lammert Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$22.89M
Comparable Approach
Comparable
$26.40M
Blend (final)
Blend
$27.27M
Owner & transaction history
Madison Washington Zc Essential Dst · 3 yrs held
Madison Washington Zc Essential Dst
since 2022
2 recorded transactions
Zoning & alternative use
CC-T WP-15 · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$24,795,000
6.5%
$22,885,000
7%
$21,250,000
Alternative Use
Use
Estimation
RETAIL STORES
$36,505,000
Current use
RESTAURANT
$34,660,000
Change: -5% · Conversion: Easy
COMMERCIAL (GENERAL)
$29,615,000
Change: -19% · Conversion: Easy
AUTO REPAIR, GARAGE
$29,315,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$27.27M
Range $24.54M – $30.00M · ±10%
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
$262 / 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
$162,699
Tax year 2022
Assessed value
$25,757,500
Assessed 2023
Previous assessed
$8,215,000
+213.5% YoY
Effective rate
0.63%
On assessed value
Assessed land
$2,150,000
Assessed improvement
$23,607,500
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1969
Heating
NONE
Buildings
2
Stories
1
Total area
104,000 SF
Lot
11.21 ac (488,090 SF)
Zoning code
CC-T WP-15
APN
0810-332-0909-1
UPID
US92-3359501
Jurisdiction
DANE
Zoning & alternative use
CC-T WP-15 · Madison, WI
Zoning CC-T WP-15 · permitted uses
CC-T WP-15 · 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.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$36.5M
RESTAURANT
Est. value
$34.7M
COMMERCIAL (GENERAL)
Est. value
$29.6M
AUTO REPAIR, GARAGE
Est. value
$29.3M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1969
Heating
NONE
Stories
1
Buildings
2
Lot
11.21 ac
Current owner
From public records · entity-resolved
Madison Washington Zc Essential Dst
Individual
Mailing address
5820 WESTOWN PKWY, WEST DES MOINES, IA 50266-8223
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 3, 2022
$25,757,600
Madison Washington Zc Essential Dst
Hy-vee INC
Special Warranty Deed
$22,400,000 · Central Lending Group LLC
May 5, 2008
$6,850,000
Hy-vee INC
3800 East Wa Avenue LLC
Grant Deed
—
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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