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Property profile & analytics
FOR LEASE
Office buildings

406 Science Dr Madison, WI 53711

11,500 SF 5.43 ac lot Built 1989
Entity Owned 2-yr Hold Free & Clear
Property ID
US92-0414030
Property summary
AI-generated overview

Park West I, a Class A office building located at 406 Science Dr, Madison, WI 53711, offers exceptional office space in the University Research Park. This four-story building, totaling 52,353 square feet, boasts a park-like setting on 5.4 acres of land, providing ample free parking for 222 vehicles. Built in 1989, the property features two elevators and is conveniently situated at the corner of Mineral Point Road and Whitney Way. Suites range from a minimum of 1,979 square feet to a maximum contiguous space of 6,033 square feet, catering to various business needs. The building is undergoing continuous improvements to enhance service, performance, and energy efficiency. Its location offers easy access to numerous restaurants and shopping options, and is within a 15-minute drive of downtown Madison, Greenway Station, Middleton, Verona, and Cross Plains. The property is ideal for businesses seeking a prestigious address in a thriving, amenity-rich environment. The building accommodates multiple tenants and is suitable for executive, traditional, and medical office uses. This is a rare opportunity to secure space in a highly sought-after location.

Property profile
Verified
Property type Office buildings
Use group PROFESSIONAL BUILDING (MULTI-STORY)
Year built 1989
Total area 11,500 SF
Lot 5.43 ac (236,661 SF)
Zoning code RMX
APN 0709-301-0701-0
UPID US92-0414030
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
  • Prosthetic Dental Associates - Dr. Kelly A. Beck, Dr. Paul J. Correll & Dr. Alicia Estrella Dental Office Physician
  • American College-Prsthdntsts: Correll Paul J DDS Dental Office
  • Rogers Behavioral Health Crisis Center Medical Clinic
  • Celena D​​​​​​​​​​​​um​​​​​​​​​​​​​​​ps​​​​​​​​​​​tе​​​​​​​​​​​​​​​rs General Contractor Waste Management Facility
  • Medical Art Resources,Inc. Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$3.19M
Comparable Approach Comparable
$1.61M
Blend (final) Blend
$2.37M
Owner & transaction history
City Of Madison · 2 yrs held
City Of Madison
since 2024
7 recorded transactions
2024
Price N/A
2019
Price N/A
2018
$6.1M
2011
Price N/A
2011
$2.5M
2010
$2.0M
1969
Price N/A
Zoning & alternative use
RMX · Madison, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

ntial - Planned Mixed-Use and Commercial Districts LMX: Limited Mixed-Use NMX: Neighborhood Mixed-Use TSS: Traditional Shopping Street MXC: Mixed-Use Center CC-T: Commercial Corridor - Transitional CC: Commercial Center RMX: Regional Mixed-Use THV: Tiny House Village Downtown and Urban Districts DC: Downtown Core UOR: Urban Office Residential UMX: Urban Mixe…

Zone name Regional Mixed Use District
General category MIXED_USE
Zone area 531.23 ac
Top alternative use upside
Restaurant $3.8M +44.2%
Commercial (general) $3.4M +27.2%
Auto repair, garage $3.2M +21.9%
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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