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Property profile & analytics
OFF-MARKET
Estimated value
$685,000
Bars & Pubs
418 State St Madison, WI 53703-2023
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US92-0856552
Property profile
Verified
Property type
Bars & Pubs
Use group
BAR, TAVERN
Year built
1928
Total area
2,160 SF
Lot
0.06 ac (2,688 SF)
Zoning code
DC
APN
0709-144-2115-5
UPID
US92-0856552
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
-
Fair Trade Coffee House Cafe & Coffee Shop
-
Representative John Klenke State Government Office
-
PrintWithMe Print Kiosk at Fair Trade Coffee House - Madison (Bike/Boat/Book/etc) Store Printing Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$430k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$629k
Blend (final)
Blend
$685k
Owner & transaction history
420 State Street LLC · 4 yrs held
420 State Street LLC
since 2022
5 recorded transactions
Zoning & alternative use
DC · Madison, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
: 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 Mixed-Use DR1: Downtown Residential 1 DR2: Downtown Residential 2 Employment Dist…
Zone name
Downtown Core
General category
CIVIC_INSTITUTIONAL
Zone area
111.44 ac
Top alternative use upside
Commercial (general)
$1.1M
+50.8%
Retail stores
$760,000
+5.3%
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
$430,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$720,000
Current use
COMMERCIAL (GENERAL)
$1,085,000
Change: +51% · Conversion: Easy
RETAIL STORES
$760,000
Change: +5% · Conversion: Easy
AUTO REPAIR, GARAGE
$610,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$685k
Range $617k – $754k · ±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
$317 / 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
$15,633
Tax year 2022
Assessed value
$1,005,000
Assessed 2023
Previous assessed
$730,000
+37.7% YoY
Effective rate
1.56%
On assessed value
Assessed land
$150,000
Assessed improvement
$855,000
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
Bars & Pubs
Use group
BAR, TAVERN
Status
Off-Market
Year built
1928
Heating
NONE
Buildings
2
Stories
2
Units
1
Total area
2,160 SF
Lot
0.06 ac (2,688 SF)
Zoning code
DC
APN
0709-144-2115-5
UPID
US92-0856552
Jurisdiction
DANE
Zoning & alternative use
DC · Madison, WIZoning DC · permitted uses
DC · Madison, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
: 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 Mixed-Use DR1: Downtown Residential 1 DR2: Downtown Residential 2 Employment Districts TE: Traditional Employment SE: Suburban Employment SEC: Suburban Employment
Zone name
Downtown Core
General category
CIVIC_INSTITUTIONAL
Zone area
111.44 ac
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$720,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES
Est. value
$760,000
AUTO REPAIR, GARAGE
Est. value
$610,000
RESTAURANT Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
1928
Heating
NONE
Stories
2
Buildings
2
Units
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
420 State Street LLC
Entity
Free & Clear · 4 yrs held
Mailing address
241 LANGDON STA, MADISON, WI 53703-1275
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 16, 2022
$375,000
420 State Street LLC
E Osborn Enterprises LLC
Quit Claim Deed
related
—
Feb 7, 2022
$375,000
420 State Street LLC
Darcy L Osborn
Special Warranty Deed
—
Jul 1, 2020
—
Osborn,duane E Fam Gst Trust
Osborn Duane E Fam Gst Trust
Quit Claim Deed
related
—
Oct 31, 2016
—
E Osborn Ents LLC
—
Trustees Deed
related
$250,000 · Oregon Cmnty Bk
Jan 9, 2013
—
Duane E Osborn Family Gst Trust
Osborn,duane E
Quit Claim Deed
related
—
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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