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Property profile & analytics
OFF-MARKET
Estimated value
$9,885,000
Apartment buildings
489 Commerce Dr, Madison, WI 53719-4937
Individually Owned
9-yr Hold
~
Est. High Equity
Property ID
US92-0860311
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2017
Total area
119,824 SF
Lot
1.85 ac (80,542 SF)
Zoning code
PD
APN
0708-262-0907-9
UPID
US92-0860311
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
-
Watts Hill Apartments Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.97M
Blend (final)
Blend
$9.89M
Owner & transaction history
Madison West Princton Investor · 9 yrs held
Madison West Princton Investor
since 2016
7 recorded transactions
Zoning & alternative use
PD · 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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$9.89M
Range $8.90M – $10.87M · ±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
$82 / 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
$242,137
Tax year 2022
Assessed value
$14,397,000
Assessed 2023
Previous assessed
$12,197,000
+18.0% YoY
Effective rate
1.68%
On assessed value
Assessed land
$1,200,000
Assessed improvement
$13,197,000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2017
Heating
NONE
Stories
4
Units
80
Total area
119,824 SF
Lot
1.85 ac (80,542 SF)
Zoning code
PD
APN
0708-262-0907-9
UPID
US92-0860311
Jurisdiction
DANE
Zoning & alternative use
PD · Madison, WI
Zoning PD · permitted uses
PD · 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.
Building & site characteristics
From public records
Year built
2017
Heating
NONE
Stories
4
Units
80
Lot
1.85 ac
Current owner
From public records · entity-resolved
Madison West Princton Investor
Individual
Mailing address
2428 PERRY ST, MADISON, WI 53713-2449
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 13, 2020
—
Watts Hill Apartments LLC
—
Deed
related
—
Mar 31, 2017
—
Watts Hill Apartments LLC
—
Deed
related
$10,400,000 · First Busn Bk
Dec 27, 2016
$105,900
Madison West Princton Investor
Madison West Princeton Investo
Warranty Deed
—
Dec 27, 2016
$1,200,000
Watts Hill Apartments LLC
Madison West Princeton Investo
Warranty Deed
—
Mar 9, 2007
—
Madison West Princeton Investo
Raymond,c J
Warranty Deed
—
Feb 21, 2007
—
C J Raymond
Madison West Princeton Lodging
Warranty Deed
—
—
—
Watts Hill Apartments LLC
—
Deed Of Trust
related
$10,400,000 · First Busn Bk
—
—
Watts Hill Apartments LLC
—
Loan Modification
related
—
—
—
Madison West Princeton Investo
—
Deed Of Trust
related
$900,000 · State Bank Of Cross Plains
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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