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Property profile & analytics
OFF-MARKET
Estimated value
$20,385,000
Office buildings
5602 Research Park Blvd Madison, WI 53719-1206
Entity Owned
17-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US92-1278913
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING (MULTI-STORY)
Year built
2009
Total area
100,661 SF
Lot
4.24 ac (184,694 SF)
Zoning code
SE
APN
0709-302-0304-0
UPID
US92-1278913
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
-
Christian G. Cabou Corporate Office
-
University Research Park Research Institute University
-
UW College Courses Online College
-
Aldevron Madison Corporate Office
-
Mirus Bio Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$27.87M
Comparable Approach
Comparable
$21.70M
Blend (final)
Blend
$20.39M
Owner & transaction history
University Research Park INC · 17 yrs held
University Research Park INC
since 2008
5 recorded transactions
Zoning & alternative use
SE · Madison, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
iny 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 Center EC: Employment Campus IL: Industrial - Limited IG: Industrial - General Special Dist…
Zone name
Suburban Employment District
General category
INDUSTRIAL
Zone area
1,653.41 ac
Top alternative use upside
Restaurant
$33.5M
+44.2%
Commercial (general)
$29.6M
+27.2%
Auto repair, garage
$28.4M
+21.9%
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%
$30,190,000
6.5%
$27,865,000
7%
$25,875,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$23,270,000
Current use
RESTAURANT
$33,545,000
Change: +44% · Conversion: Moderate
COMMERCIAL (GENERAL)
$29,590,000
Change: +27% · Conversion: Easy
AUTO REPAIR, GARAGE
$28,370,000
Change: +22% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$19,325,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$20.39M
Range $18.35M – $22.42M · ±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
$203 / 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
$242,753
Tax year 2022
Assessed value
$13,255,000
Assessed 2023
Previous assessed
$12,255,000
+8.2% YoY
Effective rate
1.83%
On assessed value
Assessed land
$980,000
Assessed improvement
$12,275,000
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
Office buildings
Use group
PROFESSIONAL BUILDING (MULTI-STORY)
Status
Off-Market
Year built
2009
Heating
NONE
Stories
4
Total area
100,661 SF
Lot
4.24 ac (184,694 SF)
Zoning code
SE
APN
0709-302-0304-0
UPID
US92-1278913
Jurisdiction
DANE
Zoning & alternative use
SE · Madison, WIZoning SE · permitted uses
SE · Madison, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
iny 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 Center EC: Employment Campus IL: Industrial - Limited IG: Industrial - General Special Districts A: Agricultural UA: Urban Agricultural CN: Conservancy PR: Parks and Recreat
Zone name
Suburban Employment District
General category
INDUSTRIAL
Zone area
1,653.41 ac
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$23.3M
RESTAURANT
Est. value
$33.5M
COMMERCIAL (GENERAL)
Est. value
$29.6M
AUTO REPAIR, GARAGE
Est. value
$28.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$19.3M
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
2009
Heating
NONE
Stories
4
Lot
4.24 ac
Current owner
From public records · entity-resolved
University Research Park INC
Entity
Mailing address
505 S ROSA RD STE #201, MADISON, WI 53719-1277
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
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
Jun 27, 2022
—
University Research Park INC
—
Deed
related
$50,000,000 · Old National Bank
Jul 1, 2019
—
University Research Park Incorporat
—
Deed
related
$3,200,000 · First Business Bank
Jun 1, 2016
—
University Research Park Incorporat
—
Deed
related
$1,360,000 · First Business Bank
Oct 16, 2008
—
University Research Park INC
Board Of Regents/univ/wi System
Quit Claim Deed
—
—
—
University Research Park INC
—
Deed Of Trust
related
$17,316,500 · First Business Bank
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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