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    Property profile & analytics

    660 Washington Ave Madison, WI 53703-4703

    • Office buildings
    • 23,725 SF
    • 2.41 lot acres
    OFF-MARKET
    Value Estimations
    $3,850,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0627912
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • U.S. Secret Service / Federal Government Office
    • Aveanna Home Health / Home Health Care Service / Nursing Agency
    • Fiduciary Partners Trust Company / Bank / Credit Union
    • Renning, Lewis & Lacy, S.C. / Law Firm
    • Tamara I. Schlessinger Nijhawan, LCSW / Foster Care Service / Social Service Agency

    Property Details for 660 Washington Ave

    Year built
    1990
    Lot size
    2.41 lot acres
    Property size
    23,725 SF
    Zone code
    PD
    Property type
    Office buildings
    APN
    0709-232-3004-2
    APU
    70923230042

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $5,485,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $4,555,000
      Change: -17% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.3956
    Latitude
    43.0677
    CBSA code
    31540
    CBSA name
    MADISON, WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $177,758
    $2,625,000
    $6,460,900
    $9,085,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,640,000
      13,333 SF

      150 Gilman St

      PROFESSIONAL BUILDING (MULTI-STORY) • 13,333 SF
      150 Gilman St, Madison, WI 53703-1499
      View Details
    • Value Estimation
      $1,265,000
      5,786 SF

      433 Washington Ave

      PROFESSIONAL BUILDING (MULTI-STORY) • 5,786 SF
      433 Washington Ave, Madison, WI 53703-3482
      View Details
    • Value Estimation
      $855,000
      5,766 SF

      1444 Washington Ave

      PROFESSIONAL BUILDING (MULTI-STORY) • 5,766 SF
      1444 Washington Ave, Madison, WI 53703-3009
      View Details
    • Value Estimation by Request
      2,904 SF

      2 Carroll St

      PROFESSIONAL BUILDING (MULTI-STORY) • 2,904 SF
      2 Carroll St, Madison, WI 53703-3381
      View Details
    • Value Estimation
      $1,935,000
      16,000 SF

      15 Fairchild St

      PROFESSIONAL BUILDING (MULTI-STORY) • 16,000 SF
      15 Fairchild St, Madison, WI 53703
      View Details
    • Value Estimation
      $1,180,000
      5,469 SF

      202 State St

      PROFESSIONAL BUILDING (MULTI-STORY) • 5,469 SF
      202 State St, Madison, WI 53703-5000
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      18,308 SF

      Downtown Madison Office Investment Opportunity

      18,308 SF office space in downtown Madison, Wisconsin.
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    • Contact for pricing
      10,512 SF

      Two-Story Office Building with Parking

      Two adjacent parcels with office building and parking lot.
      551 W Main St, Madison, WI 53703
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    • $2,200,000
      6,237 SF

      Renovated Single Tenant Office Building

      6,158 SF office building, renovated in 2020, long-term tenant.
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      View Details
    • New
      $1,600,000

      Historic Office Building in Madison

      Charming office building in downtown Madison, close to Lake Mendota.
      401 Wisconsin Ave, Madison, WI 53703
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    • $1,500,000

      Historic Willy Street Commercial Building

      Mixed-use building on Willy Street with office and residential spaces.
      1053 Williamson St, Madison, WI 53703
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    • $1,500,000
      5,400 SF

      Historic King House, Madison WI

      Mixed-use investment; prime downtown location.
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    Similar Nearby for Lease

    • Contact for pricing
      19,410 SF

      New Construction Office Space Available

      Class A office building in Cap East District for rent.
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    • Contact for pricing
      1,923 SF

      Downtown Madison Renovated Office Space

      Modern, renovated office space in downtown Madison near Capitol Square.
      316 W Washington Ave, Madison, WI 53703
      View Details
    • $4,200 /Mo
      250 SF

      Madison Executive Office Suites

      Capitol Square Offices, Fully Furnished
      30 Mifflin St, Madison, WI 53703
      View Details
    • $32 SF/Yr
      8,620 SF

      Madison Capitol Square Restaurant/Bar

      Prime Madison location, 8,620 sq ft, two stories.
      7 Main St, Madison, WI 53703
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    • $25 SF/Yr
      159,000 SF

      Madison Retail Space - Capitol Square

      Prime Madison retail space, 3,451 sq ft.
      216 Pinckney St, Madison, WI 53703
      View Details
    • $18 SF/Yr
      3,684 SF

      Madison Office Space For Rent

      Office space available for lease in Madison, Wisconsin.
      654-698 W Washington Ave, Madison, WI 53703
      View Details
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    660 Washington Ave
    Madison, WI 53703-4703
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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