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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6602 Westin Dr Madison, WI 53719-5700

    • Apartment buildings
    • 47,011 SF
    • 1.01 lot acres
    OFF-MARKET
    Value Estimations
    $1,430,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0248819
    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

    • Westin Place / Apartment Building
    • Lessner Properties, LLC / Apartment Building / Property Management Company
    • Waterford Management / Property Management Company

    Property Details for 6602 Westin Dr

    Year built
    2001
    Lot size
    1.01 lot acres
    Property size
    47,011 SF
    Zone code
    PD
    Property type
    Apartment buildings
    APN
    0608-122-0128-8
    APU
    60812201288

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,230,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,627,000
      Market price range: $702k - $4.08M

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Dane
    State
    Wisconsin
    Longitude
    -89.4984
    Latitude
    43.0129
    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
    $71,964
    $314,000
    $3,612,000
    $3,926,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $285,000
      2.77 Acres

      511 Commerce Dr

      APARTMENT HOUSE (100+ UNITS) • 2.77 Acres
      511 Commerce Dr, Madison, WI 53719-4927
      View Details
    • Value Estimation
      $630,000
      2.43 Acres

      7601 Raymond Rd

      APARTMENT HOUSE (5+ UNITS) • 2.43 Acres
      7601 Raymond Rd, Madison, WI 53719
      View Details
    • Value Estimation
      $165,000
      2.98 Acres

      7449 Weekend Way

      APARTMENT HOUSE (100+ UNITS) • 2.98 Acres
      7449 Weekend Way, Madison, WI 53719
      View Details
    • Value Estimation
      $1,145,000
      67,872 SF

      48 Waterford Cir

      APARTMENT HOUSE (5+ UNITS) • 67,872 SF
      48 Waterford Cir, Madison, WI 53719-3166
      View Details
    • Value Estimation
      $405,000
      4,436 SF

      2938 Cimarron Trl

      APARTMENT HOUSE (5+ UNITS) • 4,436 SF
      2938 Cimarron Trl, Madison, WI 53719-2409
      View Details
    • Value Estimation
      $1,400,000
      324,920 SF

      7602 Mid Town Rd

      APARTMENT HOUSE (100+ UNITS) • 324,920 SF
      7602 Mid Town Rd, Madison, WI 53719-3423
      View Details

    Similar Nearby for Sale

    • $249,900
      1,184 SF

      West Side Condo with Garage

      Two-bedroom condo with in-unit laundry, garage, and recent upgrades.
      2896 Cimarron Trl, Madison, WI 53719
      View Details
    • $165,000
      590 SF

      West Side Condo with Convenience

      Condo on Madison’s west side, near shopping and entertainment.
      805 Kottke Dr, Madison, WI 53719
      View Details
    • New
      $660,000
      0.27 Acres

      Madison Duplex on Corner Lot

      Side-by-side townhouse-style duplex on a corner lot in Madison, WI.
      6934/6938 Chester Dr, Madison, WI 53719
      View Details
    • $590,000
      0.39 Acres

      Fitchburg Duplex in Verona District

      Turn-key duplex in Fitchburg with strong rental demand and cashflow.
      5302 Williamsburg Way, Madison, WI 53719
      View Details
    • $704,900
      0.26 Acres

      Madison Duplex with Attached Garages

      Side-by-side duplex in Madison, WI with dual driveways.
      6834/6838 Chester Dr, Madison, WI 53719
      View Details
    • $240,000
      945 SF

      West Side Condo with Upgrades

      Well-maintained 1-bed, 1-bath condo with upgrades and tree line views.
      8253 Mayo Dr, Madison, WI 53719
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      149,369 SF

      Madison Retail Space For Lease

      Prime Madison retail space, multiple units available.
      6518 Milwaukee St, Madison, WI 53719
      View Details
    • $17 SF/Yr
      24,952 SF

      Madison Executive Office Space

      Prime Madison Office, 4,062-24,952 SF
      3 Point Pl, Madison, WI 53719
      View Details
    • $14 SF/Yr
      21,500 SF

      Fitchburg Office Space Available

      Modern office suites, flexible layouts.
      2923 Marketplace Dr, Fitchburg, WI 53719
      View Details
    • $15 SF/Yr
      6,936 SF

      Madison Office Building: Prime Investment Opportunity

      Multiple suites available, high-value potential.
      6501 Watts Rd, Madison, WI 53719
      View Details
    • $7 SF/Yr
      30,600 SF

      Madison Industrial Flex Space

      Two buildings, flexible space available.
      3700 Commerce Dr, Madison, WI 53719
      View Details
    • $15 SF/Yr
      1 SF

      Madison Executive Office Suites

      Prime Madison Office Space, Flexible Layouts
      401 Charmany Dr, Madison, WI 53719
      View Details
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    6602 Westin Dr
    Madison, WI 53719-5700
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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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