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Property profile & analytics
OFF-MARKET
Estimated value
$815,000
Turn key restaurants
661 State St Madison, WI 53703-1049
Entity Owned
11-yr Hold
Free & Clear
Property ID
US92-1159274
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1955
Total area
2,574 SF
Lot
0.07 ac (2,838 SF)
Zoning code
DC
APN
0709-232-0306-5
UPID
US92-1159274
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
-
Starbucks Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$505k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$750k
Blend (final)
Blend
$815k
Owner & transaction history
661 State Street LLC · 11 yrs held
661 State Street LLC
since 2015
4 recorded transactions
Zoning & alternative use
DC · Madison, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.3M
+50.8%
Retail stores
$905,000
+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
$505,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$860,000
Current use
COMMERCIAL (GENERAL)
$1,295,000
Change: +51% · Conversion: Easy
RETAIL STORES
$905,000
Change: +5% · Conversion: Easy
AUTO REPAIR, GARAGE
$725,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$815k
Range $734k – $897k · ±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
$21,926
Tax year 2022
Assessed value
$1,205,000
Assessed 2023
Previous assessed
$1,036,000
+16.3% YoY
Effective rate
1.82%
On assessed value
Assessed land
$156,000
Assessed improvement
$1,049,000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1955
Heating
NONE
Stories
2
Total area
2,574 SF
Lot
0.07 ac (2,838 SF)
Zoning code
DC
APN
0709-232-0306-5
UPID
US92-1159274
Jurisdiction
DANE
Zoning & alternative use
DC · Madison, WI
Zoning DC · permitted uses
DC · 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.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$860,000
COMMERCIAL (GENERAL)
Est. value
$1.3M
RETAIL STORES
Est. value
$905,000
AUTO REPAIR, GARAGE
Est. value
$725,000
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
1955
Heating
NONE
Stories
2
Lot
0.07 ac
Current owner
From public records · entity-resolved
661 State Street LLC
Entity
Free & Clear · 11 yrs held
Mailing address
514 TROY DR, MADISON, WI 53704-1575
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 9, 2015
—
661 State Street LLC
Hoeksema,katherine
Quit Claim Deed
related
—
Dec 29, 2014
—
Katherine|findley-anderson Krista Hoeksema
Findley Jean K
Quit Claim Deed
related
—
Sep 9, 2009
$1,137,500
Jean K Findley
H M Ericson
Quit Claim Deed
related
—
Oct 7, 2008
—
H M Ericson
Ericson Herta M Trust
Quit Claim Deed
—
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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