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Property profile & analytics
OFF-MARKET
Estimated value
$620,000
Medical Office Space
8002 Watts Rd Madison, WI 53719-3811
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US92-0298062
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
2009
Total area
6,138 SF
Lot
1.09 ac (47,568 SF)
Zoning code
PD
APN
0708-262-0903-7
UPID
US92-0298062
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
-
Byce and Worman Family Dentistry Dental Office
-
Dr. Bradley Byce, DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$600k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$643k
Blend (final)
Blend
$620k
Owner & transaction history
Watts Road Investors IV LLC · 10 yrs held
Watts Road Investors IV LLC
since 2015
3 recorded transactions
Zoning & alternative use
PD · Madison, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$975,000
+67.3%
Office building
$760,000
+30.4%
Commercial (general)
$700,000
+20.6%
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
$600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$580,000
Current use
AUTO REPAIR, GARAGE
$975,000
Change: +67% · Conversion: Difficult
OFFICE BUILDING
$760,000
Change: +30% · Conversion: Easy
COMMERCIAL (GENERAL)
$700,000
Change: +21% · Conversion: Easy
RETAIL STORES
$600,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$620k
Range $558k – $682k · ±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
$101 / 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
$25,187
Tax year 2022
Assessed value
$1,519,000
Assessed 2023
Previous assessed
$1,269,000
+19.7% YoY
Effective rate
1.66%
On assessed value
Assessed land
$288,000
Assessed improvement
$1,231,000
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
2009
Heating
NONE
Stories
1
Total area
6,138 SF
Lot
1.09 ac (47,568 SF)
Zoning code
PD
APN
0708-262-0903-7
UPID
US92-0298062
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.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$580,000
AUTO REPAIR, GARAGE
Est. value
$975,000
OFFICE BUILDING
Est. value
$760,000
COMMERCIAL (GENERAL)
Est. value
$700,000
RETAIL STORES
Est. value
$600,000
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
COMMERCIAL (GENERAL)
RETAIL STORES
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
1
Lot
1.09 ac
Current owner
From public records · entity-resolved
Watts Road Investors IV LLC
Entity
Mailing address
8002 WATTS RD, MADISON, WI 53719-3811
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 22, 2015
$883,400
Watts Road Investors IV LLC
Watts Road Investors LLC
Warranty Deed
$1,232,500 · Monona State Bank
Jul 28, 2009
—
Watts Road Investors I LLC
—
Trustees Deed
related
$1,950,000 · State Bank Of Cross Plains
Jul 13, 2009
$713,700
Watts Road Investors I LLC
Princeton Club West Real Estat
Warranty 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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