212 W Gorham St
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212 W Gorham St
5,400 SF 100% Leased Retail Building Madison, WI 53703 $1,500,000 ($278/SF)
Executive Summary
Mixed Use Investment Sale Opportunity - 1 Block from State Street - Downtown Madison
Historic King House located at 212 W. Gorham Street in Downtown Madison, Wisconsin. The property is four stories; 1st floor is commercial space leased until 2029 with options to extend; 2nd floor is a three-bedroom apartment, and the 3rd & 4th floors house an eight-bedroom apartment.
The Historic King House was moved to this location from State Street and fully restored/renovated in 2002. Original woodwork maintained throughout. Modern kitchens, fireplaces, central air/heat, laundry in units, spacious living with parlor rooms. Many recent capital upgrades including all new mechanicals in 2002/2019/2022, new windows in 2020, new roof and gutters installed in 2023, commercial rated sprinkler system installed in 2002. All units are separately metered for water, gas, electric and HVAC.
Asking Sales Price is $1,500,00 which represents a 7% cap rate on $149,700 pro forma income. See attached marketing flyer which includes income and expense information with many additional details pertaining to the building and opportunity.
For more information and/or a showing, email mapter@cresa.com or call 608-852-3001.
Historic King House located at 212 W. Gorham Street in Downtown Madison, Wisconsin. The property is four stories; 1st floor is commercial space leased until 2029 with options to extend; 2nd floor is a three-bedroom apartment, and the 3rd & 4th floors house an eight-bedroom apartment.
The Historic King House was moved to this location from State Street and fully restored/renovated in 2002. Original woodwork maintained throughout. Modern kitchens, fireplaces, central air/heat, laundry in units, spacious living with parlor rooms. Many recent capital upgrades including all new mechanicals in 2002/2019/2022, new windows in 2020, new roof and gutters installed in 2023, commercial rated sprinkler system installed in 2002. All units are separately metered for water, gas, electric and HVAC.
Asking Sales Price is $1,500,00 which represents a 7% cap rate on $149,700 pro forma income. See attached marketing flyer which includes income and expense information with many additional details pertaining to the building and opportunity.
For more information and/or a showing, email mapter@cresa.com or call 608-852-3001.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
5,400 SF
Building Class
C
Year Built
1886
Price
$1,500,000
Price Per SF
$278
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.24
Lot Size
0.10 AC
Zoning
PUD
Frontage
92 FT on Gorham St
Amenities
- Bus Line
- Signage
Walk Score®
Walker's Paradise (95)
Bike Score®
Very Bikeable (70)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 0709-144-2120-4 | Improvements Assessment | $1,223,000 |
| Land Assessment | $165,000 | Total Assessment | $1,388,000 |
PROPERTY TAXES
Parcel Number
0709-144-2120-4
Land Assessment
$165,000
Improvements Assessment
$1,223,000
Total Assessment
$1,388,000
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212 W Gorham St
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