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Key Details
Sold Price $6,625,000
Property Type Commercial
Sub Type Office(s),Warehouse,Other
Listing Status Sold
Purchase Type For Sale
Square Footage 36,113 sqft
Price per Sqft $183
MLS Listing ID 1933926
Sold Date 12/05/22
Year Built 1995
Annual Tax Amount $32,058
Tax Year 2021
Lot Size 3.800 Acres
Acres 3.8
Property Sub-Type Office(s),Warehouse,Other
Property Description
Ideal hands-off investment opportunity with a 6.76% CAP in 2022. Listing includes two buildings, both fully leased (100%) by single tenant through 2026. Ideal investment for a 1031 Exchange and/or passive income generation. Tenant has been in place since its acquisition of Madison based company that previously occupied the buildings. Buildings house specialized office, lab, warehouse, and production processes and equipment. Leases include 3% annual escalations. Tenant maintains property but passes through management fee of 5% of lease total to owner.
Location
State WI
County Dane
Zoning SEC
Rooms
Basement Walk Out/Outer Door
Interior
Heating Natural Gas
Cooling Forced Air, Central Air, Zoned Heating
Exterior
Roof Type Tar/Gravel
Building
Sewer Municipal Water
New Construction N
Others
Special Listing Condition Arms Length
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Bought with Berkshire Hathaway HomeServices True Realty
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