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Key Details
Sold Price $2,550,000
Property Type Commercial
Sub Type Retail,Office(s),Restaurant/Supper Club,Beauty/barber shop,Shopping Center
Listing Status Sold
Purchase Type For Sale
Square Footage 26,883 sqft
Price per Sqft $94
MLS Listing ID 1961451
Sold Date 09/22/23
Year Built 1985
Annual Tax Amount $42,106
Tax Year 2022
Lot Size 1.540 Acres
Acres 1.54
Property Sub-Type Retail,Office(s),Restaurant/Supper Club,Beauty/barber shop,Shopping Center
Property Description
First time on the market since 1992, and family-owned since. Up for sale is a rare opportunity to purchase Gammon Place Shopping Center, a mix of first floor retail, and 2nd floor offices. The property is located in one of the most desirable areas in the Madison, WI market being just due south from West Towne Mall, south of the Beltline Hwy (Hwy 12 & 18) on the Gammon Road exit. If West Towne Mall, Walmart, and Woodman's Market are within minutes of a walk, you know there is something special. To some, there is potential to raise rents and add value to the property; to others, maybe a land bank view where down the road it could be a good redevelopment site; or, maybe an opportunity for someone to owner occupy part of the building for their business. NDA required for more info. 8% Cap Rate
Location
State WI
County Dane
Zoning PD
Rooms
Basement Partial
Interior
Heating Natural Gas
Cooling Forced Air, Central Air
Exterior
Roof Type Composition/Fiberglass
Building
Sewer Municipal Water
New Construction N
Others
Special Listing Condition Arms Length
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