2926 Atwood Ave, Madison, WI

Multi-Use for Sale - $1,280,000 - 10,214 Sq. Ft. on 0.35 acres


Agent Info

Gary Birrenkott

Property Info

CIMLS#1113174
Location
  2926 Atwood Ave
  Madison WI 53704
UpdatedJune 23rd, 2022
TypeMulti-Use
Price$1,280,000
Building10,214 Sq. Ft.
Land0.35 acres

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Property Description

Mixed-use building (former Birrenkott Appliance, Inc) located on a very highly visible corner of a major thoroughfare on the East Side of Madison WI – corner of Atwood Avenue and S Fair Oaks Avenue - quite possibly the most sought after neighborhood in Madison and Dane Co. Continuous 60 linear feet of 8.5’ tall sidewalk windows provide much natural light and street visibility. Features 4 smaller apartments above with ample off-street parking. Three parcels for sale include Retail Store with basement and 2nd floor apartments plus two Buildable Parking Lots. 3-parcel total = 15,394 sq ft. Corner Lot.

Former appliance store operated for 50+ years to retirement at the prime corner of Atwood Ave and S Fair Oaks Ave on Madison’s beautiful east side. Close proximity to many destinations that creates a vibrant, bustling area. The creative Atwood Avenue neighborhood has transformed from a blue-collar district into a hip and vibrant community. Many consider this east-side neighborhood one of Madison’s most innovative due to its numerous funky shops, ethnic restaurants, and cultural opportunities. The attractiveness of the neighborhood is its small-town atmosphere, where residents can work, shop, and play all within a short walk or drive from home. It is a neighborhood that strives to maintain a diverse population, a variety of housing opportunities, and a high quality of living for all its residents, making this neighborhood a highly desirable place to live and do business.

The City of Madison in partnership with the City of Monona have plans to reconstruct Atwood Avenue from Fair Oaks Avenue to Cottage Grove Road. The project will include new pavement, ADA-compliant curb and gutter, sidewalk, water/sewer, and street lighting. In addition to the roadway improvements, the project will include a 10-foot wide bike path with an adjacent 5-foot wide pedestrian path that will extend the majority of the project limits adjacent to Atwood Avenue including a new pedestrian bridge over Starkweather Creek parallel to the roadway bridge. Construction planned for 2025, City is currently trying to move it up to 2023.

Mixed-use building with retail, apartments and ample off-street parking located at the prime corner of Atwood Ave and S Fair Oaks Ave on Madison’s beautiful east side. Former appliance store operated for 50+ years to retirement shows the longstanding success and future potential of the site. Close proximity to many destinations that creates a vibrant, bustling area:

• Lowell Elementary School

• Olbrich Botanical Gardens

• Olbrich Park & Beach / Lake Monona

• Capital City Bike Path

• Madison Area Technical College

• Capital Square Downtown

• Aldo Leopold Nature Center

• The Goodman Community Center

• The Barrymore Theatre


Financials

Land Assessment (2021): $151,000 (all three parcels)

Improvement(s) Assessment (2021): $459,000 (all three parcels)

Total Assessment (2021): $610,000

2021 Taxes 2926 Atwood Ave: $10,921.49

2021 Taxes 234 S Fair Oaks Ave: $946.43

2021 Taxes 238 S Fair Oaks Ave: $989.43

2021 Taxes TOTAL: $12,857.35