Metro Place Apartment Land - Lot 6

Metro Place Dev Site 6 Sprecher Rd Madison, WI 53718

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FOR SALE Incentives
Property Type:
Other Land
Amount:
$1,375,000
Last Verified:
May 23, 2017

Highlights

  • Zoning, roads, utilities & retention in place
  • Land for 100 apartments & commercial
  • Area with lowest Dane County apartment vacancy
  • Over 12,000 cars per day on Sprecher
  • Madison Metro bus stop at corner

Description

Land approved for 100 apartment units plus commercial. Metro-Place is a mixed use development in a rapidly growing area. 3 acre site is fully improved: roads, utilities & storm water retention. Phase 1 and soil tests on file, fully entitled w/GDP zoning in place. This area has one of the lowest apartment vacancy rates in the Madison area, per MG&E survey. 112 condo units next door are sold. 3 acre site next door is approved for 94 apartment units of 55+. New Fire Station now open across the street, Steamfitters are building a 62,500 sf training center nearby. Bus stop.

Located just south of Interstate 94 near the corner of Sprecher Rd and Milwaukee St. Sprecher Rd is a North/South feeder that is going to 4 lanes and has over 12,000 cars/day. Thousands of new residential units have been occupied in the neighborhood in the past few years.

Lot Size: 3.14 acres

Map of Metro Place Dev Site 6 Sprecher Rd, Madison, WI, 53718

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Real Estate Incentives (What is this?)
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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.