140 1St StMilwaukee, WI 53204

Property Details for 140 1St St

Year built

2007

Lot size

0.61 AC

Property size (Sq ft)

28,500 SF

Zone code

IM

Property type

Office buildings

APN

428-0972-000

APU

4280972000

Description

This exceptional three-story, 28,779 square foot Class B multi-tenant building presents a compelling investment opportunity in the heart of downtown Milwaukee, Wisconsin. Built in 2007, the property boasts a desirable location at 140 S 1st St, 53204, and features a mix of established tenants including a bank, chiropractic office, furniture retailer, and a restaurant, currently operating at 80% occupancy. The building offers a substantial 25,911 square feet of net rentable space, priced at $156.19 per square foot, with a total asking price of $4,495,000. Ample parking is a key feature, including 19 underground spaces and 23 surface spaces, plus 15 additional offsite spaces within a block. The property sits on a 0.609-acre lot and benefits from IM, Industrial-Mixed Use zoning, allowing for flexibility and potential future development. Currently, there is approximately 1,854 square feet of available retail space on the first floor and approximately 2,326 square feet of available office space on the second floor, offering potential for increased revenue. The building features exterior signage opportunities, subject to municipal approval. Lease terms are NNN, with rent bumps included. This property offers a strong cash flow with significant upside potential. The property's APN is 4280972000.

• CAP approach

  CAP return

  Valuation

  6%

  $5,146,014

  6.5%

  $4,750,166

  7%

  $4,410,868

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,893,411

  Geo Method

  $3,712,125

• Alternative Use

  Use

  Valuation

  Residential

  $5,890,206

  Hospitality

  $5,395,397

  Educational

  $4,488,907

  Medical

  $4,643,288

  Retail

  $6,982,744

Location Insight

City

Milwaukee

County

Milwaukee

State

Wisconsin

Latitude

43.0299

Longitude

-87.9103

CBSA code

33340

CBSA name

MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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