522 2Nd StMilwaukee, WI 53203

Property Details for 522 2Nd St

Year built

1951

Lot size

0.93 AC

Property size (Sq ft)

76,642 SF

Zone code

C9F(A)

Property type

Parking lots & garages

APN

361-0786-110

APU

3610786110

Description

This exceptional 1.84-acre development site in Milwaukee's vibrant Westown neighborhood presents a unique investment opportunity. Located at 522 N 2nd St, Milwaukee, WI 53203, this property encompasses two parcels (APN: 3610784100, 3610786110) currently used as surface parking lots, offering significant income potential during the planning phase. The site boasts a prime location, occupying half a city block with frontage on N 2nd St, W Michigan St, and Clybourn St. Its C9F(A) zoning allows for diverse development options, including multifamily residential, office, and hotel uses. The area is experiencing remarkable growth, fueled by major employers like Fiserv, Milwaukee Tool, and Regal Rexnord, along with the forthcoming Iron District MKE, a transformative mixed-use development including an 8,000-seat soccer stadium. This property benefits from exceptional access and connectivity, adjacent to I-794 and within walking distance of public transportation, including bus lines and The Hop streetcar. Proximity to amenities such as food halls, the Riverwalk, and entertainment venues further enhances its appeal. Milwaukee's Downtown Plan 2040 aims to significantly increase downtown's population and employment, positioning this site for substantial long-term growth. The property is offered for sale with 100% ownership. This is an unparalleled chance to capitalize on Milwaukee's dynamic urban revitalization.

• CAP approach

  CAP return

  Valuation

  6%

  $16,146,600

  6.5%

  $14,904,600

  7%

  $13,840,000

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,092,180

  Geo Method

  $10,381,900

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $29,413,000

  Mixed-Use / Specialty

  $14,711,000

  Hospitality / Lodging

  $10,610,100

  Office

  $14,477,300

  Institutional / Educational

  $15,243,300

  Residential Income

  $17,834,700

  Multifamily

  $22,168,600

  Automotive / Energy

  $13,065,700

  Parking / Income-Based Land

  $4,647,570

  Restaurant / Food Service

  $7,351,570

  Healthcare / Senior Housing

  $15,229,900

Location Insight

City

Milwaukee

County

Milwaukee

State

Wisconsin

Latitude

43.0364

Longitude

-87.9126

CBSA code

33340

CBSA name

MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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