Downtown Milwaukee Restaurant and
For Sale
$2,600,000
1100 N Vel R. Phillips Ave Milwaukee Wi 53203, Milwaukee, WI 53203
Downtown Milwaukee Restaurant and Bar
Property Size10,000 SF
Price / SF$260
Days on Market172
Property Features for 1100 N Vel R. Phillips Ave Milwaukee Wi 53203
General Information
Standard status
Active
Property type
Bars & Pubs, Restaurants
Size
10,000 SF
Added: May 11
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is an opportunity to acquire a fully operational, turnkey restaurant and bar in the heart of downtown Milwaukee’s high-traffic entertainment district. Established in 2013, the business has a strong multi-year track record of success and is currently open and running with all licenses active. The property is situated in one of Milwaukee’s busiest entertainment corridors with consistent foot traffic from tourism, events, and a growing residential base. It has a proven history of over $2,000,000 in annual revenue, diversified across dining, bar sales, private events, and seasonal programming. The property size is 10000.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,670
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,453,400
$2.5M
Cap Rate 7%
$1,752,429
$1.8M
Cap Rate 9%
$1,363,000
$1.4M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$174.0K $17.40/SF
− Vacancy
−$10.4K −$1.04/SF
EGI
$163.6K $16.36/SF
− OpEx
−$40.9K −$4.09/SF
NOI
$122.7K $12.27/SF
Area
Milwaukee, WI
Vacancy
6.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,453,400
Cap Rate 7%
$1,752,429
Cap Rate 9%
$1,363,000
Alternative Uses
Best Use
Specialty Retail
$1.75M
$1.53M – $2.04M
NOI $122,670 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $168,216 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,160
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53203, WI
2,180
Population
1,661
Households
1.3
Avg Household Size
29
Median Age
74%
College-Educated
100%
High-School Grad
0.4 sq mi
ZIP Area
5,450
Density / Sq Mi
$84,005
Median Household Income
$75,244
Median Earnings
$1,671
Median Rent
$334,600
Median Home Value
Market
Vacancy Rate% for Retail in Milwaukee, WI
Similar Off Market Nearby
- The Yard — 500 W Florida St, Milwaukee, WI 53204
- Club 219 — 219 s 2nd st, milwaukee, wi 53204
- Black Sheep MKE — 216 S 2nd St, Milwaukee, WI 53204
- TIMESHEET TAPHAUSE — 247 W Freshwater Way, Milwaukee, WI 53204
- O'Lydia's Bar and Grill — 338 S 1st St, Milwaukee, WI 53204
Frequently Asked Questions
What type of property is this?
Bar & Pub - Downtown Milwaukee Restaurant and Bar
Where is this bar & pub located?
The property is located at 1100 N Vel R. Phillips Ave Milwaukee Wi 53203 Milwaukee, WI.
What is the asking price?
The asking price for this property is $2,600,000.
