Haymarket Square Redevelopment
424 W Cherry St Milwaukee, WI
For Sale
Contact for pricing
Large site near downtown Milwaukee with redevelopment potential.
Property Size46,767 SF
Lot Size2.06 Acres
Price / SF$70.56
Days on Market1143
Property Features for 424 W Cherry St
General Information
- Standard status
- Active
- Size
- 46,767 SF
- Lot size
- 2.06 Acres
- Property subtype
- INDUSTRIAL
Listing Agency:
The Barry Company
(414) 803-4988
Listed By:
David L. Barry, SIOR, CCIM · License #4698290
(414) 803-4988
Source:
Moodyscre
Added: Jun 8, 2023
Changed: Jul 6
Last Checked: Jul 15 at 1:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Barry Company
Investment Insights
Based on property information with market context.
This property, located in Haymarket Square and overlooking downtown Milwaukee, presents a redevelopment opportunity. The site features high ceiling heights on two levels and includes a large, fenced-in parking area. It offers quick access to the interstate and is situated blocks from the Bucks Deer District. The property is also located one block from the new $300M Milwaukee Public Museum. The property contains 46,767 square feet of space.
Key Highlights
- Rare, Large Site In Haymarket Square
- Huge On‑Site Fenced‑In Parking Area
- Just 1 Block To The New $300M Milwaukee Public Museum
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $255.8k | $5.47 |
| − Vacancy | −$12.5k | −$0.27 |
| EGI | $243.3k | $5.20 |
| − OpEx | −$36.5k | −$0.78 |
| NOI | $206.8k | $4.42 |
46,767 SF · lease $5.47/SF/yr · vacancy 4.90% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$2.95M
$2.58M – $3.45M
NOI $206,788 @ 7.0% cap · market cap 6.27%
Second Best
Industrial
$2.43M
$2.13M – $2.84M
NOI $170,296 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$11.24M
$9.83M – $13.11M
NOI $786,696 @ 7.0% cap · market cap 23.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Transit Express
Freight Service
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FAQs
What type of property is this?
Warehouse - Large site near downtown Milwaukee with redevelopment potential.
Where is this warehouse located?
The property is located at 424 W Cherry St Milwaukee, WI.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Rare, Large Site In Haymarket Square; Huge On‑Site Fenced‑In Parking Area; Just 1 Block To The New $300M Milwaukee Public Museum
