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    Haymarket Square Redevelopment Opportunity Title is generated by Realmo AI

    424 W Cherry St, Milwaukee, WI

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    Large site near downtown Milwaukee with redevelopment potential.

    Type:INDUSTRIAL
    Property size:
    46,767 SF
    Lot size:
    2.06 Acres
    Price / SF:
    $70/SF
    Added:
    Jun 8, 2023
    Days on Market:
    1098
    Last Refresh:
    May 19 at 10:20 pm

    Property Features for 424 W Cherry St

    General Information

    Standard status
    Active
    Size
    46,767 SF
    Lot size
    2.06 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    David L. Barry

    Listing agent David L. Barry

    Listing office The Barry Company

    Listing date Jun 8, 2023

    Source Moodyscre

    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

    HighLights

    • Rare, Large Site In Haymarket Square
    • Huge On‑Site Fenced‑In Parking Area
    • Just 1 Block To The New $300M Milwaukee Public Museum
    • Blocks To The Buck’s Deer District
    • High Ceiling Heights on 2 Levels
    • Quick Interstate Access

    Overview

    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.

    Local 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 (±1% cap)
    NOI $206,788 @ 7.0% cap · market cap 6.27%
    Second Best
    Industrial
    $2.43M
    $2.13M – $2.84M (±1% cap)
    NOI $170,296 @ 7.0% cap · market cap 5.16%
    Theoretical Best
    Office A
    $11.24M
    $9.83M – $13.11M (±1% cap)
    NOI $786,696 @ 7.0% cap · market cap 23.84%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Transit Express Freight Service

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Law Firm Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

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    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9169
    Latitude
    43.0502

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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
    (414) 803-4988 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    David L. Barry
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