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    275 W Wisconsin Ave Milwaukee, WI 53203

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    For Lease
    $16 SF/Yr ($8,486 /Mo)

    Dynamic Milwaukee hub for work, dining, apartments, and innovation.

    Property size:
    6,365 SF
    Lot size:
    2.36 Acres

    Property Features for 275 W Wisconsin Ave

    General Information

    Size
    6,365 SF
    Lot size
    2.36 Acres

    We can help!

    Listing Contact
    Michael Fitzgerald
    Source: Moodyscre

    Listing Agency: Mid-America Real Estate-Wisconsin, LLC Listing Agent: Michael Fitzgerald

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Milwaukee's Premier Mixed-Use Destination

    The Avenue, located in the heart of Westown, spans three city blocks and integrates Milwaukee’s history with modern amenities. Originally the city’s first luxury hotel in the 1880s, it evolved into an entertainment arcade in 1916 and later a shopping district. Reimagined as a dynamic center of commerce, culture, and community after being acquired in 2018 by local and regional developers, the property now offers over 300,000 square feet of office space, a market hall featuring more than 20 food and drink vendors, and 54 market-rate apartments. The Avenue has attracted a diverse mix of tenants and is intended to be a premier destination where business, lifestyle, and innovation converge. The available space is 6,365 square feet and is suitable for shopping centers, retail, office units, apartment buildings, and multifamily residential income properties.
    Location Intelligence

    Current Use by Public Records

    Walgreens Drug Store Empire Auto Transport Trucking Company celebritystatusmke Barber Shop Walgreens Photo Passport Photo Processor Wok Downtown | Nickel ... Asian Restaurant

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store Pharmacy

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

    Similar Places Nearby

    Coinstar Kiosk | Bitcoin ATM, The Avenue

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9151148
    Latitude
    43.0382354

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    FAQs

    What type of property is this?
    Shopping center - Dynamic Milwaukee hub for work, dining, apartments, and innovation.
    Where is this shopping center located?
    The property is located at 275 W Wisconsin Ave Milwaukee, WI.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: - Premier location in the heart of Westown, Milwaukee.; - Over 300,000 SF of office space.; - World-class market hall with 20+ food and drink vendors.
    (414) 273-4600
    Request Owner's contact information
    275 W Wisconsin Ave Milwaukee, WI 53203
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    275 W Wisconsin Ave Milwaukee, WI 53203
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    We can help!
    Listing Contact
    Michael Fitzgerald
    (414) 273-4600
    Learn more
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