528 Wells Street Delafield, WI 53018
Multi-tenant retail and office building with street-level entrances, tall ceilings, and updated mechanical systems in downtown Delafield.
Property Features for 528 Wells Street
General Information
- Standard status
- Active
- Size
- 16,744 SF
- Property subtype
- Retail
Listing office Mid America Real Estate Milwaukee (414) 390-1402
Listing date Jun 29, 2026
Source Midamericagrp
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Investment Insights
Based on property information with market context.
Located in historic downtown Delafield, the property sits along Delafield’s signature street and is positioned within a walkable, supply-constrained downtown environment described in the offering. The building is currently occupied by a mix of retail and service concepts, including a Wheel & Sprocket bike store, Bartelt Remodeling, Simply Nastural Cleaners, Boutique Wealth Management, and Fairy Face Aesthetic. Ample parking adjacent and shared parking support convenient access for customers and tenants.
For investors or owner-users seeking a downtown retail asset with established tenant variety and preserved architectural character, this property offers multiple entry points and modernized building systems. It is well suited to operators looking for a distinctive street-level setting for retail or office use, with customer convenience supported by nearby parking.
Key Highlights
- 16,744 SF multi‑tenant retail and office building in downtown Delafield
- Multiple street‑level entrances for flexible tenant configurations
- Tall ceilings with exposed brick and original wood detailing
Local Financial Insights For Retail
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 | $351.6k | $21.00 |
| − Vacancy | −$12.7k | −$0.76 |
| EGI | $339.0k | $20.24 |
| − OpEx | −$101.7k | −$6.07 |
| NOI | $237.3k | $14.17 |
