Building Details

Year Built 1905

Buildings 1

Building Size 8,057 SF

Tenancy Multi

Listing Agency: Top Hat Auction and Realty LLC

Listed By: Dennis Schramer II Show Phone

Source: Levelupwi

Added: Sep 15 Changed: Oct 26 Last Checked: Oct 7 at 12:58PM

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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 Top Hat Auction and Realty LLC

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Investment Insights

Based on property information with market context.

This 8,057-square-foot flex property combines office and warehouse space within a building constructed in 1905. The improvements include newer roofing throughout and a new AC system, providing updated core building components for the existing configuration.

Located at 1322 S 10th St in Milwaukee’s Walker's Point area, the property is occupied by long-term tenants. New three-year NNN leases are being signed, with one-third of the process complete. The asset offers a blend of office and warehouse functionality suited to continued flex-space use.

Key Highlights

• 8,057‑square‑foot flex office/warehouse building
• Located at 1322 S 10th St in Milwaukee’s Walker's Point area
• Building constructed in 1905

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,625

Cap Rate

4.75%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$712,500 $712.5K

Cap Rate 7%

$508,929 $508.9K

Cap Rate 9%

$395,833 $395.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,057 SF

Gross rent

$44.1K $5.47/SF

− Vacancy

−$2.2K −$0.27/SF

EGI

$41.9K $5.20/SF

− OpEx

−$6.3K −$0.78/SF

NOI

$35.6K $4.42/SF

Area

Milwaukee, WI

Vacancy

4.90%

Lease Rate

$5.47 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$712,500

Cap Rate 7%

$508,929

Cap Rate 9%

$395,833

Alternative Uses

Best Use

Office B

$1.32M

$1.15M – $1.54M (±1% cap)

NOI $92,128 @ 7.0% cap · market cap 12.28%

Second Best

Flex RnD

$1.13M

$991.6K – $1.32M (±1% cap)

NOI $79,326 @ 7.0% cap · market cap 10.58%

Theoretical Best

Office A

$1.94M

$1.69M – $2.26M (±1% cap)

NOI $135,532 @ 7.0% cap · market cap 18.07%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Courage MKE Association / Organization

Suggested Use

Top Pick Electrical Service Nursing Home (Bike/Boat/Book/etc) Store Catering Service HVAC Service Fish Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,808

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 53204, WI

39,728

Population

14,979

Households

2.7

Avg Household Size

29

Median Age

15%

College-Educated

65%

High-School Grad

3.2 sq mi

ZIP Area

12,415

Density / Sq Mi

$43,645

Median Household Income

$30,906

Median Earnings

$964

Median Rent

$106,000

Median Home Value

Market

Vacancy Rate% for Office in Milwaukee, WI

16.5% 2019

19.8% 2020

20.4% 2021

21.7% 2022

22.9% 2023

24.7% 2024

24.7% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Two-function commercial building with updated roofing, new AC, and tenants pursuing three-year NNN lease terms.

Where is this flex space located?

The property is located at 1322 S 10th St Milwaukee, WI.

What is the asking price?

The asking price for this property is $750,000.

What are key features of this property?

This property features: 8,057‑square‑foot flex office/warehouse building; Located at 1322 S 10th St in Milwaukee’s Walker's Point area; Building constructed in 1905