Retail Space For
For Sale
Contact for pricing
2222 W Capitol Dr, Milwaukee, WI 53209
Retail space available for purchase.
Property Size14,171 SF
Price / SF$197.59
Days on Market172
Property Features for 2222 W Capitol Dr
General Information
Standard status
Active
Size
14,171 SF
Total Parking Spaces
63
Property subtype
Retail
Zoning
LB2
Building Details
Year Built
1998
Listing Agency:
Founders 3 Real Estate Services Retail Brokerage Division
Listed By:
Ross Koepsel CCIM · License #WI 94-55326
Source:
Crexi
Added: Feb 20
Changed: Aug 8
Last Checked: Aug 10 at 2:27PM
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 Founders 3 Real Estate Services Retail Brokerage Division
Investment Insights
Based on property information with market context.
This commercial real estate offering features a retail space available for sale. The property encompasses a total area of 14,171 square feet.
Key Highlights
- Built in 1998
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$157,069
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,141,380
$3.1M
Cap Rate 7%
$2,243,843
$2.2M
Cap Rate 9%
$1,745,211
$1.7M
Market Conditions
NOI Build-Up for 14,171 SF
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.
Gross rent
$246.6K $17.40/SF
− Vacancy
−$22.2K −$1.57/SF
EGI
$224.4K $15.83/SF
− OpEx
−$67.3K −$4.75/SF
NOI
$157.1K $11.08/SF
Area
ZIP 53209
Vacancy
9.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,141,380
Cap Rate 7%
$2,243,843
Cap Rate 9%
$1,745,211
Alternative Uses
Best Use
Retail
$2.24M
$1.96M – $2.62M
NOI $157,069 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.41M
$2.98M – $3.97M
NOI $238,379 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
Explore this area
Business Placement
Demographics for 53209, WI
44,586
Population
21,466
Households
2.1
Avg Household Size
37
Median Age
25%
College-Educated
89%
High-School Grad
10.9 sq mi
ZIP Area
4,090
Density / Sq Mi
$45,288
Median Household Income
$33,854
Median Earnings
$980
Median Rent
$150,200
Median Home Value
Market
Vacancy Rate% for Retail in Milwaukee, WI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Retail space available for purchase.
Where is this retail space located?
The property is located at 2222 W Capitol Dr Milwaukee, WI.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Built in 1998
