Loft-Style Office
For Sale
Contact for pricing
223 N Water St, Milwaukee, WI 53202
Office suites feature exposed brick, wood beams, and river-oriented outlooks.
Property Size4,500 SF
Price / SF$0.00
Days on Market75
Property Features for 223 N Water St
General Information
Standard status
Active
Size
4,500 SF
Amenities
river views
Building Details
Year Built
1890
Construction
brick & beam
Listing Agency:
Anderson Commercial Group, LLC
Listed By:
Stephen Anderson · License #5132790
(414) 425-2700
Source:
Jwregwi
Added: Aug 3
Changed: Oct 11
Last Checked: Oct 7 at 3:14PM
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 Anderson Commercial Group, LLC
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Investment Insights
Based on property information with market context.
This 4,500-square-foot office property contains loft-style suites with exposed cream city brick and wood beam details. Constructed in 1890, the building offers a distinctive architectural character for office users seeking an established setting.
The property is located at 223 N Water St in Milwaukee’s Third Ward, with views oriented toward Water St and the Milwaukee River.
The property is located at 223 N Water St in Milwaukee’s Third Ward, with views oriented toward Water St and the Milwaukee River.
Key Highlights
- 4,500 SF office property with loft‑style suites
- Exposed cream city brick and wood beam details
- Constructed in 1890
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,455
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,029,100
$1.0M
Cap Rate 7%
$735,071
$735.1K
Cap Rate 9%
$571,722
$571.7K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$89.1K $19.80/SF
− Vacancy
−$20.5K −$4.55/SF
EGI
$68.6K $15.25/SF
− OpEx
−$17.2K −$3.81/SF
NOI
$51.5K $11.43/SF
Area
Milwaukee, WI
Vacancy
23.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,029,100
Cap Rate 7%
$735,071
Cap Rate 9%
$571,722
Alternative Uses
Best Use
Office B
$735.1K
$643.2K – $857.6K
NOI $51,455 @ 7.0% cap · market cap 367,535.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$946.2K – $1.26M
NOI $75,697 @ 7.0% cap · market cap 540,692.86%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,595
Businesses Nearby
Explore this area
Business Placement
Demographics for 53202, WI
27,897
Population
18,629
Households
1.5
Avg Household Size
31
Median Age
66%
College-Educated
98%
High-School Grad
2.1 sq mi
ZIP Area
13,284
Density / Sq Mi
$68,482
Median Household Income
$52,339
Median Earnings
$1,234
Median Rent
$298,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Milwaukee, WI
Frequently Asked Questions
What type of property is this?
Office units - Office suites feature exposed brick, wood beams, and river-oriented outlooks.
Where is this office units located?
The property is located at 223 N Water St Milwaukee, WI.
What are key features of this property?
This property features: 4,500 SF office property with loft‑style suites; Exposed cream city brick and wood beam details; Constructed in 1890
