Milwaukee Retail and Parking
For Sale
Contact for pricing
2605 E Park Pl, Milwaukee, WI
Portfolio sale featuring retail space and parking units.
Property Size56,796 SF
Lot Size0.48 Acres
Price / SF$46.66
Days on Market298
Property Features for 2605 E Park Pl
General Information
Standard status
Active
Size
56,796 SF
Lot size
0.48 Acres
Property subtype
SPECIALTY
Listing Agency:
Hunter Real Estate LLC
(414) 931-9931
Listed By:
Michael Testa, CCIM · License #8559994
(815) 482-0105
Source:
Moodyscre
Added: Nov 19, 2025
Changed: Sep 4
Last Checked: Sep 13 at 10:06AM
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 Hunter Real Estate LLC
Investment Insights
Based on property information with market context.
This portfolio sale consists of three condos. The portfolio includes a 3,200 square foot retail unit within a four-story retail building located at 2574-2580 N Downer Ave, Milwaukee. Additionally, the portfolio features a 104-stall parking unit at 2584 N Downer Ave. The portfolio also includes 13,000 square feet of second-floor space situated above a retail center at 2605 E Park Place, Milwaukee. The total property size is 56,796 square feet.
Key Highlights
- Portfolio includes a 3,200 SF retail unit.
- Portfolio includes a 104 stall parking unit.
- Portfolio features 13,000 SF of second floor space.
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
$206,816
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
7.80%
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%
$4,136,320
$4.1M
Cap Rate 7%
$2,954,514
$3.0M
Cap Rate 9%
$2,297,956
$2.3M
Market Conditions
NOI Build-Up for 56,796 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
$310.7K $5.47/SF
− Vacancy
−$15.2K −$0.27/SF
EGI
$295.5K $5.20/SF
− OpEx
−$88.6K −$1.56/SF
NOI
$206.8K $3.64/SF
Area
Milwaukee, WI
Vacancy
4.90%
Lease Rate
$5.47 /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%
$4,136,320
Cap Rate 7%
$2,954,514
Cap Rate 9%
$2,297,956
Alternative Uses
Best Use
Retail
$8.51M
$7.45M – $9.93M
NOI $595,762 @ 7.0% cap · market cap 22.48%
Second Best
Industrial
$2.95M
$2.59M – $3.45M
NOI $206,816 @ 7.0% cap · market cap 7.80%
Theoretical Best
Office A
$13.65M
$11.94M – $15.92M
NOI $955,400 @ 7.0% cap · market cap 36.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,696
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Milwaukee, WI
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Frequently Asked Questions
What type of property is this?
Parking lot & garage - Portfolio sale featuring retail space and parking units.
Where is this parking lot & garage located?
The property is located at 2605 E Park Pl Milwaukee, WI.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Portfolio includes a 3,200 SF retail unit.; Portfolio includes a 104 stall parking unit.; Portfolio features 13,000 SF of second floor space.
