Listed By: Patrick Gallagher Show Phone

Source: Cbre

Added: Jul 17 Changed: Oct 13 Last Checked: Oct 12 at 5:58PM

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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 Patrick Gallagher

Investment Insights

Based on property information with market context.

This 3,000-square-foot flex space at 2622 North Wauwatosa Avenue includes heating and air conditioning throughout the property. The warehouse is equipped with 400-amp power and a single 8-foot by 8-foot dock door, supporting commercial storage and handling functions.

The property also features a fully furnished kitchen, adding an existing amenity for occupants using the space. Its flex-space configuration combines conditioned interior space with warehouse capability at the Wauwatosa address.

Key Highlights

• 3,000‑square‑foot flex space
• Heating and air conditioning throughout
• 400‑amp warehouse power

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,389

Cap Rate

5.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$527,780 $527.8K

Cap Rate 7%

$376,986 $377.0K

Cap Rate 9%

$293,211 $293.2K

Market Conditions

NOI Build-Up for 3,000 SF

Gross rent

$43.6K $14.52/SF

− Vacancy

−$3.0K −$0.99/SF

EGI

$40.6K $13.53/SF

− OpEx

−$14.2K −$4.74/SF

NOI

$26.4K $8.80/SF

Area

Milwaukee County, WI

Vacancy

6.80%

Lease Rate

$14.52 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$527,780

Cap Rate 7%

$376,986

Cap Rate 9%

$293,211

Alternative Uses

Best Use

Flex RnD

$377.0K

$329.9K – $439.8K (±1% cap)

NOI $26,389 @ 7.0% cap · market cap 5.03%

Second Best

Warehouse

$189.3K

$165.6K – $220.9K (±1% cap)

NOI $13,251 @ 7.0% cap · market cap 2.52%

Theoretical Best

Office A

$711.4K

$622.5K – $830.0K (±1% cap)

NOI $49,799 @ 7.0% cap · market cap 9.49%

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

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Law Firm Kitchen & Bath Showroom HVAC Service Building Supply Parking Lot & Garage

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

Location Intelligence

Trade Area within ½ mile

552

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 53213, WI

26,469

Population

12,591

Households

2.1

Avg Household Size

37

Median Age

63%

College-Educated

98%

High-School Grad

3.9 sq mi

ZIP Area

6,787

Density / Sq Mi

$94,144

Median Household Income

$59,472

Median Earnings

$1,228

Median Rent

$311,200

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Climate-controlled flex space with a furnished kitchen, warehouse power, and dock access.

Where is this flex space located?

The property is located at 2622 North Wauwatosa Avenue Wauwatosa, WI.

What is the asking price?

The asking price for this property is $525,000.

What are key features of this property?

This property features: 3,000‑square‑foot flex space; Heating and air conditioning throughout; 400‑amp warehouse power