Flex Space with Office
New
For Sale
$612,800
333 S Hawley Rd, Milwaukee, WI 53214
Concrete-block industrial service property with dedicated office space and access to major Milwaukee-area transportation routes.
Property Size3,830 SF
Lot Size0.28 Acres
Price / SF$160
Days on Market3
Property Features for 333 S Hawley Rd
General Information
Standard status
Active
Size
3,830 SF
Class
Unclassified
Lot size
0.28 Acres
Property subtype
industrial
Zoning
LB1
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
10 ft
Office Build-Out
1,200 SF
Building Details
Year Built
1973
Building Size
3,830 SF
Construction
concrete block
Listing Agency:
Milwaukee
(414) 944-2200
Listed By:
Jon Packee · License #52281-94
(414) 944-2109
Source:
Property.jll
Added: Sep 16
Last Checked: Sep 18 at 3:57AM
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 Milwaukee
Investment Insights
Based on property information with market context.
This flex-space property at 333 S. Hawley Rd. in Milwaukee includes a 3,830 SF industrial service building with 1,200 SF of office area. Built in 1973, the structure uses concrete-block construction and provides 10' of clear height. The property sits on a 0.28 AC lot in the Johnson’s Woods neighborhood.
The building is positioned along S. Hawley Rd., which carries 19,300 CPD, and immediately south of I-94, where traffic reaches 160,000 CPD. Its configuration combines service-oriented industrial space with a substantial office component for businesses needing both operational and administrative areas.
The building is positioned along S. Hawley Rd., which carries 19,300 CPD, and immediately south of I-94, where traffic reaches 160,000 CPD. Its configuration combines service-oriented industrial space with a substantial office component for businesses needing both operational and administrative areas.
Key Highlights
- 3,830 SF flex‑space building on a 0.28 AC lot
- 1,200 SF dedicated office area
- 10' clear height
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
$37,708
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
6.15%
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%
$754,160
$754.2K
Cap Rate 7%
$538,686
$538.7K
Cap Rate 9%
$418,978
$419.0K
Market Conditions
NOI Build-Up for 3,830 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
$62.0K $16.20/SF
− Vacancy
−$4.0K −$1.05/SF
EGI
$58.0K $15.15/SF
− OpEx
−$20.3K −$5.30/SF
NOI
$37.7K $9.85/SF
Area
Milwaukee, WI
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
35.00%
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%
$754,160
Cap Rate 7%
$538,686
Cap Rate 9%
$418,978
Alternative Uses
Best Use
Flex RnD
$538.7K
$471.4K – $628.5K
NOI $37,708 @ 7.0% cap · market cap 6.15%
Second Best
Industrial
$199.2K
$174.3K – $232.4K
NOI $13,946 @ 7.0% cap · market cap 2.28%
Theoretical Best
Office A
$920.4K
$805.3K – $1.07M
NOI $64,427 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
10 ft
Clear height
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
797
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53214, WI
34,297
Population
17,530
Households
2
Avg Household Size
37
Median Age
28%
College-Educated
93%
High-School Grad
7.1 sq mi
ZIP Area
4,831
Density / Sq Mi
$62,712
Median Household Income
$46,304
Median Earnings
$999
Median Rent
$178,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Milwaukee, WI
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Frequently Asked Questions
What type of property is this?
Flex space - Concrete-block industrial service property with dedicated office space and access to major Milwaukee-area transportation routes.
Where is this flex space located?
The property is located at 333 S Hawley Rd Milwaukee, WI.
What is the asking price?
The asking price for this property is $612,800.
What are key features of this property?
This property features: 3,830 SF flex‑space building on a 0.28 AC lot; 1,200 SF dedicated office area; 10' clear height
