Second-Floor Office
For Sale
Contact for pricing
3421 W State Street 2-1, Milwaukee, WI 53208
Compact workspace with a shared balcony and landlord-paid gas and electric.
Property Size90 SF
Price / SF$3.61
Days on Market54
Property Features for 3421 W State Street 2-1
General Information
Standard status
Active
Size
90 SF
Additional Details
Floor
2
Public Transit
Yes
Amenities
shared balcony
Building Details
Year Built
1968
Listing Agency:
RE/MAX Preferred-Delafield
Listed By:
The Vinz Real Estate Collectiv Group*
Source:
Jwregwi
Added: Aug 30
Changed: Oct 6
Last Checked: Oct 20 at 10:58PM
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 RE/MAX Preferred-Delafield
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This second-floor office unit provides approximately 90 square feet of commercial workspace within a shared building environment. The suite includes access to a large shared balcony, while the interior is described as bright and airy. The landlord covers gas and electric service, and tenants share responsibility for water costs.
The property is located at 3421 W State Street in Milwaukee, near Wauwatosa and Marquette University. Downtown Milwaukee is minutes away, with major commuter routes and public transit nearby. Built in 1968, the property offers a small-format office setting for an individual professional or compact operation.
The property is located at 3421 W State Street in Milwaukee, near Wauwatosa and Marquette University. Downtown Milwaukee is minutes away, with major commuter routes and public transit nearby. Built in 1968, the property offers a small-format office setting for an individual professional or compact operation.
Key Highlights
- Approximately 90 sq ft second‑floor office unit
- Access to a large shared balcony
- Landlord covers gas and electric
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,029
Suggested Prices Based on Cap Rates
Cap Rate 5%
$20,580
$20.6K
Cap Rate 7%
$14,700
$14.7K
Cap Rate 9%
$11,433
$11.4K
Market Conditions
NOI Build-Up for 90 SF
Gross rent
$1.8K $19.80/SF
− Vacancy
−$410 −$4.55/SF
EGI
$1.4K $15.25/SF
− OpEx
−$343 −$3.81/SF
NOI
$1.0K $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%
$20,580
Cap Rate 7%
$14,700
Cap Rate 9%
$11,433
Alternative Uses
Best Use
Office B
$14.7K
$12.9K – $17.2K
NOI $1,029 @ 7.0% cap · market cap 316.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$21.6K
$18.9K – $25.2K
NOI $1,514 @ 7.0% cap · market cap 465.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
902
Businesses Nearby
Explore this area
Business Placement
Demographics for 53208, WI
29,644
Population
13,778
Households
2.2
Avg Household Size
33
Median Age
31%
College-Educated
89%
High-School Grad
4.2 sq mi
ZIP Area
7,058
Density / Sq Mi
$50,585
Median Household Income
$40,729
Median Earnings
$924
Median Rent
$196,300
Median Home Value
Market
Vacancy Rate% for Office in Milwaukee, WI
Frequently Asked Questions
What type of property is this?
Office unit - Compact workspace with a shared balcony and landlord-paid gas and electric.
Where is this office unit located?
The property is located at 3421 W State Street 2-1 Milwaukee, WI.
What are key features of this property?
This property features: Approximately 90 sq ft second‑floor office unit; Access to a large shared balcony; Landlord covers gas and electric
