Renovated Warehouse with
For Sale
$699,000
3701-3729 N Holton St, Milwaukee, WI 53212
Three-building industrial property with office components, drive-in access, upgraded electrical service, and yard area.
Property Size16,481 SF
Price / SF$42.41
Days on Market27
Property Features for 3701-3729 N Holton St
General Information
Standard status
Active
Size
16,481 SF
Additional Details
Public Transit
Yes
Drive-In Doors
3
Building Details
Year Built
1946
Year Renovated
2026
Buildings
3
Tenancy
Multi
Listing Agency:
Paradigm Real Estate
(262) 717-5151
Listed By:
Brian Parrish
Source:
Levelupwi
Added: Aug 2
Changed: Aug 28
Last Checked: Aug 25 at 5:00AM
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 Paradigm Real Estate
Investment Insights
Based on property information with market context.
This three-building warehouse property includes a 13,871-square-foot main warehouse with 1,590 square feet of office space, plus a 1,920-square-foot unheated storage building and a 690-square-foot freestanding office. The main building was renovated in 2026 and includes three drive-in doors and overhead cranes. Recent work also includes interior painting, LED lighting, a new electrical service, and roof coating.
The storage building and standalone office are leased. The property includes yard space that may support outdoor storage and is located on a bus line at 3701-3729 N Holton St in Milwaukee, Wisconsin. The offering is identified for sale or lease, with the main building and smaller divisible space referenced separately in the property information.
The storage building and standalone office are leased. The property includes yard space that may support outdoor storage and is located on a bus line at 3701-3729 N Holton St in Milwaukee, Wisconsin. The offering is identified for sale or lease, with the main building and smaller divisible space referenced separately in the property information.
Key Highlights
- 13,871 SF main warehouse with 1,590 SF of office space
- Three‑building industrial property at 3701‑3729 N Holton St
- Main building renovated in 2026 with three drive‑in doors
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
$60,014
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
8.59%
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%
$1,200,280
$1.2M
Cap Rate 7%
$857,343
$857.3K
Cap Rate 9%
$666,822
$666.8K
Market Conditions
NOI Build-Up for 16,481 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
$90.2K $5.47/SF
− Vacancy
−$4.4K −$0.27/SF
EGI
$85.7K $5.20/SF
− OpEx
−$25.7K −$1.56/SF
NOI
$60.0K $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%
$1,200,280
Cap Rate 7%
$857,343
Cap Rate 9%
$666,822
Alternative Uses
Best Use
Office B
$2.69M
$2.36M – $3.14M
NOI $188,452 @ 7.0% cap · market cap 26.96%
Second Best
Flex RnD
$2.32M
$2.03M – $2.70M
NOI $162,265 @ 7.0% cap · market cap 23.21%
Theoretical Best
Office A
$3.96M
$3.47M – $4.62M
NOI $277,237 @ 7.0% cap · market cap 39.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Drive-in doors
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
832
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 53212, WI
28,702
Population
15,749
Households
1.8
Avg Household Size
32
Median Age
37%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
7,000
Density / Sq Mi
$42,679
Median Household Income
$36,578
Median Earnings
$1,038
Median Rent
$204,300
Median Home Value
Market
Vacancy Rate% for Office in Milwaukee, WI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Three-building industrial property with office components, drive-in access, upgraded electrical service, and yard area.
Where is this warehouse located?
The property is located at 3701-3729 N Holton St Milwaukee, WI.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 13,871 SF main warehouse with 1,590 SF of office space; Three‑building industrial property at 3701‑3729 N Holton St; Main building renovated in 2026 with three drive‑in doors
