First-Floor Retail Condo
For Sale
Contact for pricing
413 N 2nd St, Milwaukee, WI 53203
Loft-style first-floor commercial condo unit with cream city brick and timber construction.
Property Size2,629 SF
Price / SF$162
Days on Market105
Property Features for 413 N 2nd St
General Information
Standard status
Active
Size
2,629 SF
Property subtype
RETAIL
Building Details
Construction
cream city brick & timber loft-style
Listing Agency:
Transwestern Commercial Services WI
(414) 305-3070
Listed By:
Marianne Burish · License #5649190
(414) 305-3070
Source:
Moodyscre
Added: Apr 17
Changed: Jul 26
Last Checked: Jul 29 at 3:30PM
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 Transwestern Commercial Services WI
Investment Insights
Based on property information with market context.
This well-situated first-floor commercial condo unit is built with cream city brick and timber, offering a loft-style interior character. The property is presented as a ready-to-own space designed with investment and occupancy in mind, with the current offering described as including one or both units.
The location is a short walk to amenities in the Historic Third Ward, including the Milwaukee Public Market, and it is noted as steps from nearby destinations such as the Pritzlaff building and event space, Apertivo restaurant, and Explorium Brewpub. Additional nearby activity referenced in the remarks includes the downtown Intermodal (Amtrak) Station, the under-construction Foxtown Brewing taproom/distillery/restaurant, and immediate adjacency to the Downtown Dog Park.
As a first-floor retail condo, the space is positioned for commercial use in a dense downtown setting, supporting straightforward access for customers and day-to-day operations.
The location is a short walk to amenities in the Historic Third Ward, including the Milwaukee Public Market, and it is noted as steps from nearby destinations such as the Pritzlaff building and event space, Apertivo restaurant, and Explorium Brewpub. Additional nearby activity referenced in the remarks includes the downtown Intermodal (Amtrak) Station, the under-construction Foxtown Brewing taproom/distillery/restaurant, and immediate adjacency to the Downtown Dog Park.
As a first-floor retail condo, the space is positioned for commercial use in a dense downtown setting, supporting straightforward access for customers and day-to-day operations.
Key Highlights
- Loft‑style first‑floor commercial condo unit
- Cream city brick and timber construction
- Located a block from Historic Third Ward amenities, including the Milwaukee Public Market
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.6k | $16.20 |
| − Vacancy | −$3.2k | −$1.22 |
| EGI | $39.4k | $14.99 |
| − OpEx | −$11.8k | −$4.50 |
| NOI | $27.6k | $10.49 |
2,629 SF · lease $16.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$394.0K
$344.7K – $459.6K
NOI $27,577 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$631.8K
$552.8K – $737.1K
NOI $44,224 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,054
Businesses Nearby
Explore this area
Business Placement
Demographics for 53203, WI
2,180
Population
1,661
Households
1.3
Avg Household Size
29
Median Age
74%
College-Educated
100%
High-School Grad
0.4 sq mi
ZIP Area
5,450
Density / Sq Mi
$84,005
Median Household Income
$75,244
Median Earnings
$1,671
Median Rent
$334,600
Median Home Value
Market
Vacancy Rate% for Retail in Milwaukee, WI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Loft-style first-floor commercial condo unit with cream city brick and timber construction.
Where is this retail space located?
The property is located at 413 N 2nd St Milwaukee, WI.
What is the asking price?
The asking price for this property is $425,900.
What are key features of this property?
This property features: Loft‑style first‑floor commercial condo unit; Cream city brick and timber construction; Located a block from Historic Third Ward amenities, including the Milwaukee Public Market
