Renovated Historic Office and Event
422 N 15th St Milwaukee, WI 53233
For Sale
Contact for pricing
Renovated in 2018 with updated electrical, plumbing, and HVAC, featuring elevator access and restored interior brick and timber.
Property Size11,532 SF
Price / SF$281.82
Days on Market448
Property Features for 422 N 15th St
General Information
Standard status
Active
Size
11,532 SF
Property subtype
OFFICE
Listing Agency:
CBRE, Inc.
(414) 750-1275
Listed By:
John Mazza
(414) 750-1275
Source:
Moodyscre
Added: May 9, 2025
Changed: Jul 28
Last Checked: Jul 29 at 1:46PM
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 CBRE, Inc.
Investment Insights
Based on property information with market context.
This historic building was completely renovated in 2018 to create a modern office and event space while preserving original brick and timber construction. Electrical, plumbing, and HVAC systems were updated, and the interior was restored with contemporary conveniences including an elevator and well-appointed restrooms.
The exterior features cream city brick and prominent facade signage. A color-changing lighting system is also in place, designed to draw attention from passing traffic.
Located at 422 N 15th St, the property offers a distinctive, renovated setting for office operations and event use, with key building systems refreshed and period materials preserved.
The exterior features cream city brick and prominent facade signage. A color-changing lighting system is also in place, designed to draw attention from passing traffic.
Located at 422 N 15th St, the property offers a distinctive, renovated setting for office operations and event use, with key building systems refreshed and period materials preserved.
Key Highlights
- Historic building completely renovated in 2018
- Updated electrical, plumbing, and HVAC systems
- Elevator access with restored interior brick and timber construction
Financial Insights For Office B
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 | $228.3k | $19.80 |
| − Vacancy | −$52.5k | −$4.55 |
| EGI | $175.8k | $15.25 |
| − OpEx | −$44.0k | −$3.81 |
| NOI | $131.9k | $11.43 |
11,532 SF · lease $19.80/SF/yr · vacancy 23.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.88M
$1.65M – $2.20M
NOI $131,863 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.77M
$2.42M – $3.23M
NOI $193,987 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Renovated in 2018 with updated electrical, plumbing, and HVAC, featuring elevator access and restored interior brick and timber.
Where is this office building located?
The property is located at 422 N 15th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Historic building completely renovated in 2018; Updated electrical, plumbing, and HVAC systems; Elevator access with restored interior brick and timber construction
