Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Haymarket Square Redevelopment Opportunity Title is generated by Realmo AI

    424 W Cherry St, Milwaukee, WI

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Large site near downtown Milwaukee with redevelopment potential.

    Type:INDUSTRIAL
    Property size:
    46,767 SF
    Lot size:
    2.06 Acres
    Price / SF:
    $70/SF
    Added:
    Jun 8, 2023
    Days on Market:
    1098
    Last Refresh:
    May 19 at 10:20 pm

    Property Features for 424 W Cherry St

    General Information

    Standard status
    Active
    Size
    46,767 SF
    Lot size
    2.06 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    David L. Barry

    Listing agent David L. Barry

    Listing office The Barry Company

    Listing date Jun 8, 2023

    Source Moodyscre

    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 The Barry Company

    HighLights

    • Rare, Large Site In Haymarket Square
    • Huge On‑Site Fenced‑In Parking Area
    • Just 1 Block To The New $300M Milwaukee Public Museum
    • Blocks To The Buck’s Deer District
    • High Ceiling Heights on 2 Levels
    • Quick Interstate Access

    Overview

    This property, located in Haymarket Square and overlooking downtown Milwaukee, presents a redevelopment opportunity. The site features high ceiling heights on two levels and includes a large, fenced-in parking area. It offers quick access to the interstate and is situated blocks from the Bucks Deer District. The property is also located one block from the new $300M Milwaukee Public Museum. The property contains 46,767 square feet of space.

    Local Financial Insights For Warehouse

    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 $255.8k $5.47
    − Vacancy −$12.5k −$0.27
    EGI $243.3k $5.20
    − OpEx −$36.5k −$0.78
    NOI $206.8k $4.42
    46,767 SF · lease $5.47/SF/yr · vacancy 4.90% · expense 15.00%

    Alternative Uses

    Best Use
    Warehouse
    $2.95M
    $2.58M – $3.45M (±1% cap)
    NOI $206,788 @ 7.0% cap · market cap 6.27%
    Second Best
    Industrial
    $2.43M
    $2.13M – $2.84M (±1% cap)
    NOI $170,296 @ 7.0% cap · market cap 5.16%
    Theoretical Best
    Office A
    $11.24M
    $9.83M – $13.11M (±1% cap)
    NOI $786,696 @ 7.0% cap · market cap 23.84%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Transit Express Freight Service

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Law Firm Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Old World 3rd St Car Storage — 822 N Old World 3rd St, Milwaukee, WI 53203
    • Nearby Storage Units — 709 N Jefferson St, Milwaukee, WI 53202, United States
    • Milwaukee Document Scanning — 209 E Mason St, Milwaukee, WI 53202
    • Life Storage - Milwaukee — 1131 N 8th St, Milwaukee, WI 53233
    • ERO Moving — 1345 N Jefferson St, Milwaukee, WI 53202

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9169
    Latitude
    43.0502

    Nearby Similar for Sale

    • $349,900
      4,892 SF

      Updated Office Building For Sale

      Turnkey office building with flexible floor plan in Milwaukee.
      2001 West Capitol Dr, Milwaukee, WI 53206
      View Details
    • $735,000
      6,114 SF

      Multi-Unit Commercial Property For Sale

      Well-maintained commercial property with restaurant and retail/office spaces.
      8301 W Silver Spring Dr, Milwaukee, WI 53218
      View Details
    • $469,000
      2,863 SF

      Prime Commercial Building on S 76th

      Free-standing building in a high-traffic commercial area.
      3171 S 76th St, Milwaukee, WI 53219
      View Details
    • $499,900
      9,688 SF

      One-Story Multi-Tenant Office Building

      One-story office building with multiple private offices, meeting/conference space, and ample parking on landscaped grounds.
      9306 N 107th St, Milwaukee, WI 53224
      View Details
    • $475,000
      5,616 SF

      Mixed-Use Investment Opportunity

      Eight-unit mixed-use property in the Burleigh Street business district.
      4404 W Burleigh St, Milwaukee, WI 53210
      View Details
    • $490,000
      6,327 SF

      Villard Avenue Commercial Property

      Commercial property suitable for daycare, retail, office, or service use.
      3311 W Villard Ave, Milwaukee, WI 53209
      View Details
    • $230,000
      2,012 SF

      Established Commercial Garage Opportunity

      Well-established commercial garage with equipment in place for automotive businesses.
      4870 W Fond Du Lac Ave, Milwaukee, WI 53216
      View Details
    • $474,900
      6,391 SF

      Mixed-Use Commercial Property on Capitol

      Large mixed-use commercial property on high-traffic Capitol Dr corridor.
      3524 W Capitol Dr, Milwaukee, WI 53216
      View Details
    • $400,000
      18,433 SF

      Light Industrial Facility For Sale

      Industrial facility with 3-phase power, compressed air, and office space.
      4602 20Th St, Milwaukee, WI 53029
      View Details
    • $299,900
      2,690 SF

      Turnkey Automotive Property on MLK

      Freestanding commercial property ideal for automotive service business.
      3210 N Dr Martin Luther King Jr Dr, Milwaukee, WI 53212
      View Details
    • $424,900

      Milwaukee Duplex Investment Opportunity

      Income-producing duplex near lakefront, parks, dining, and nightlife.
      2405 N Frederick Ave, Milwaukee, WI 53211
      View Details
    • $376,500
      6,792 SF

      Mixed-Use Building with Daycare

      Mixed-use property with residential and commercial units in Milwaukee.
      2214 W Hopkins St, Milwaukee, WI 53206
      View Details

    FAQs

    What type of property is this?
    Warehouse - Large site near downtown Milwaukee with redevelopment potential.
    Where is this warehouse located?
    The property is located at 424 W Cherry St Milwaukee, WI.
    What is the asking price?
    The asking price for this property is $3,300,000.
    What are key features of this property?
    This property features: Rare, Large Site In Haymarket Square; Huge On‑Site Fenced‑In Parking Area; Just 1 Block To The New $300M Milwaukee Public Museum
    (414) 803-4988 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    David L. Barry
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error
    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    424 W Cherry St, Milwaukee, WI
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!