Listing Agency: Cushman & Wakefield | Boerke Show Phone

Listed By: Katie Melbye Show Phone

Source: Moodyscre

Added: May 8, 2025 Changed: Oct 25 Last Checked: Nov 1 at 8:29AM

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Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 5.5-acre redevelopment opportunity includes an existing building with a functional mix of office, lab, and warehouse space. The property is well suited for an owner-user looking to occupy space while retaining the option to expand the existing building.

The asset offers signage opportunities visible from the freeway. Access to I-43/I-894/I-45 is available via South 108th Street, supporting convenient regional connectivity.

With both office and warehouse components under one roof, the layout can accommodate multiple operational needs within a single property.

Key Highlights

• 5.5‑acre redevelopment opportunity
• Building offers a mix of office, lab, and warehouse space
• Potential for an owner/user to expand the existing building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$238,755

Cap Rate

7.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,775,100 $4.8M

Cap Rate 7%

$3,410,786 $3.4M

Cap Rate 9%

$2,652,833 $2.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 24,250 SF

Gross rent

$392.9K $16.20/SF

− Vacancy

−$25.5K −$1.05/SF

EGI

$367.3K $15.15/SF

− OpEx

−$128.6K −$5.30/SF

NOI

$238.8K $9.85/SF

Area

Milwaukee, WI

Vacancy

6.50%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,775,100

Cap Rate 7%

$3,410,786

Cap Rate 9%

$2,652,833

Alternative Uses

Best Use

Flex RnD

$3.41M

$2.98M – $3.98M (±1% cap)

NOI $238,755 @ 7.0% cap · market cap 7.23%

Second Best

Warehouse

$1.53M

$1.34M – $1.79M (±1% cap)

NOI $107,226 @ 7.0% cap · market cap 3.25%

Theoretical Best

Office A

$5.83M

$5.10M – $6.80M (±1% cap)

NOI $407,924 @ 7.0% cap · market cap 12.36%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Everbrite Innovation Center Research And Product Development

Suggested Use

Top Pick Dental Office Real Estate Agency Skin Care Clinic Bakery Furniture & Home Goods Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

222

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 53228, WI

15,341

Population

7,180

Households

2.1

Avg Household Size

45

Median Age

36%

College-Educated

96%

High-School Grad

5.2 sq mi

ZIP Area

2,950

Density / Sq Mi

$75,288

Median Household Income

$54,006

Median Earnings

$1,220

Median Rent

$254,700

Median Home Value

Market

Vacancy Rate% for Industrial in Milwaukee, WI

4.3% 2019

4.7% 2020

3.1% 2021

2.3% 2022

3.1% 2023

3.7% 2024

4.2% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Redevelopment site with a mixed office, lab, and warehouse building on 5.5 acres, with freeway-visible signage.

Where is this flex space located?

The property is located at 4969 S 110th 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: 5.5‑acre redevelopment opportunity; Building offers a mix of office, lab, and warehouse space; Potential for an owner/user to expand the existing building