Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Creative Office Space in Milwaukee Title is generated by Realmo AI

    507 S 2nd St, Milwaukee, WI 53203

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Unique office spaces fostering collaboration in a dynamic Milwaukee hub.

    Type:OFFICE
    Property size:
    1,276 SF
    Lot size:
    0.64 Acres
    Added:
    Jan 9, 2018
    Days on Market:
    3050
    Last Refresh:
    Apr 5 at 8:10 pm

    Property Features for 507 S 2nd St

    General Information

    Standard status
    Active
    Size
    1,276 SF
    Lot size
    0.64 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 507 S 2nd St Contact us

    We can help!

    Listing Contact
    Matthew Fahey

    Listing agent Matthew Fahey

    Listing office Colliers - Milwaukee

    Listing date Jan 9, 2018

    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 Colliers - Milwaukee

    HighLights

    • Multifaceted ecosystem for startups, tech companies, and creative agencies.
    • Mix of traditional office space and individual offices.
    • Unique small‑scale offices designed for collaboration.
    • Access to a 3,500 SF rooftop terrace.
    • Features a two‑story lobby and commercial coffee vendor.
    • Includes multiple conference rooms, communal break room/lounge, and fitness center.

    Overview

    The Eagleknit Innovation Hub provides a collaborative environment for startups, community organizations, tech companies, and creative agencies. Located on the entire first floor, the hub offers a mix of traditional office space and individual offices tailored to individuals with smaller space needs. These spaces are designed to encourage collaboration between professionals and community leaders. The property features a two-story lobby, a commercial coffee vendor, multiple conference rooms, a communal break room and lounge, a fitness center, and access to a 3,500 square foot rooftop terrace.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    REYN Engineering Structural Engineer Tri-Marq Communications, Inc. Film Production Christine Plamann Photography Photography Service SRH Advertising Agency i.c.stars |* Milwaukee Employment Agency

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.913
    Latitude
    43.0259

    Nearby Similar for Lease

    • $3,000/Mo
      2,000 SF

      High-Visibility Milwaukee Commercial Space

      Versatile 2,000 sq ft space ideal for professional services.
      5022 S 27th St, Milwaukee, WI 53221
      View Details
    • $2,000/Mo
      4,560 SF

      High-Traffic Retail/Office Space Available

      Well-kept building with great visibility, perfect for various businesses.
      5128 W Center St, Milwaukee, WI 53210
      View Details
    • $550/Mo
      110 SF

      Furnished Office Spaces Available

      Furnished offices with shared amenities in Shorewood, Wisconsin.
      1200 E Capitol Dr, Shorewood, WI 53211
      View Details
    • $129-$3,146/Mo
      11-1,292 SF

      WI, Wauwatosa - Honey Creek Corporate Center

      9000 Chester St, Unit 100, Milwaukee, WI 53214
      View Details
    • Sponsored
      $129-$5,993/Mo
      11-1,292 SF

      WI, Milwaukee - S 1st Street

      161 1St St, Unit 3RD, Milwaukee, WI 53204
      View Details
    • $129-$6,839/Mo
      11-1,875 SF

      Spaces North Water Street

      1433 Water St, Unit 400, Milwaukee, WI 53202
      View Details
    • $129-$3,479/Mo
      11-1,292 SF

      Liberty 1 at Park Place

      11414 Park Pl, Unit 202, Milwaukee, WI 53224
      View Details
    • $129-$3,028/Mo
      11-1,292 SF

      Third Ward

      342 Water St, Unit 600, Milwaukee, WI 53202
      View Details
    • Sponsored
      Contact for pricing
      10-1,292 SF

      Downtown Milwaukee

      250 Wisconsin Ave, Unit 18TH, Milwaukee, WI 53202
      View Details
    • $18 SF/Yr
      11,300 SF

      Historic Office and Retail Building

      Five-story building with office and retail space in downtown Milwaukee.
      400 East Wisconsin Avenue, Milwaukee, WI, 53202
      View Details
    • $12 SF/Yr
      3,740 SF

      Downtown Office Space with Views

      Modern office space with amenities and river views available for sublease.
      111 E Wisconsin Ave, Milwaukee, WI
      View Details
    • $25 SF/Yr
      1,620 SF

      Restaurant Space in Milwaukee Eastside

      Second generation restaurant space with parking in Milwaukee's Upper Eastside.
      1515 West North Avenue, Milwaukee, WI, 53205
      View Details

    FAQs

    What type of property is this?
    Serviced office - Unique office spaces fostering collaboration in a dynamic Milwaukee hub.
    Where is this serviced office located?
    The property is located at 507 S 2nd St Milwaukee, WI.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: Multifaceted ecosystem for startups, tech companies, and creative agencies.; Mix of traditional office space and individual offices.; Unique small‑scale offices designed for collaboration.
    (773) 910-2483 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Matthew Fahey
    Learn More
    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

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    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
    507 S 2nd 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!