Riverfront Restaurant
509 E Erie St 6-2 Milwaukee, WI 53202
509 E Erie St 6-2, Milwaukee, WI, 53202
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For Sale
Contact for pricing
Restaurant condo with modern construction, tall timber ceilings, and riverside dining plus an included boat pier.
Property Size6,204 SF
Price / SF$306.25
Days on Market165
Property Features for 509 E Erie St 6-2
General Information
- Standard status
- Active
- Size
- 6,204 SF
- Property subtype
- Retail, Office, Industrial
Building Details
- Year Built
- 2004
Listing agency
Corley Real Estate
(262) 951-8497
Listed by
Paul Monigal · License #66842-94
Source
Crexi
Added: Feb 6 Updated: Jul 20 at 4:56PM Checked: Jul 20 at 4:56PM
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 Corley Real Estate
Investment Insights
Based on property information with market context.
This riverfront restaurant condominium offers a flexible interior with modern construction and abundant natural light. Tall Russian timber ceilings are featured throughout, complemented by high-end custom finishes. A unique spancrete build is described as allowing for a variety of plan configurations while maintaining quiet interior comfort.
The space includes riverside dining and event space, along with an included boat pier. It is positioned in Milwaukee’s Historic Third Ward along the river, near the lake and riverwalk activity, and it is noted as being steps from Trestle Park.
Offered for sale as condominium unit 6-2 at 509 E Erie St in Milwaukee, WI.
The space includes riverside dining and event space, along with an included boat pier. It is positioned in Milwaukee’s Historic Third Ward along the river, near the lake and riverwalk activity, and it is noted as being steps from Trestle Park.
Offered for sale as condominium unit 6-2 at 509 E Erie St in Milwaukee, WI.
Key Highlights
- Year built 2004—modern construction restaurant condo in the Historic Third Ward riverfront area
- Riverside dining space with event space included
- Boat pier included
Local Financial Insights For Specialty 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 | $107.9k | $17.40 |
| − Vacancy | −$6.5k | −$1.04 |
| EGI | $101.5k | $16.36 |
| − OpEx | −$25.4k | −$4.09 |
| NOI | $76.1k | $12.27 |
6,204 SF · lease $17.40/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.09M
$951.3K – $1.27M
NOI $76,104 @ 7.0% cap · market cap 4.01%
Second Best
Retail
$929.7K
$813.5K – $1.08M
NOI $65,077 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,361 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Brisa Do Mar
Restaurant
Similar For Sale Nearby
Similar Off Market Nearby
- Froerdtert hospital — Milwaukee, WI 53202
FAQs
What type of property is this?
Conventional restaurant - Restaurant condo with modern construction, tall timber ceilings, and riverside dining plus an included boat pier.
Where is this conventional restaurant located?
The property is located at 509 E Erie St 6-2 Milwaukee, WI.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Year built 2004—modern construction restaurant condo in the Historic Third Ward riverfront area; Riverside dining space with event space included; Boat pier included
