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    Historic Retail and Office Building Title is generated by Realmo AI

    528 Wells Street, Delafield, WI 53018

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    New
    For Sale
    $3,360,000

    Multi-tenant retail and office building with street-level entrances, tall ceilings, and updated mechanical systems in downtown Delafield.

    Type:Retail
    Property size:
    16,744 SF
    Price / SF:
    $200/SF
    Added:
    Jun 29, 2026
    Days on Market:
    7
    Last Refresh:
    Jul 1 at 2:07 am

    Property Features for 528 Wells Street

    General Information

    Standard status
    Active
    Size
    16,744 SF
    Property subtype
    Retail

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    Dan Rosenfeld
    Dan Rosenfeld

    Listing office Mid America Real Estate Milwaukee

    Listing date Jun 29, 2026

    Source Midamericagrp

    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 Mid America Real Estate Milwaukee

    HighLights

    • 16,744 SF multi‑tenant retail and office building in downtown Delafield
    • Multiple street‑level entrances for flexible tenant configurations
    • Tall ceilings with exposed brick and original wood detailing
    • Updated mechanical systems for contemporary retail operations
    • 2027 NOI of $176,192
    • Asking price: $3,360,000; adjacent shared parking

    Overview

    The Retail House at Wells is a distinctive retail and office development with multiple street-level entrances supporting flexible tenant configurations. The building’s interior includes tall ceilings, exposed brick, and original wood detailing, complemented by updated mechanical systems designed for contemporary retail operations. With a structure that can support varied retail layouts while preserving period character, the asset accommodates both storefront-style use and office tenants.

    Located in historic downtown Delafield, the property sits along Delafield’s signature street and is positioned within a walkable, supply-constrained downtown environment described in the offering. The building is currently occupied by a mix of retail and service concepts, including a Wheel & Sprocket bike store, Bartelt Remodeling, Simply Nastural Cleaners, Boutique Wealth Management, and Fairy Face Aesthetic. Ample parking adjacent and shared parking support convenient access for customers and tenants.

    For investors or owner-users seeking a downtown retail asset with established tenant variety and preserved architectural character, this property offers multiple entry points and modernized building systems. It is well suited to operators looking for a distinctive street-level setting for retail or office use, with customer convenience supported by nearby parking.

    Local Financial Insights For 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 $351.6k $21.00
    − Vacancy −$12.7k −$0.76
    EGI $339.0k $20.24
    − OpEx −$101.7k −$6.07
    NOI $237.3k $14.17
    16,744 SF · lease $21.00/SF/yr · vacancy 3.60% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $3.39M
    $2.97M – $3.95M (±1% cap)
    NOI $237,276 @ 7.0% cap · market cap 7.06%
    Second Best
    Office B
    $3.32M
    $2.91M – $3.87M (±1% cap)
    NOI $232,458 @ 7.0% cap · market cap 6.92%
    Theoretical Best
    Flex RnD
    $8.55M
    $7.48M – $9.97M (±1% cap)
    NOI $598,195 @ 7.0% cap · market cap 17.80%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Wheel & Sprocket (Bike/Boat/Book/etc) Store Bartelt. The Remodeling Resource Construction Company YES Electric Electrical Service Morgan Dempsey Capital ... Financial Advisor

    Suggested Use

    Nail Salon Accounting Firm HVAC Service Nursing Home Parking Lot & Garage Electronics & Wireless Store Bakery Grocery & Convenience Store Cosmetic Store (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Delafield
    County
    Waukesha
    State
    Wisconsin
    Longitude
    -88.4045328
    Latitude
    43.059598

    FAQs

    What type of property is this?
    Retail space - Multi-tenant retail and office building with street-level entrances, tall ceilings, and updated mechanical systems in downtown Delafield.
    Where is this retail space located?
    The property is located at 528 Wells Street Delafield, WI.
    What is the asking price?
    The asking price for this property is $3,360,000.
    What are key features of this property?
    This property features: 16,744 SF multi‑tenant retail and office building in downtown Delafield; Multiple street‑level entrances for flexible tenant configurations; Tall ceilings with exposed brick and original wood detailing
    More about this property
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