Downtown Milwaukee Stand-Alone
725-729 N Milwaukee St Milwaukee, WI
For Sale
Contact for pricing
Turn-key restaurant with upper level office/retail space.
Property Size20,605 SF
Lot Size0.17 Acres
Price / SF$160.16
Days on Market257
Property Features for 725-729 N Milwaukee St
General Information
- Standard status
- Active
- Size
- 20,605 SF
- Lot size
- 0.17 Acres
- Property subtype
- RETAIL
Listing Agency:
Colliers - Milwaukee
(414) 278-6810
Listed By:
Russell Sagmoen · License #8975294
(414) 278-6810
Source:
Moodyscre
Added: Nov 11, 2025
Changed: Jul 10
Last Checked: Jul 21 at 5:37AM
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
Investment Insights
Based on property information with market context.
Located in downtown Milwaukee, one block from the historic Pfister hotel, this stand-alone 3.5 story building offers a turn-key renovated restaurant space. The property includes upper-level office and retail space, with potential for upper-level residential conversion. It presents an ideal opportunity for an owner or occupier. Currently, there is a bar and nightclub tenant in place, generating $120,000 per year. There is also an option for a restaurant tenant leaseback at $96,000 per year. A rare parking opportunity is available in the rear, accommodating 4 to 5 cars. A new EPDM roof was installed in 2021. The property size is 20,605 square feet.
Key Highlights
- Prime downtown Milwaukee location, one block from the historic Pfister hotel.
- Turn‑key renovated restaurant space.
- Current bar/nightclub tenant ($120K/yr).
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 | $358.5k | $17.40 |
| − Vacancy | −$21.5k | −$1.04 |
| EGI | $337.0k | $16.36 |
| − OpEx | −$84.3k | −$4.09 |
| NOI | $252.8k | $12.27 |
20,605 SF · lease $17.40/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$3.61M
$3.16M – $4.21M
NOI $252,762 @ 7.0% cap · market cap 7.66%
Second Best
Retail
$3.09M
$2.70M – $3.60M
NOI $216,136 @ 7.0% cap · market cap 6.55%
Theoretical Best
Office A
$4.95M
$4.33M – $5.78M
NOI $346,609 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Turn key restaurants
FAQs
What type of property is this?
Turn key restaurant - Turn-key restaurant with upper level office/retail space.
Where is this turn key restaurant located?
The property is located at 725-729 N Milwaukee 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: Prime downtown Milwaukee location, one block from the historic Pfister hotel.; Turn‑key renovated restaurant space.; Current bar/nightclub tenant ($120K/yr).
