Downtown Milwaukee Stand-Alone
For Sale
Contact for pricing
725-729 N Milwaukee St, Milwaukee, WI
Turn-key restaurant with upper level office/retail space.
Property Size20,605 SF
Lot Size0.17 Acres
Price / SF$160.16
Days on Market268
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,650
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Milwaukee, WI
Questions? Ask Rey
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Frequently Asked Questions
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).
