Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    333 State St Milwaukee, WI 53203

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime Milwaukee Retail, 5,000-18,000 SF

    Lot size:
    18,000 SF

    Property Features for 333 State St

    General Information

    Property type
    Specialty properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    18,000 SF

    Building Details

    Year Built/Renovated
    1924/2020
    Buildings
    1
    Stories
    6

    Spaces For Lease

    at 333 State St, Milwaukee, WI 53203 Contact us

    We can help!

    Listing Contact
    Mike Fitzgerald
    Mike Fitzgerald

    Listing Agency: Mid America Real Estate Milwaukee Listing Agent: Mike Fitzgerald

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Journal Commons presents a unique investment opportunity in Milwaukee's vibrant Entertainment District. This iconic, six-story building, originally constructed in 1924 and extensively renovated in 2020, offers a total of 18,000 square feet of prime retail space. The property boasts a highly desirable location at the intersection of State Street and Vel R. Phillips Avenue, ensuring high visibility and foot traffic. The building is available for lease as a whole (18,000 square feet) or in divisible units with a minimum of 5,000 square feet. This allows for flexibility to accommodate a variety of retail concepts, from single large tenants to multiple smaller businesses. The building's historical character, combined with its modern renovations, creates a truly exceptional setting for any business seeking a unique and memorable presence in the heart of Milwaukee. The presence of elevators within this multi-story building adds to its functionality and accessibility. This is a rare chance to secure a prominent retail space in a thriving, historic district. The property's blend of historical charm and modern amenities makes it an ideal location for businesses seeking a distinctive and high-impact presence. The building's size and layout offer significant potential for a variety of retail uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Journal Commons Apartment Building LOCALiQ Marketing & Advertising

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.916234278309
    Latitude
    43.04292165265

    Nearby Similar for Lease

    • $1,850 /Mo
      9,688 SF

      Office Space in Granville District

      Office spaces available in Milwaukee's Granville Business District.
      9316 N 107Th St, Milwaukee, WI 53224
      View Details
    • New
      $60,000
      1,800 SF

      Adaptable Space in Milwaukee, WI

      1800 sq ft flexible space suitable for various community initiatives.
      4441 W Fond Du Lac Ave, Milwaukee, WI 53216
      View Details
    • $550 /Mo
      9,688 SF

      Corner Office Space in Milwaukee

      Office space for lease in Granville Business District, Milwaukee.
      9310 N 107Th St, Milwaukee, WI 53224
      View Details
    • $400 /Mo
      9,688 SF

      Milwaukee Office Space with Parking

      Office space in Milwaukee's Granville Business District for rent.
      9310 N 107Th St, Milwaukee, WI 53224
      View Details
    • $550 /Mo
      110 SF

      Furnished Office Spaces Available

      Furnished offices with shared amenities in Shorewood, Wisconsin.
      1200 E Capitol Dr, Milwaukee, WI 53211
      View Details
    • $450 /Mo
      400 SF

      Serviced Offices For Rent

      Serviced offices available with utilities included and shared amenities.
      10303 W Oklahoma Ave, Milwaukee, WI 53227
      View Details
    • New
      $520,000
      17,950 SF

      Milwaukee Multifamily Investment Opportunity

      Eight-unit multifamily property with value-add potential and stable tenancy.
      3602-3606 N Sherman Blvd, Milwaukee, WI 53216
      View Details
    • Sponsored
      Contact for pricing

      Downtown Milwaukee

      Workspaces, services and support to help you work better in Downtown Milwaukee
      250 Wisconsin Ave, Milwaukee, WI 53202
      View Details
    • Contact for pricing

      Liberty 1 at Park Place

      Workspaces, services and support to help you work better in Miami Airport
      11414 Park Pl, Milwaukee, WI 53224
      View Details
    • Contact for pricing

      Third Ward

      Discover many ways to work your way in IL, Oak Brook - Oak Brook Pointe
      342 Water St, Milwaukee, WI 53202
      View Details
    • Contact for pricing

      Spaces North Water Street

      Discover many ways to work your way in AZ, Tempe - Hayden Ferry Lake
      1433 Water St, Milwaukee, WI 53202
      View Details
    • Contact for pricing

      WI, Wauwatosa - Honey Creek Corporate Center

      Workspaces, services and support to help you work better in Shelton
      9000 Chester St, Milwaukee, WI 53214
      View Details

    FAQs

    What type of property is this?
    Specialty property - Prime Milwaukee Retail, 5,000-18,000 SF
    Where is this specialty property located?
    The property is located at 333 State St Milwaukee, WI.
    What are key features of this property?
    This property features: Historic six-story retail building totaling 18,000 square feet.; Located in Milwaukee's Entertainment District at State Street and Vel R. Phillips Ave.; Recently renovated in 2020.
    (262) 613-3888 Call to check price and availability
    Request Owner's contact information
    333 State St Milwaukee, WI 53203
    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.
    333 State St
    Milwaukee, WI 53203
    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
    333 State St Milwaukee, WI 53203
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Mike Fitzgerald
    Mike Fitzgerald
    Real Estate License ID: 5555294
    (262) 613-3888
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!