Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Keghouse Office Space Available Title is generated by Realmo AI

    111 W Pleasant St, Milwaukee, WI 53212

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Office units for rent in Schlitz Park.

    Type:Office
    Added:
    Dec 7, 2022
    Days on Market:
    1269
    Last Refresh:
    May 12 at 9:09 pm

    Property Features for 111 W Pleasant St

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1901

    Spaces For Lease

    at 111 W Pleasant St Contact us

    We can help!

    Listing Contact
    Jim Cavanaugh

    Listing agent Jim Cavanaugh License #WI

    Listing office Cushman & Wakefield | Boerke

    Listing date Dec 7, 2022

    Source Crexi

    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 Cushman & Wakefield | Boerke

    HighLights

    • Branding opportunities for smaller tenants.
    • Access to all amenities at Schlitz Park.
    • Two‑story atrium.
    • Impressive ceiling heights.
    • Located in the Keghouse.
    • Built in 1901.

    Overview

    The Keghouse offers office units for rent. The property features a two-story atrium and impressive ceiling heights. Smaller tenants can benefit from branding opportunities and access to the amenities at Schlitz Park.
    Property Profile Location Intelligence

    Current Use by Public Records

    Humana Inc Insurance Agency Iverson Language Associates ... Translation Service FedEx Drop Box Postal Service National General Insurance Insurance Agency DCMA Careers Employment Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9117806
    Latitude
    43.0522022

    Nearby Similar for Lease

    • $2,500/Mo
      2,947 SF

      Office Space in Granville District

      Office space with shared amenities in Granville Business District.
      9316 N 107th St, Milwaukee, WI 53224
      View Details
    • $3,000/Mo
      2,000 SF

      High-Visibility Milwaukee Commercial Space

      Versatile 2,000 sq ft space ideal for professional services.
      5022 S 27th St, Milwaukee, WI 53221
      View Details
    • $2,000/Mo
      4,560 SF

      High-Traffic Retail/Office Space Available

      Well-kept building with great visibility, perfect for various businesses.
      5128 W Center St, Milwaukee, WI 53210
      View Details
    • $550/Mo
      110 SF

      Furnished Office Spaces Available

      Furnished offices with shared amenities in Shorewood, Wisconsin.
      1200 E Capitol Dr, Shorewood, WI 53211
      View Details
    • $129-$3,146/Mo
      11-1,292 SF

      WI, Wauwatosa - Honey Creek Corporate Center

      9000 Chester St, Unit 100, Milwaukee, WI 53214
      View Details
    • Sponsored
      $129-$5,993/Mo
      11-1,292 SF

      WI, Milwaukee - S 1st Street

      161 1St St, Unit 3RD, Milwaukee, WI 53204
      View Details
    • $129-$6,839/Mo
      11-1,875 SF

      Spaces North Water Street

      1433 Water St, Unit 400, Milwaukee, WI 53202
      View Details
    • $129-$3,479/Mo
      11-1,292 SF

      Liberty 1 at Park Place

      11414 Park Pl, Unit 202, Milwaukee, WI 53224
      View Details
    • $129-$3,028/Mo
      11-1,292 SF

      Third Ward

      342 Water St, Unit 600, Milwaukee, WI 53202
      View Details
    • Sponsored
      Contact for pricing
      10-1,292 SF

      Downtown Milwaukee

      250 Wisconsin Ave, Unit 18TH, Milwaukee, WI 53202
      View Details
    • $18 SF/Yr
      11,300 SF

      Historic Office and Retail Building

      Five-story building with office and retail space in downtown Milwaukee.
      400 East Wisconsin Avenue, Milwaukee, WI, 53202
      View Details
    • $2,468/Mo
      3,468 SF

      Historical Railway Exchange Retail Space

      Retail space available in historic Railway Exchange building.
      231 E Wisconsin Ave, Milwaukee, WI 53202
      View Details

    FAQs

    What type of property is this?
    Office units - Office units for rent in Schlitz Park.
    Where is this office units located?
    The property is located at 111 W Pleasant St Milwaukee, WI.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: Branding opportunities for smaller tenants.; Access to all amenities at Schlitz Park.; Two‑story atrium.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jim Cavanaugh
    Real Estate License ID: WI
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    111 W Pleasant St, Milwaukee, WI 53212
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!