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    401-415 Silver Spg Dr Whitefish Bay, WI 53217

    For Sale
    $4,400,000

    Mixed-use building, high occupancy, strong cap rate

    Property size:
    22,294 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional two-story, mixed-use building (22,294 square feet) in Whitefish Bay, Wisconsin, presents a rare investment opportunity. Located at 401-415 East Silver Spring Dr (APN 1980259000), this iconic mid-century modern structure boasts a 4.61% cap rate based on 2023 operating results and an 83.2% overall occupancy rate. The building features 100% retail occupancy and 62.4% office occupancy, with weighted average lease terms of 2.6 years for retail and 1.9 years for office space. The property includes 12 parking spaces and sits on a 0.358-acre lot in the heart of Whitefish Bay's vibrant shopping district, offering high foot traffic and visibility. Built in 1961 and extensively renovated in 2024, the building features a new roof, one passenger elevator, and a gas forced-air HVAC system with rooftop AC condensers. Utilities include municipal water and sewer, along with gas and electric service provided by WE Energies. The property is zoned for business use and offers a blend of retail and office space, making it an attractive investment in a highly desirable location. The building's strong tenant base includes established businesses in the active lifestyle, fitness, and personal care sectors. This is a prime opportunity to acquire a well-maintained, high-performing commercial property in a thriving market.

    Property Features for 401-415 Silver Spg Dr

    General Information

    Property type
    Mixed-use properties
    Square Feet
    22,294 SF
    Lot Size
    15,594 SF

    Building Details

    Year Built/Renovated
    1961/2024
    Stories
    2

    HighLights

    • $4,400,000 asking price for a 22,294 square foot mixed‑use (retail and office) property in Whitefish Bay, WI.
    • 4.61% cap rate based on 2023 EBITDA.
    • 83.2% overall occupancy; 62.4% office occupancy; 100% retail occupancy.
    • 1.9‑year office and 2.6‑year retail weighted average lease term (WALT).
    • Located in a high‑demand, fully developed submarket with strong demographics.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Daycare Center Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Whitefish Bay
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9050922
    Latitude
    43.1183088

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    Nearby Similar for Sale

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      Iconic Mixed-Use Retail Building

      Two-story mixed-use building in the heart of Whitefish Bay.
      401-415 E Silver Spg Dr, Whitefish Bay, WI
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    • $4,100,000
      11,050 SF

      Prime Whitefish Bay Shopping Center

      Exceptional retail portfolio, 100% occupied.
      412 Silver Spg Dr, Whitefish Bay, WI 53217
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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use building, high occupancy, strong cap rate
    Where is this mixed-use property located?
    The property is located at 401-415 Silver Spg Dr Whitefish Bay, WI.
    What is the asking price?
    The asking price for this property is $4,400,000.
    What are key features of this property?
    This property features: $4,400,000 asking price for a 22,294 square foot mixed-use (retail and office) property in Whitefish Bay, WI.; 4.61% cap rate based on 2023 EBITDA.; 83.2% overall occupancy; 62.4% office occupancy; 100% retail occupancy.
    Request Owner's contact information
    401-415 Silver Spg Dr Whitefish Bay, WI 53217
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    Realmo Value Estimation

    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.

    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.

    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
    401-415 Silver Spg Dr Whitefish Bay, WI 53217
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