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    600 Virginia St Milwaukee, WI 53204

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    For Lease
    Contact for pricing

    Historic Milwaukee Creative Office Suites

    Lot size:
    67,760 SF

    Property Features for 600 Virginia St

    General Information

    Property type
    Office Units
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    67,760 SF
    Total Rate
    90346.67

    Building Details

    Year Built
    1913
    Stories
    7

    Spaces For Lease

    at 600 Virginia St, Milwaukee, WI 53204 Contact us
    Unit Suite 201

    $17 /Mo

    Size
    1,976 SF
    Contact us
    Unit Suite 502

    $17 /Mo

    Size
    4,706 SF
    Contact us
    Unit Suite 400

    $17 /Mo

    Size
    9,680 SF
    Contact us
    Unit Suite 601

    $17 /Mo

    Size
    3,091 SF
    Contact us
    Unit Suite 202

    $17 /Mo

    Size
    3,500 SF
    Contact us
    Unit Suite 203

    $17 /Mo

    Size
    830 SF
    Contact us
    Unit Suite 100

    $17 /Mo

    Size
    3,129 SF
    Contact us
    Unit Suite 101

    $17 /Mo

    Size
    2,790 SF
    Contact us
    Unit Suite 503

    $17 /Mo

    Size
    489 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Ned Purtell
    Ned Purtell

    Listing Agency: Founders 3 Real Estate Services - Corporate Listing Agent: Ned Purtell

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

    Learn more

    Overview

    The Atlas Building, a stunning seven-story brick and beam structure built in 1913, offers unique creative office spaces in Milwaukee County. Originally the heart of the Pfister and Vogel Leather Company's tannery operations, and later a U.S. Customs bonded warehouse, this building now presents a blend of historical charm and modern amenities. With a total of 67,760 square feet, the building offers multiple tenancy options, ranging from a minimum divisible space of 489 square feet to a maximum contiguous space of 9,680 square feet. Currently, 30,191 square feet are available. The building features a modern lobby, striking city views, and unique octagonal pillars, creating a truly one-of-a-kind workspace. Parking is provided at a rate of three spaces per 1,000 square feet leased. This exceptional property presents a rare opportunity to lease in a historically significant building with modern conveniences, ideal for businesses seeking a distinctive and inspiring office environment. Nine spaces are currently available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Butane Digital Advertising Agency Milwaukee Coalition For Children's ... Medical Clinic Vierbicher General Contractor Wisconsin Family Assistance ... Charitable Organization Rachel E. Gonzalez, ... Pharmacy

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Law Firm 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
    -87.9191925
    Latitude
    43.0273133

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    FAQs

    What type of property is this?
    Office units - Historic Milwaukee Creative Office Suites
    Where is this office units located?
    The property is located at 600 Virginia St Milwaukee, WI.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: The Atlas Building, a 67,760 square foot, seven-story creative office building in Milwaukee County.; Multiple tenants occupy this 1913-built property, offering spaces ranging from 489 to 9,680 contiguous square feet.; Currently, 30,191 square feet of office space is available.
    (414) 271-1111 Call to check price and availability
    Request Owner's contact information
    600 Virginia St Milwaukee, WI 53204
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    Milwaukee, WI 53204
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    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
    600 Virginia St Milwaukee, WI 53204
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ned Purtell
    Ned Purtell
    Real Estate License ID: 9052622
    (414) 271-1111 (414) 801-3999 (414) 249-2330
    Learn more
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