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

    231 Buffalo St Milwaukee, WI 53202

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

    Historic building, flexible suites available

    Lot size:
    45,000 SF

    Property Features for 231 Buffalo St

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    45,000 SF
    Total Rate
    75000

    Building Details

    Year Built
    1897

    Spaces For Lease

    at 231 Buffalo St, Milwaukee, WI 53202 Contact us
    Unit Suite 503:

    $20 /Mo

    Size
    771 SF
    Contact us
    Unit Suite 100

    $20 /Mo

    Size
    3,445 SF
    Contact us
    Unit Suite 2C

    $20 /Mo

    Size
    1,364 SF
    Contact us
    Unit Suite 506

    $20 /Mo

    Size
    2,575 SF
    Contact us

    We can help!

    Listing Contact
    Patti Stevens
    Patti Stevens

    Listing Agency: Founders 3 Real Estate Services Office & Industrial Brokerage Division Listing Agent: Patti Stevens

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

    Learn more

    Property Insight Report

    Overview

    This exceptional executive office space in Milwaukee's vibrant Third Ward offers a unique opportunity for businesses seeking a prestigious address. Located at 231 E Buffalo Street, this historic building, constructed in 1897, boasts a total of 45,000 square feet, with 8,155 square feet currently available for lease. The space is ideal for multiple tenants, offering flexible suite sizes ranging from a minimum of 771 square feet to a maximum contiguous space of 3,445 square feet. This allows for businesses of various sizes to find a perfect fit within this sought-after location. The building's rich history and character are complemented by modern amenities, making it an attractive option for companies seeking a blend of old-world charm and contemporary functionality. Situated in Milwaukee County, Wisconsin, with a zip code of 53202, this property benefits from excellent accessibility and proximity to various amenities. The address provides a prominent presence in a thriving urban neighborhood. This is a rare opportunity to secure office space in a landmark building within a dynamic and desirable area of Milwaukee. Inquire today to learn more about leasing options and explore the possibilities of establishing your business in this exceptional location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tom Queoff Sculpture Industrial Manufacturer Wizard Works Brewing ... Production Facility Tammy Limbach Gym & Fitness Center Yama Yoga Gym & Fitness Center RPM Bodywork Alternative Medicine Practice

    Suggested Use

    Real Estate Agency Dental Office Spa & Massage Center Hair Salon Restaurant Nail Salon Daycare Center Building Supply Kitchen & Bath Showroom Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9080043
    Latitude
    43.0334824

    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
    • $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
    • $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
    • Contact for pricing

      Spaces North Water Street

      Workspaces, services and support to help you grow your business in Spaces North Water Street
      1433 Water St, Milwaukee, WI 53202
      View Details
    • Contact for pricing

      WI, Wauwatosa - Honey Creek Corporate Center

      Discover many ways to work your way in WI, Wauwatosa - Honey Creek Corporate Center
      9000 Chester St, Milwaukee, WI 53214
      View Details
    • Sponsored
      Contact for pricing

      WI, Milwaukee - S 1st Street

      Flexible workspace in WI, Milwaukee - S 1st Street
      161 1St St, Milwaukee, WI 53204
      View Details
    • Sponsored
      New
      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

      Discover many ways to work your way in Liberty 1 at Park Place
      11414 Park Pl, Milwaukee, WI 53224
      View Details
    • Contact for pricing

      Third Ward

      Discover many ways to work your way in Third Ward
      342 Water St, Milwaukee, WI 53202
      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

    FAQs

    What type of property is this?
    Office property - Historic building, flexible suites available
    Where is this office property located?
    The property is located at 231 Buffalo St Milwaukee, WI.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: Historic Third Ward loft-style office suites with exposed brick and timber.; Locally owned building.; Rooftop deck, open workspaces, pet-friendly, and building signage available.
    (414) 249-2318 Call to check price and availability
    Request Owner's contact information
    231 Buffalo St Milwaukee, WI 53202
    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.
    231 Buffalo St
    Milwaukee, WI 53202
    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
    231 Buffalo St Milwaukee, WI 53202
    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 Patti Stevens
    Patti Stevens
    Real Estate License ID: 9447984
    (414) 249-2318 (414) 243-9282
    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!