Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2117 Center St Milwaukee, WI 53206

    Sponsored
    For Lease
    $6 SF/Yr ($4,222 /Mo)

    8,444 SF Vacant Retail Building

    Lot size:
    8,444 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    409
    This exceptional 8,444-square-foot retail space, located at 2117 W Center St in Milwaukee, Wisconsin, presents a significant opportunity for a single-tenant business. Situated in Milwaukee County, zip code 53206, this property boasts a prime location with excellent visibility and accessibility. The entire building is currently vacant, offering a blank canvas for a new tenant to customize the space to their specific needs. The property's classification is retail commercial, making it ideal for a wide range of businesses. The building's substantial size provides ample room for inventory, display, and operations. Its single-tenant occupancy ensures exclusive use and control of the entire premises. The address is easily accessible for customers and employees alike, contributing to a potentially high volume of foot traffic. This property is available for lease and represents a rare opportunity to secure a large, well-located retail space in a thriving Milwaukee neighborhood. Interested parties are encouraged to inquire for further details and leasing information. The property's latitude and longitude coordinates are 43.0676445 and -87.9396437 respectively. This is a fantastic chance to establish a strong retail presence in a desirable Milwaukee location.

    Property Features for 2117 Center St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    8,444 SF
    Total Rate
    4222

    Unit(s) available at that property

    Space
    Available Space
    Size
    8,444 SF
    Rate per SF
    $6

    We can help!

    Listing Contact
    Conor Farrell
    Conor Farrell

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Family Dollar Dollar Store LibertyX Bitcoin ATM Atm Los Tres Jarochos ... Food Bank

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9396437
    Latitude
    43.0676445

    Nearby Similar for Lease

    • $200,000
      4,785 SF

      Milwaukee Recreation/Special Purpose Property

      Recreation/Special Purpose property with income potential in Milwaukee, WI.
      5048 N 35Th St, Milwaukee, WI 53209
      View Details
    • $4,800 /Mo
      3,654 SF

      Versatile Office Space in Milwaukee

      Spacious office with ample natural light and high visibility.
      510 N 27Th St, Milwaukee, WI 53208
      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
    • $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
    • $1,850 /Mo
      9,688 SF

      Professional Office Space in Milwaukee

      Office spaces available in Granville Business District, Milwaukee.
      9316 N 107Th St, Milwaukee, WI 53224
      View Details
    • $550 /Mo
      9,688 SF

      Milwaukee Office Space For Lease

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

      Office Space in Granville District

      Office space for rent in Milwaukee's Granville Business District.
      9310 N 107Th St, Milwaukee, WI 53224
      View Details
    • $22 SF/Yr
      1,040 SF

      Historic Germania Building Office Suite

      Move-in ready office space in downtown Milwaukee's Germania Building.
      135 W Wells St, Milwaukee, WI 53203
      View Details
    • Contact for pricing

      Restored Landmark Office Space

      Architecturally significant office building in Glendale, Wisconsin.
      4425 North Port Washington Rd, Milwaukee, WI 53212
      View Details
    • Contact for pricing
      152,800 SF

      Rawson Avenue Business Center II

      Oak Creek, WI: Versatile Industrial/Office Space
      7126 Millers Way, Milwaukee, WI 53214
      View Details
    • $20 SF/Yr
      1,099 SF

      New Retail Space in Walker's Point

      Retail storefronts in new mixed-use development on vibrant Florida Street.
      300-316 W Florida St, Milwaukee, WI 53204
      View Details
    • $15 SF/Yr
      8,140 SF

      Historic Mitchell Street Office Space

      Milwaukee Office: 8,140 sq ft Available
      621 Historic Mitchell St, Milwaukee, WI 53204
      View Details

    FAQs

    What type of property is this?
    Retail property - 8,444 SF Vacant Retail Building
    Where is this retail property located?
    The property is located at 2117 Center St Milwaukee, WI.
    What is the lease rate?
    The lease rate is $6 SF/Yr.
    Request Owner's contact information
    2117 Center St Milwaukee, WI 53206
    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.
    2117 Center St
    Milwaukee, WI 53206
    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
    2117 Center St Milwaukee, WI 53206
    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!
    Listing Contact
    Conor Farrell
    Conor Farrell
    Real Estate License ID: WI 89608-94
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.