1 Milwaukee St Janesville, WI 53545-3029

Property Details for 1 Milwaukee St

Year built

1960

Lot size

0.29 lot acres

Property size

23,894 SF

Zone code

B5

Property type

Commercial real estate

APN

136100325

APU

136100325

Description

This exceptional three-story, Class B office building, located at 1 E Milwaukee St, Janesville, WI 53545, presents a compelling investment opportunity. Boasting 23,803 square feet on a 12,664 square foot lot, the property is zoned B5 Central Business and offers a blend of creative, medical, and traditional office spaces. Currently, the building has three tenants: Rhyme Business, WISCO Insurance, and Turke & Strauss Attorneys, occupying approximately 40% of the space. The first floor is partially vacant, and the third floor is entirely vacant, providing immediate potential for increased revenue. Separate entrances cater to each tenant's needs. The building benefits from its prime location at the intersection of Main and Milwaukee Streets in the heart of downtown Janesville's business district, surrounded by local shops, restaurants, Rock County Services, and the courthouse. The River Walk runs along the building's rear, adding to its appeal. The asking price is $625,000, representing a compelling $26.26 per square foot and an 8.00% cap rate. This multi-tenant property offers a unique opportunity to acquire a well-situated office building with significant upside potential in a thriving downtown area. The property is for sale by owner.

Location Insight

City

Janesville

County

Rock

State

Wisconsin

Longitude

-89.0231

Latitude

42.683

CBSA code

27500

CBSA name

JANESVILLE, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments