140 S 1St St, Milwaukee, WI 53204
- Office buildings
- 28,500 SF
- 0.61 lot acres
Current Use by Public Records
- Town Bank / Bank / Loan Service
- Jeffrey Oles, DC / Alternative Medicine Practice
- Chiropractic Company of Milwaukee Third Ward / Alternative Medicine Practice
- Dr. Peter Bradshaw / Physician / Medical Clinic
- STIR Advertising & Integrated Messaging / Advertising Agency / Marketing & Advertising
Property Details for 140 S 1St St
- Year built
- 2007
- Lot size
- 0.61 lot acres
- Zone code
- IM
- Property type
- Office buildings
- APN
- 428-0972-000
- APU
- 4280972000
Description
This exceptional three-story, 28,779 square foot Class B multi-tenant building presents a compelling investment opportunity in the heart of downtown Milwaukee, Wisconsin. Built in 2007, the property boasts a desirable location at 140 S 1st St, 53204, and features a mix of established tenants including a bank, chiropractic office, furniture retailer, and a restaurant, currently operating at 80% occupancy. The building offers a substantial 25,911 square feet of net rentable space, priced at $156.19 per square foot, with a total asking price of $4,495,000. Ample parking is a key feature, including 19 underground spaces and 23 surface spaces, plus 15 additional offsite spaces within a block. The property sits on a 0.609-acre lot and benefits from IM, Industrial-Mixed Use zoning, allowing for flexibility and potential future development. Currently, there is approximately 1,854 square feet of available retail space on the first floor and approximately 2,326 square feet of available office space on the second floor, offering potential for increased revenue. The building features exterior signage opportunities, subject to municipal approval. Lease terms are NNN, with rent bumps included. This property offers a strong cash flow with significant upside potential. The property's APN is 4280972000.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $3,503,000
Market price range: $1.20M - $3.50M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $2,260,000 Current use
- RETAIL STORES
- $4,585,000 Change: +103% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $3,400,000 Change: +51% Conversion: Difficult
- APARTMENT HOUSE (5+ UNITS)
- $3,075,000 Change: +36% Conversion: Easy
- MEDICAL BUILDING
- $2,935,000 Change: +30% Conversion: Easy
- RESTAURANT
- $2,800,000 Change: +24% Conversion: Moderate
- NEIGHBORHOOD: SHOPPING CENTER
- $2,650,000 Change: +17% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Milwaukee
- County
- Milwaukee
- State
- Wisconsin
- Longitude
- -87.9103
- Latitude
- 43.0299
- CBSA code
- 33340
- CBSA name
- MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA
