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Property profile & analytics
FOR LEASE
Warehouses

215 N Water St Milwaukee, WI 53202

27,530 SF 0.13 ac lot Built 1906
Entity Owned 6-yr Hold ~ Est. High Equity
Property ID
US92-0002768
Property summary
AI-generated overview

This exceptional 26,109 square foot creative office building, constructed in 1906 and renovated in 2016, offers a unique opportunity in Milwaukee's vibrant Third Ward. The property features three suites, with 11,200 square feet currently vacant and divisible into spaces as small as 2,500 square feet, allowing for flexibility to accommodate various business needs. The building boasts five stories and seven parking spaces. A key advantage is its prime location, directly across from the Third Ward Parking Structure and offering convenient river access, including a potential boat slip. The fifth-floor suite includes a private mezzanine and rooftop patio. For a truly turnkey solution, some existing furniture and installed cabling are available. The smaller floor plates are ideal for single-floor occupancy, and there's potential to subdivide for tenants requiring approximately 2,000 square feet. This move-in ready space presents a rare chance to establish a presence in this highly sought-after Milwaukee neighborhood. The address is 215 N Water Street, Milwaukee, WI 53202, with a cross street of E Chicago Street.

Property profile
Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1906
Total area 27,530 SF
Lot 0.13 ac (5,520 SF)
Zoning code C9G
APN 392-0955-000
UPID US92-0002768
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Dinvy, LLC (Bike/Boat/Book/etc) Store Corporate Office
  • Andrews Gordon T MD Physician
  • Vrad Nighthawk Medical Clinic
  • Racon Capital Partners, LLC Financial Advisor
  • A Trio Jewelry Design Studio (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$1.88M
Comparable Approach Comparable
$1.21M
Blend (final) Blend
$1.54M
Owner & transaction history
Revel 215 Water LLC · 6 yrs held
Revel 215 Water LLC
since 2019
6 recorded transactions
2019
$4.5M
2016
$4.4M
2016
$3.4M
2006
Price N/A
2006
$1.0M
1969
Price N/A
Zoning & alternative use
C9G · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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