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Property profile & analytics
FOR LEASE
Medical Office Space

2350 N Lake Dr Milwaukee, WI 53211

162,000 SF 0.83 ac lot Built 2007
Individually Owned Absentee Owner ~ Est. High Equity
Property ID
US92-0479538
Property summary
AI-generated overview

Water Tower Medical Commons offers exceptional medical office space in Milwaukee, Wisconsin. This five-story, 158,820 square foot building, constructed in 2007, is located at 2350 N Lake Dr, Milwaukee, WI 53211, in Milwaukee County. The property features multiple tenancies, with a minimum divisible space of 3,551 square feet and a maximum contiguous space of 11,870 square feet. Currently, there are five available spaces. The building's location provides convenient access for patients and staff. The building is situated near Columbia St. Mary's hospital, and existing tenants represent a variety of medical specialties including Dermatology, Allergy & Immunology, Gastroenterology, Urology, Obstetrics, and Gynecology. Move-in ready spaces are available, and potential tenants may be eligible for tenant improvement allowances to customize their space. This is a fantastic opportunity for medical professionals seeking a modern, well-located, and established medical office building in a thriving Milwaukee neighborhood. The building offers a professional and efficient environment for medical practices of all sizes.

Property profile
Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 2007
Total area 162,000 SF
Lot 0.83 ac (36,155 SF)
Zoning code PD
APN 318-0611-120
UPID US92-0479538
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
  • Dr. Robert Stemberger DDS Dental Office
  • Madison Medical Urology - Water Tower Medical Commons Medical Clinic
  • Plastic Surgery Clinic Medical Clinic
  • Carissa Aboubakare, APNP Physician
  • Ascension Wisconsin Premier Radiology Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$28.74M
Comparable Approach Comparable
$24.12M
Blend (final) Blend
$30.86M
Owner & transaction history
Centurion Foundation Se Wisconsin L
Centurion Foundation Se Wisconsin L
since 2025
Last sale
$40.9M
2 recorded transactions
2025
$40.9M
2025
Price N/A
Zoning & alternative use
PD · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units) $41.6M +149.2%
Commercial (general) $23.0M +37.9%
Restaurant $20.6M +23.5%
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