Technical
Financial
Distress signals
Property profile

2350 N Lake Dr Milwaukee, WI 53211

FOR LEASE
Medical Office Space
Property ID
US92-0479538
162,000 SF 0.83 ac lot Built 2007
Individually Owned Absentee Owner ~ Est. High Equity
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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

Current use

Occupant on record · Public records
  • Dental Office
  • Medical Clinic
  • Medical Clinic
  • Physician
  • Medical Clinic

Location

2350 N Lake Dr Milwaukee, WI 53211
Milwaukee metro Census 7600 MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA
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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

since 2025
Last sale
$40.9M
2 recorded transactions
2025
$40.9M
2025
Price N/A

Zoning & alternative use

PD · Milwaukee, WI
Zoning description

295-907. Planned Development District (PD/DPD). 1. PURPOSES. The planned development district is intended to: a. Allow flexibility in land development. b. Promote creativity, variety and environmental sensitivity. c. Enc…

General category PLANNED_DEVELOPMENT
Top alternative use upside
Apartment house (5+ units) $41.6M +149.2%
Commercial (general) $23.0M +37.9%
Restaurant $20.6M +23.5%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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