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Property profile & analytics
FOR LEASE
Warehouses

507 S 2Nd St Milwaukee, WI 53204

130,900 SF 0.64 ac lot Built 1928
Entity Owned 8-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US92-0819758
Property summary
AI-generated overview

The Eagleknit Building, located at 507 S 2nd St, Milwaukee, WI 53204, offers a unique opportunity for businesses seeking creative office space. This two-story building boasts a total of 84,000 square feet, currently entirely vacant and available for lease. The property is classified as both Creative Office and Retail, offering versatile options for tenants. Spaces are divisible down to a minimum of 1,000 square feet, with a maximum contiguous space of 50,000 square feet, allowing for flexibility to accommodate various business needs and sizes. Ample parking is provided with 200 spaces available for tenants and their clients. The building's prime location in Milwaukee offers excellent access to the city's amenities and transportation networks. This is an exceptional opportunity to secure a significant amount of high-quality, adaptable space in a vibrant urban setting. The building's flexible layout and substantial square footage make it ideal for a variety of businesses, from startups to established companies seeking expansion. Contact us today to learn more about leasing options and explore the possibilities of establishing your business at the Eagleknit Building.

Property profile
Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1928
Total area 130,900 SF
Lot 0.64 ac (28,000 SF)
Zoning code IM
APN 428-0407-000
UPID US92-0819758
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
  • REYN Engineering Structural Engineer
  • Tri-Marq Communications, Inc. Film Production Television Studio
  • Christine Plamann Photography Photography Service (Bike/Boat/Book/etc) Store
  • SRH Advertising Agency Marketing & Advertising
  • i.c.stars |* Milwaukee Employment Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$8.91M
Comparable Approach Comparable
$10.83M
Blend (final) Blend
$8.44M
Owner & transaction history
507 South 2nd Street Development Ll · 8 yrs held
507 South 2nd Street Development Ll
since 2017
4 recorded transactions
2019
Price N/A
2017
$3.5M
2012
Price N/A
1969
Price N/A
Zoning & alternative use
IM · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

Industrial-Mixed IM none 8 Industrial-Heavy IH I/A125 and I/B/85 8 Special Districts and Overlay Zones Parks PK none 9 Institutional TL all T districts 9 Planned Development PD and DPD GPD and DPD 9 Redevelopment RED none 9 Neighborhood Conservation NC none 10 Interim Study IS none 10 Development Incentive DIZ DIZ 10 Site Plan Review SP SPROD 10 Shoreland-We…

Zone name Industrial Mixed
General category INDUSTRIAL
Source Master V2
Top alternative use upside
Medical building $13.5M +90.6%
Restaurant $12.9M +81.7%
Neighborhood: shopping center $12.2M +72.3%
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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