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FOR LEASE
Investment properties

621 W Historic Mitchell St Milwaukee, WI 53204

28,530 SF 0.32 ac lot Built 2002
Entity Owned 5-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US92-1330913
621 W Historic Mitchell St, Milwaukee, WI 53204 For Lease
$10 SF/Yr
621 W Historic Mitchell St, Milwaukee, WI 53204
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Property summary
AI-generated overview

This exceptional commercial property, located at 621-627 West Historic Mitchell Street in Milwaukee County, presents a unique investment opportunity. The building, formerly a Social Security office, offers a substantial 8,140 square feet of adaptable space, ideal for a variety of professional uses. The property is classified as both office and retail, allowing for flexible tenancy arrangements. Currently, there is one large space available, perfect for a single tenant seeking a prominent location or a business looking to expand. The building's history as a professional office lends itself to a seamless transition for similar businesses, offering established infrastructure and a reputable address. The "Traditional Office" and "Storefront" subtypes suggest a layout that could accommodate both private office spaces and a more public-facing retail area, depending on the tenant's needs. The multiple tenancy designation indicates the potential for subdivision, should a larger tenant desire to lease only a portion of the available space. This prime Milwaukee location offers excellent visibility and accessibility, making it an attractive proposition for businesses seeking a strong presence in a vibrant area. Serious inquiries are encouraged to explore the possibilities of this versatile and historically significant property. The property's size and layout offer significant potential for customization and adaptation to suit a wide range of business requirements. This is a rare opportunity to acquire a substantial space in a desirable Milwaukee location.

Property profile
Verified
Property type Investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 2002
Total area 28,530 SF
Lot 0.32 ac (13,800 SF)
Zoning code LB2
APN 461-0502-100
UPID US92-1330913
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.57M
Blend (final) Blend
$2.80M
Owner & transaction history
Msdoc I LLC · 5 yrs held
Msdoc I LLC
since 2020
4 recorded transactions
2020
Price N/A
2017
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
LB2 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores $4.6M +159.8%
Auto repair, garage $3.4M +92.5%
Apartment house (5+ units) $3.1M +74.1%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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