904 1st St Milwaukee, WI 53204-1817

Property Details for 904 1st St

Year built

1885

Lot size

0.04 lot acres

Property size

1,538 SF

Zone code

IM

Property type

Investment properties

Property subtype

Live-work space

APN

431-0966-000

APU

4310966000

Description

This mixed-use building, located at 904 S 1st St in Milwaukee, Wisconsin, presents a compelling value-add investment opportunity. The 1,538 square foot property, built in 1890, features two units and sits on a 1,538 square foot lot. Currently vacant, this two-story building offers significant potential for renovation and increased profitability. The property is zoned IM (Industrial Mixed), allowing for a variety of approved uses, details of which can be found on the City of Milwaukee website. The building's prime location in the desirable Walker's Point, Third Ward, and Harbor View neighborhoods places it on a high-traffic corridor, State Highway 32 (1st St) & E. Walker St., ensuring high visibility. The asking price is $289,900, translating to $188.49 per square foot. Potential revenue streams could be enhanced through storefront advertising, given the high traffic volume. The property includes a fenced backyard, which may offer possibilities for additional parking spaces, subject to city approval. Renovation options include converting the existing one-bedroom apartment into a two-bedroom unit to maximize rental income. Financing options include a land contract or owner financing. Furthermore, the City of Milwaukee offers grants for signage, exterior facade updates, and storefront renovations for new business owners in 2025, with a maximum grant amount potentially reaching $50,000. The property's strategic location offers proximity to numerous amenities, including Summerfest, marinas, nightlife, breweries, shops, restaurants, and Lake Michigan. This property is being sold in a distressed condition and requires renovation.