907 1st St Milwaukee, WI 53204-1818
This exceptional three-story retail building, located at 907 S 1st St in Milwaukee, Wisconsin, presents a unique investment opportunity. Boasting 44,433 square feet of space, this historic structure, built in 1907, sits on a 0.803-acre lot (APN 4310949111) and is zoned IM Industrial-Mixed, offering considerable flexibility for future development. The asking price is $2,800,000. The property's prime location in the desirable Walker's Point/Fifth Ward neighborhood is a significant advantage. A key feature is the inclusion of an adjacent parking lot within the sale, addressing a crucial need for retail spaces. The building's three stories above ground present potential for conversion and adaptive reuse, allowing for creative expansion or modification to suit a variety of commercial needs. This historic building offers a blend of character and potential, making it an attractive proposition for investors seeking a substantial property in a thriving Milwaukee neighborhood. The property's size and zoning provide ample opportunity for a range of commercial ventures. The inclusion of the adjacent parking lot further enhances its appeal and practicality. This is a rare chance to acquire a significant piece of Milwaukee's commercial real estate landscape.
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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…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
IM · Milwaukee, WIIndustrial-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-Wetland WL Shoreland-Wetland 10 Lakefront LF LF/C/60 10 Master Sign Program MSP none 10 Floodplain FW, FF, FSD and GF FP1 and FP2 11 Zoning 295-109 -655- 10/13/2009 295-109. Zoning Map. 1. GENERAL. All land in the city is zoned in accordance with the zoning map available in the office of the city plan commission. 2. NEW OR UNCLASSIFIED LAND. Any land not currently shown on the zoning map or any land annexed to the city shall be classified as RS2 until a zoning amendment establishes a different zoning classification in accordance with the city's comprehensive plan. 3. COMBINING OR DIVIDING P ROPERTY. To insure that the zoning of property reflects its suitability for specific uses, the combination or division of lots will only be permitted if the lot or lots created meet the requirements of this c hapter and each lot is located wholly within one base zoning district. If a land combination or division resulting from a right -of-way vacation will result in a lot being located in 2 zoning districts, the commissioner shall assign a single zoning designation to the lot, that designation being the zoning district in which the majority of the lot is located. 4. DISTRICT BOUNDARIES. The following rules shall be used to establish the precise location of any zoning district boundary line shown on the zoning map: a. Except as provided in par. c, every dist rict boundary line shall coincide with a property line. The centerlines of streets, alleys, railroads and watercourses shall not be district boundary lines except that, in the case of a watercourse, if the centerline of the watercourse is a property line, the centerline may also be a district boundary line. b. If a street, alley or other public right-of-way is vacated, the vacated land will assume the zoning of the adjoining parcel, as determined by the commissioner. c. The boundaries of an overlay zone established pursuant to subch. 10 need not coincide with property lines. 295-111. Interpretation. In their interpretation and application, the provisions of this chapter shall be held to be the minimum requirements adopted for the promotion of the public health, safety and general welfare.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.