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Listed by Ted Schaar • RE/MAX United - Cedarburg
$ 319,000
Est. payment | /mo
6,792 SqFt
$ 319,000
Est. payment | /mo
6,792 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 6,792 sqft
Price per Sqft $46
MLS Listing ID 1986003
Year Built 1928
Annual Tax Amount $7,283
Tax Year 2025
Lot Size 8,276 Sqft
Acres 0.19
Property Description
Priced under assessment! Room for rental growth! 6 of 8 spaces are leased, and the street-level commercial tenant is locked in through July 2029, with annual rent increases. One studio remains to lease: at its $550 asking rent, scheduled gross climbs from $62,760 to $69,360 per year, for a projected 11.2 cap rate. Unit 2220-3 is sold as-is, so a buyer who finishes it adds another $8,340 a year in potential rent. The heavy lifting is done: new rubber roof with a transferable warranty and about $31,000 in recent improvements. Bus line at the door and 7,400 cars a day passing the storefront. A full offering memorandum with rent roll, lease summary and pro forma is available!
Location
State WI
County Milwaukee
Zoning LB2
Rooms
Basement Block, Full
Interior
Heating Forced Air, Indiv. Heating Units, Natural Gas
Cooling Forced Air, Indiv. Heating Units, Natural Gas
Flooring No
Exterior
Exterior Feature Brick
Garage Spaces 7.0
Roof Type Rubber
Building
Water Municipal Sewer, Municipal Water
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