216 N Water St
Milwaukee, WI 53202
Third Ward · Office Property For Sale

216 North Water Street presents a rare investment opportunity in the heart of Milwaukee’s highly sought-after Third Ward, a premier destination that attracts over one million visitors annually. Positioned directly on North Water Street with approximately 10,100 vehicles per day, the property offers exceptional visibility and exposure. Originally constructed in 1893, this four-story, 12,700-square-foot building with a full basement features a turnkey ground-floor restaurant space ideal for a wide range of operators, while the flexible second through fourth floors are well suited for retail, office, or residential conversion. Zoned Downtown Mixed Activity (C9G), the property is offered well below replacement cost, providing significant savings relative to current land values and construction expenses—an increasingly rare opportunity along Water Street. The location benefits from superior accessibility, just blocks from the Milwaukee Public Market and 333 Water, downtown’s newest apartment development, with immediate access to I-794 carrying approximately 78,000 vehicles per day. Additional conveniences include proximity to a 550-stall city parking deck just half a block away and a short 15-minute drive to Milwaukee Mitchell International Airport, making this a highly connected and compelling asset for investors.