2203 W Michigan St 53,834 SF 36% Leased Industrial Building Milwaukee, WI 53233 $2,500,000 ($46.44/SF) 8.49% Cap Rate

2203 & 2200 W Michigan Ave in Milwaukee WI, located in the Marquette University neighborhood, presents an attractive opportunity for an investor or owner operator alike. Ideal location with direct, full service, freeway access within 3 blocks. Close proximity to Downtown Milwaukee. Walkable to public transit. New roof in 2022 with a transferable 10-year warranty. Updated LED lighting throughout, new ceiling mounted Modine heaters. 4 existing covered loading docks, and 1 existing freight elevator. 12-14' clear height throughout. Sprinklers throughout. The ground floor unit was recently renovated and incorporated, deep cleaning (power washing with degreaser), new LED lighting, new 14' overhead door, and paint.
The Multi-Tenant Industrial building at 2203 W Michigan consists of 53,834sf on two levels. 43,965sf on the main level, and an additional 9,869sf on the ground floor. There is currently 24,253sf vacant. 4 existing tenants with long-term leases in place within the building, and 1 existing tenant occupying the parking lot on the west side of the parcel and across the street at 2200 W Michigan.
The lot at 2200 W Michigan is a 24,829sf surface lot currently leased for 3 years generating additional income with zero Landlord responsibility.