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The MilWOKY Center 3500 N Sherman Blvd 23,400 SF 95% Leased Office Building Milwaukee, WI 53216 $799,900 ($34.18/SF) 9.75% Cap Rate
Executive Summary
Originally the home of WOKY radio, Milwaukee's first top 40 radio station, this historic, 23,000+ sq ft, highly visible commercial building serves as an accessible local business hub in the Roosevelt Grove/Sherman Park corridor. 3 stories high with BA's on each floor accessed by the modernized elevator (2021), or the front and back stairwells. Security system (2019) for the lobby and back entrances. 2 new boilers (2020) and 3rd and 4th new in 2021. 2 BA's updated to handicap accessible (2024-2025). Eastside building has new electrical panels last 5 yrs. LL has been framed out for potential offices with an updated BA (2026). Surface parking lot in back paved in 2019. Great cash flow with some long term tenants. Convenient to public transportation and fully occupied. Check it out today!
Expected NOI for 2026 to be over 100k!
Letter of intent and/or POF needed to list agent to schedule a showing. Effective 1/1/26, CB will no longer accept Trust Funds or checks for EM deposits. All deposits must be made through Payload, a secure platform that sends a payment link to the buyer or their agent. If this process is unacceptable, please arrange for another entity to hold the EM deposit.
Expected NOI for 2026 to be over 100k!
Letter of intent and/or POF needed to list agent to schedule a showing. Effective 1/1/26, CB will no longer accept Trust Funds or checks for EM deposits. All deposits must be made through Payload, a secure platform that sends a payment link to the buyer or their agent. If this process is unacceptable, please arrange for another entity to hold the EM deposit.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
23,400 SF
Building Class
C
Year Built/Renovated
1958/2021
Price
$799,900
Price Per SF
$34.18
Cap Rate
9.75%
NOI
$78,000
Percent Leased
95%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
7,800 SF
Building FAR
1.58
Lot Size
0.34 AC
Zoning
NS2 - Commercial
Parking
21 Spaces (1.23 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
Three large rooms plus a private office! Suite is directly off the secure lobby and contains kitchenette in one room.
| Space | Size | Space Use | Build-Out | Available |
| 1st Fl-Ste 100 | 1,100 SF | Office | - | Oct 2026 |
1st Fl-Ste 100
| Size |
| 1,100 SF |
| Space Use |
| Office |
| Build-Out |
| - |
| Available |
| Oct 2026 |
1 of 4
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1st Fl-Ste 100
| Size | 1,100 SF |
| Space Use | Office |
| Build-Out | - |
| Available | Oct 2026 |
Three large rooms plus a private office! Suite is directly off the secure lobby and contains kitchenette in one room.
Moderately walkable
60/100
Very drivable
80/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 268-0604-100-8 | Total Assessment | $473,500 |
| Land Assessment | $22,600 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $450,900 | Tax Year | 2025 |
Property Taxes
Parcel Number
268-0604-100-8
Land Assessment
$22,600
Improvements Assessment
$450,900
Total Assessment
$473,500
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
1 of 45
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
