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U.S. Bancorp 615 E Michigan St 110,636 SF Office Building Milwaukee, WI 53202 $12,500,000 ($112.98/SF) 8% Cap Rate
EXECUTIVE SUMMARY
• Institutional-Grade Credit
Leased to U.S. Bank N.A. (S&P A+ credit rating), providing exceptional
income security and minimal default risk.
• Long-term Lease with Escalations
Recently recommitted to a 7-year Lease with 2% annual rent increases,
supporting long-term value growth and inflation protection.
• Key U.S. Bank Hub Location
This office location near other critical U.S. Bank offices are connected
with a Skywalk making a long-term commitment to this facility very likely.
• Value-Add Opportunity
This Investment Property offers an appealing future rent increase
upside based on current asking rents in this market. This U.S. Bank
Office Property is located in one of the most prestigious Milwaukee
Submarkets of Downtown East.
• Attractive to Passive Investors
This modified gross lease with partial expense recovery delivers
consistent income with low operational oversight.
• Revitalized Downtown Area
This property is located in close proximity to The Couture, a 44-story
high-rise apartment building completed in 2024. The Couture is the most luxurious apartment tower in Milwaukee’s CBD, featuring
322 apartments, 50,000 SF of restaurant and retail spaces.
• Vibrant Young College-Educated Workforce
Counter to several other CBD market areas across the country, Milwaukee’s Downtown area has grown and has attracted a young and
dynamic workforce in recent years.
Leased to U.S. Bank N.A. (S&P A+ credit rating), providing exceptional
income security and minimal default risk.
• Long-term Lease with Escalations
Recently recommitted to a 7-year Lease with 2% annual rent increases,
supporting long-term value growth and inflation protection.
• Key U.S. Bank Hub Location
This office location near other critical U.S. Bank offices are connected
with a Skywalk making a long-term commitment to this facility very likely.
• Value-Add Opportunity
This Investment Property offers an appealing future rent increase
upside based on current asking rents in this market. This U.S. Bank
Office Property is located in one of the most prestigious Milwaukee
Submarkets of Downtown East.
• Attractive to Passive Investors
This modified gross lease with partial expense recovery delivers
consistent income with low operational oversight.
• Revitalized Downtown Area
This property is located in close proximity to The Couture, a 44-story
high-rise apartment building completed in 2024. The Couture is the most luxurious apartment tower in Milwaukee’s CBD, featuring
322 apartments, 50,000 SF of restaurant and retail spaces.
• Vibrant Young College-Educated Workforce
Counter to several other CBD market areas across the country, Milwaukee’s Downtown area has grown and has attracted a young and
dynamic workforce in recent years.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Office
Building Size
110,636 SF
Building Class
B
Year Built/Renovated
1963/2016
Price
$12,500,000
Price Per SF
$112.98
Cap Rate
8%
NOI
$1,000,000
Tenancy
Single
Building Height
4 Stories
Typical Floor Size
27,659 SF
Slab To Slab
12’
Building FAR
2.65
Lot Size
0.96 AC
Zoning
C9F(A) - Commercial
Parking
252 Spaces (2.27 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Signage
1 1
Walk Score®
Walker's Paradise (96)
Transit Score®
Excellent Transit (70)
Bike Score®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 396-0481-000-4 | Improvements Assessment | $6,608,500 |
| Land Assessment | $3,759,500 | Total Assessment | $10,368,000 |
PROPERTY TAXES
Parcel Number
396-0481-000-4
Land Assessment
$3,759,500
Improvements Assessment
$6,608,500
Total Assessment
$10,368,000
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U.S. Bancorp | 615 E Michigan St
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