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Executive Summary

Beautiful mixed use turn of century cream city brick building in quickly redeveloping MLK/Bronzeville neighborhood immediately north of the Deer District sports & entertainment corridor.

2 Units Available

  • Unit
  • Unit Size
  • Condo Use
  • Price
  • NOI
  • Unit 9
  • 6,714 SF
  • Office/Retail
  • $1,056,605 CAD ($157.37 CAD/SF)
  • $76,815.20 CAD
Sale Type Investment
Cap Rate 7.27%
Description
In Line unit. East side: Two furnaces (Rheem 115,000 BTU 95% efficient gas furnace), two A/C units (Rheem 5-ton), and one HRV added to serve east furnace (Broan #HRV90, 90CFM). Units installed in 2021. The furnaces are located in the basement.  West side: Two furnaces and A/C units installed in 2006. Located in the mechanical room on the first floor. Two-phase power and reserved parking stalls in the secured adjacent surface lot available as follow: 12 stalls for $48,000 ($4,000 each). Condo fees are $21,300 ($3.17/sf)
Sale Notes
Leased to Pearls for Teen Girls through 7/31/2025 with one remaining 5-year
renewal right.
Rare opportunity to own exceptional storefront office/retail condominium spaces on vibrant Dr. Martin Luther King Jr. Drive with easy on-site and unmetered street parking! Located in the heart of the Brewer’s Hill/Bronzeville commercial district and a stone’s throw from the Deer District and everywhere else you want to be, these units offer attractive and versatile commercial spaces for retail, showroom,
or retail/office work environments. Absolutely a must-see for any organization or retailer needing affordable high-visibility, move-in ready space. This beautifully renovated turn-of-century building offers a high profile, easy-to-find location with convenient freeway access (Marquette exchange for I43 north /south & I94 east/west) plus immediate proximity to downtown, restaurants, shopping, hotels, and entertainment venues. The corner unit is vacant and ready for occupancy, while the other unit is leased and offers a solid income stream to a long-standing quality tenant.
  • Unit 10
  • 1,721 SF
  • Office/Retail
  • $389,276 CAD ($226.19 CAD/SF)
  • -
Sale Type Investment or Owner User
Description
One furnace (Rheem 85,000 BTU gas furnace), and one A/C unit (Rheem 4-ton)
installed 2021. Furnace room accessible from the west residential entry. Condo fees are $5,244 and parking fees are 4 stalls for $16,000 ($4,000 each)
Sale Notes
Rare opportunity to own exceptional storefront office/retail condominium spaces on vibrant Dr. Martin Luther King Jr. Drive with easy on-site and unmetered street parking! Located in the heart of the Brewer’s Hill/Bronzeville commercial district and a stone’s throw from the Deer District and everywhere else you want to be, these units offer attractive and versatile commercial spaces for retail, showroom,
or retail/office work environments. Absolutely a must-see for any organization or retailer needing affordable high-visibility, move-in ready space. This beautifully renovated turn-of-century building offers a high profile, easy-to-find location with convenient freeway access (Marquette exchange for I43 north /south & I94 east/west) plus immediate proximity to downtown, restaurants, shopping, hotels, and entertainment venues. The corner unit is vacant and ready for occupancy, while the other unit is leased and offers a solid income stream to a long-standing quality tenant.
Unit Unit Size Condo Use Price NOI
Unit 9 6,714 SF Office/Retail $1,056,605 CAD ($157.37 CAD/SF) $76,815.20 CAD
Unit 10 1,721 SF Office/Retail $389,276 CAD ($226.19 CAD/SF) -

Unit 9

Unit Size
6,714 SF
Condo Use
Office/Retail
Price
$1,056,605 CAD ($157.37 CAD/SF)
NOI
$76,815.20 CAD

Unit 10

Unit Size
1,721 SF
Condo Use
Office/Retail
Price
$389,276 CAD ($226.19 CAD/SF)
NOI
-

Unit 9

Unit Size 6,714 SF
Condo Use Office/Retail
Price $1,056,605 CAD ($157.37 CAD/SF)
NOI $76,815.20 CAD
Sale Type Investment
Cap Rate 7.27%
Description
In Line unit. East side: Two furnaces (Rheem 115,000 BTU 95% efficient gas furnace), two A/C units (Rheem 5-ton), and one HRV added to serve east furnace (Broan #HRV90, 90CFM). Units installed in 2021. The furnaces are located in the basement.&nbsp;&nbsp;West side: Two furnaces and A/C units installed in 2006. Located in the mechanical room on the first floor. Two-phase power and reserved parking stalls in the secured adjacent surface lot available as follow: 12 stalls for $48,000 ($4,000 each). Condo fees are $21,300 ($3.17/sf)</li></ul>
Sale Notes
Leased to Pearls for Teen Girls through 7/31/2025 with one remaining 5-year<br> renewal right. <br> Rare opportunity to own exceptional storefront office/retail condominium spaces on vibrant Dr. Martin Luther King Jr. Drive with easy on-site and unmetered street parking! Located in the heart of the Brewer’s Hill/Bronzeville commercial district and a stone’s throw from the Deer District and everywhere else you want to be, these units offer attractive and versatile commercial spaces for retail, showroom,<br> or retail/office work environments. Absolutely a must-see for any organization or retailer needing affordable high-visibility, move-in ready space. This beautifully renovated turn-of-century building offers a high profile, easy-to-find location with convenient freeway access (Marquette exchange for I43 north /south &amp; I94 east/west) plus immediate proximity to downtown, restaurants, shopping, hotels, and entertainment venues. The corner unit is vacant and ready for occupancy, while the other unit is leased and offers a solid income stream to a long-standing quality tenant.</li></ul>

Unit 10

Unit Size 1,721 SF
Condo Use Office/Retail
Price $389,276 CAD ($226.19 CAD/SF)
NOI -
Sale Type Investment or Owner User
Description
One furnace (Rheem 85,000 BTU gas furnace), and one A/C unit (Rheem 4-ton)<br> installed 2021. Furnace room accessible from the west residential entry. Condo fees are $5,244 and parking fees are 4 stalls for $16,000 ($4,000 each)</li></ul>
Sale Notes
Rare opportunity to own exceptional storefront office/retail condominium spaces on vibrant Dr. Martin Luther King Jr. Drive with easy on-site and unmetered street parking! Located in the heart of the Brewer’s Hill/Bronzeville commercial district and a stone’s throw from the Deer District and everywhere else you want to be, these units offer attractive and versatile commercial spaces for retail, showroom,<br> or retail/office work environments. Absolutely a must-see for any organization or retailer needing affordable high-visibility, move-in ready space. This beautifully renovated turn-of-century building offers a high profile, easy-to-find location with convenient freeway access (Marquette exchange for I43 north /south &amp; I94 east/west) plus immediate proximity to downtown, restaurants, shopping, hotels, and entertainment venues. The corner unit is vacant and ready for occupancy, while the other unit is leased and offers a solid income stream to a long-standing quality tenant.</li></ul>

Property Facts

The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
Total Building Size 15,702 SF
Property Type Retail
Property Subtype Freestanding
Building Class C
Floors 2
Typical Floor Size 7,851 SF
Year Built 1898
Lot Size 0.26 AC
Parking Ratio 0.13/1,000 SF
Opportunity Zone Yes
Zoning CSC85

Amenities

  • Bus Line
  • Signage
Very walkable
80/100
Moderately drivable
70/100
Good public transit
60/100
Moderately bikeable
70/100

Nearby Major Retailers

Anytime Fitness
Fresh Thyme Market
U.S. Bank
North Shore Bank
NY Pizza Department
HOTWORX
Starbucks
Metro Market
Pick 'n Save
Huntington National Bank
  • Listing ID: 25002833

  • Date on Market: 2022-02-07

  • Last Updated:

  • Address: 1801-1805 N Dr Martin Luther King Jr Dr, Milwaukee, WI 53212

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