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1818 N Dr Martin Luther King Jr Dr 7,542 SF Office Building Milwaukee, WI 53212 $3,772,272 CAD ($500.17 CAD/SF) 7.75% Cap Rate
Investment Highlights
- Backed by the U.S. Government, the tenant carries an AA+ credit rating from S&P.
- Occupied by a long-term VA tenant whose services make the site essential to federal operations.
- Provides 3% annual shell rent increases for consistent income growth.
- Features a new lease structure with a 10-year term and 5 years of firm commitment.
- A renovate-to-suit, award-winning historic building with LEED Silver certification.
- Renovations include VA-mandated interior finishes and security specifications.
Executive Summary
The Ficke Team of Colliers is pleased to present the opportunity to acquire the U.S. Department of Veterans Affairs (VA) Community Resource &
Referral Center (CRRC), a mission-critical, government-leased asset located at 1818 N Martin Luther King Jr Drive in the heart of a vibrant Downtown
Milwaukee neighborhood. This offering provides investors with stable income backed by the full faith and credit of the U.S. Federal Government
(S&P AA+ credit rating).
The 7,542-square-foot facility is leased to the VA under a newly executed 10-year lease, 5-years firm, commencing September 27, 2025, and
features 3% annual shell rent escalations. The property includes a private parking lot with 25 spaces, which is a rare amenity in this urban location
and a critical factor in the VA’s original site selection.
Renovated-to-suit specifically for this tenant in 2013 with over $2.4 million invested, the historic building received certifications from the Wisconsin
State Historic Preservation Commission, the National Park Service, and LEED Silver. This strategic location is on a city bus line, and ideal for the VA to
best provide Veterans with one-stop access to community-based, multi-agency services to promote permanent housing, health and mental health
care, career development and access to VA and non-VA benefits. This Milwaukee Journal Sentinel article provides additional renovation and tenant
agency details from the grand opening: New center a welcoming presence for vets at risk of homelessness.
With over $1 billion in the most notable public and private investment surrounding the property, this VA facility benefits from its proximity to the
$500+ million Fiserv Forum district, the $100 million ThriveOn King community hub, the $240 million Nature & Culture Museum of Wisconsin
(opening 2027), and the award-winning Brewers Hill neighborhood. This mission-critical VA facility delivers essential services to veterans while
offering investors stable cash flow, long-term stability, and exceptional credit tenancy in a premier downtown location surrounded by substantial
investment.
The City of Milwaukee is the most populous city in the state of Wisconsin with a population of over 400,000 and it is the 31st most populous city in
the United States and is the county seat. The Milwaukee metropolitan area ranks fifth in the United States for the number of Fortune 500 company
headquarters as a share of the population.
Referral Center (CRRC), a mission-critical, government-leased asset located at 1818 N Martin Luther King Jr Drive in the heart of a vibrant Downtown
Milwaukee neighborhood. This offering provides investors with stable income backed by the full faith and credit of the U.S. Federal Government
(S&P AA+ credit rating).
The 7,542-square-foot facility is leased to the VA under a newly executed 10-year lease, 5-years firm, commencing September 27, 2025, and
features 3% annual shell rent escalations. The property includes a private parking lot with 25 spaces, which is a rare amenity in this urban location
and a critical factor in the VA’s original site selection.
Renovated-to-suit specifically for this tenant in 2013 with over $2.4 million invested, the historic building received certifications from the Wisconsin
State Historic Preservation Commission, the National Park Service, and LEED Silver. This strategic location is on a city bus line, and ideal for the VA to
best provide Veterans with one-stop access to community-based, multi-agency services to promote permanent housing, health and mental health
care, career development and access to VA and non-VA benefits. This Milwaukee Journal Sentinel article provides additional renovation and tenant
agency details from the grand opening: New center a welcoming presence for vets at risk of homelessness.
With over $1 billion in the most notable public and private investment surrounding the property, this VA facility benefits from its proximity to the
$500+ million Fiserv Forum district, the $100 million ThriveOn King community hub, the $240 million Nature & Culture Museum of Wisconsin
(opening 2027), and the award-winning Brewers Hill neighborhood. This mission-critical VA facility delivers essential services to veterans while
offering investors stable cash flow, long-term stability, and exceptional credit tenancy in a premier downtown location surrounded by substantial
investment.
The City of Milwaukee is the most populous city in the state of Wisconsin with a population of over 400,000 and it is the 31st most populous city in
the United States and is the county seat. The Milwaukee metropolitan area ranks fifth in the United States for the number of Fortune 500 company
headquarters as a share of the population.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
7,542 SF
Building Class
C
Year Built/Renovated
1925/2013
Price
$3,772,272 CAD
Price Per SF
$500.17 CAD
Cap Rate
7.75%
NOI
$292,385 CAD
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
3,771 SF
Building FAR
0.33
Lot Size
0.52 AC
Zoning
LB2
Parking
30 Spaces (3.98 Spaces per 1,000 SF Leased)
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Walk Score®
Very Walkable (88)
Bike Score®
Very Bikeable (83)
Property Taxes
| Parcel Number | 353-0842-000-9 | Improvements Assessment | $1,005,082 CAD |
| Land Assessment | $81,647 CAD | Total Assessment | $1,086,728 CAD |
Property Taxes
Parcel Number
353-0842-000-9
Land Assessment
$81,647 CAD
Improvements Assessment
$1,005,082 CAD
Total Assessment
$1,086,728 CAD
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1818 N Dr Martin Luther King Jr Dr
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