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The Bridgewater Building 518-522 N Water St 16,592 SF 100% Leased Retail Building Milwaukee, WI 53202 $3,118,346 CAD ($187.94 CAD/SF) 6.07% Cap Rate
Executive Summary
The Bridgewater Building is a fully occupied, income-producing mixed-use asset in the heart of downtown Milwaukee’s most active urban corridor — National Register of Historic Places, built 1890, Walk Score 97. With 7 residential units and 4,912 SF of street-level commercial anchored by two tenants with one additional commercial unit currently vacant, the property offers an investor a rare combination of immediate yield and meaningful upside: residential rents average $253 below market on a comp set that supports $1,700/month one-bedrooms, and the single Airbnb-operated two-bedroom can be converted to a long-term lease or retained for premium short-term yield. Hines’ 333 North Water — a 333-unit luxury tower delivered two blocks away in 2024 — validates the submarket.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
16,592 SF
Building Class
B
Year Built/Renovated
1890/2011
Price
$3,118,346 CAD
Price Per SF
$187.94 CAD
Cap Rate
6.07%
NOI
$189,221 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
3.46
Lot Size
0.11 AC
Zoning
C9F - Commercial
Very walkable
80/100
Very drivable
80/100
Strong public transit
80/100
Moderately bikeable
60/100
Nearby Major Retailers
![[solidcore]](https://images1.loopnet.com/i2/X1DfwMFhQUJtrEvdN0O4PHppb1UchnIXcAPoILYKKzI/105/image.jpg "[solidcore]")
Property Taxes
| Parcel Number | 392-0660-200-0 | Improvements Assessment | $2,078,236 CAD |
| Land Assessment | $408,220 CAD | Total Assessment | $2,486,456 CAD |
Property Taxes
Parcel Number
392-0660-200-0
Land Assessment
$408,220 CAD
Improvements Assessment
$2,078,236 CAD
Total Assessment
$2,486,456 CAD
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The Bridgewater Building | 518-522 N Water St
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