615 E Michigan St - Office FOR SALE


Milwaukee, WI 53202- Juneau Town
$12,500,000 USD
310-909-2312
615 E Michigan St, Milwaukee, WI for Sale
$12,500,000 USD
Office - FOR SALE
1/5
null | 8% Cap Rate

615 E Michigan St
Milwaukee, WI 53202
Juneau Town


OVERVIEW

• 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.

FOR SALE DETAILS

PRICE

$12,500,000 USD

PRICE/SF

$113 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

U.S. Bancorp

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

B

YEAR BUILT

1963

SPRINKLERS

-

PARKING SPACES

252

LAND DETAILS

LAND ACRES

0.96 AC

LAND SF

41,774 SF

ZONING

C9F(A)

APN/PARCEL ID

396-0481-000-4

ASK ABOUT THIS PROPERTY

Dan DanielakMarcus & MillichapMore Info
310-909-2312

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Dan DanielakMarcus & MillichapMore Info
310-909-2312

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.