Listed by Transwestern Milwaukee
$3,990,000
The Berkley Building
Details
APN 1980259000
Property Type Retail, Office
Sub Type Executive Office
Square Footage 22,485
Cap Rate 6.17%
Occupancy 100%
Tenancy Multi
Price per SqFt $177
Year Built 1961
Year Renovated 2024
Stories 2
Acreage 0.358
Zoning Business District
Parking Spaces 12 spaces
Parking Per SqFt 0.53
Retail | 6.17% CAP | 22,485 SqFt
Marketing description
A rare opportunity to own all or a portion of an exceptional Whitefish Bay commercial building portfolio on in-demand east Silver Spring Drive is now possible. The Berkley Building is an iconic mid-century modern two-story, mixed-use office/retail building in the heart of “the Bay” offering outstanding tenants and short-lived vacancies. Situated at the heart of the Bay shopping district, foot traffic, visibility and out-the-door lifestyle amenities can’t be beat for dining, entertainment, shopping, medical, wellness and fitness. The building’s long-time 1st floor retailers of active lifestyle gear store Yellow Wood, Burn Boot Camp, Indulge Studios (salon), and Herslof Opticians
Investment highlights
- Retail-office property located in mature (fully developed) high-demand submarket
- with coveted demographics.
- 6.17% (2025 proforma/budget)
- 97.3%
- 94.1%
- 100.0%
- Tax Key
- RET (Net) – 2024
- Assessed FMV – 2024
- Zoning
- 1980259000
- $48,654.31 (see 2024 tax bill below) plus $4,250 special assessment charge
- $3,545,100
- Business District
- Construction Load supporting brick over concrete and concrete block masonry frame
- w/concrete panel span support at lower level.
- Year Built/Renovated 1961 per assessors records
- Single/Multi Tenancy Multi-tenant mixed use office/retail building
- Utilities Municipal water & sewer, gas and electric service by WE Energies.
- HVAC System Gas forced air units; rooftop a/c condensers.
- Electrical Service Suitable for current uses; TBV.
- Roof New roof - 2024
- Elevator One (1) passenger elevator
- Fire Protection None
- Parking Limited on-site surface parking behind building (12 spaces)
- Signage/Visibility Retail exterior signage plus limited northside (Silver Spring Dr) façade signage for
- upper floor office users.
- Special Features TIF District 1; 2024 had a special assessment charge of $4,250 in addition to net
- general real estate taxes above.
- Available Lease Space See separate leasing marketing package
- Financial Data Provided pursuant to Confidentiality Agreement; Call Broker
Listing Contacts
Listed by Transwestern Milwaukee
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