Investment Overview

Marcus & Millichap is pleased to present to qualified buyers the opportunity to acquire 1200-1208 W Lincoln Ave, located in Milwaukee, Wisconsin. The Subject Property is and Class C 3-story mixed-use property. It sits on .2 acres, comprising of 14 total units with an occupancy of 100%. The unit mix includes 4 one-bed/one-bath apartments and 7 two-bed/one-bath units. Current rents of the subject property are below market - allowing new owners to increase rents within a short timeframe. Annual multifamily rent growth in Milwaukee surpassed 6% in 2021, doubling the previous high of around 3% set in 2015, and continued to climb to a record 7.4% in 22Q1. The ground floor of the Subject Property consists of 3 individual retail spaces totaling approximately 5,100 SF. Rents are also below market, with rent averaging $8.64/SF, compared with the submarket rate of $12.55/SF. All three rents are scheduled to increase within the next three months. The Milwaukee metro added roughly 11,000 jobs in the first eight months of the year, helping fuel local retail spending. Milwaukee maintains a diversified economic base. Milwaukee’s high concentration of education- and healthcare-related employment, due to local institutions such as Marquette University, the University of Wisconsin-Milwaukee, and the Milwaukee Regional Medical Center, provides a solid foundation for the region. Additionally, there is several Fortune 500 companies headquartered in Milwaukee, rounding out the economic picture. These companies include Northwestern Mutual, ManpowerGroup, Kohl’s, WEC Energy Group, Rockwell Automation, Fiserv, and Harley-Davidson.