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1801-1805 N Dr Martin Luther King Jr Dr - The Dreamland Building
1,721 - 6,714 SF Office/Retail Condo Units Offered at $295,000 - $894,000 Per Unit in Milwaukee, WI 53212
Executive Summary
Beautiful mixed use turn of century cream city brick building in quickly redeveloping MLK/Bronzeville neighborhood immediately north of the Deer District sports & entertainment corridor.
Property Facts
| Price | $295,000 - $894,000 | Floors | 2 |
| Unit Size | 1,721 - 6,714 SF | Typical Floor Size | 7,851 SF |
| No. Units | 2 | Year Built | 1898 |
| Total Building Size | 15,702 SF | Lot Size | 0.26 AC |
| Property Type | Retail | Parking Ratio | 0.13/1,000 SF |
| Property Subtype | Freestanding | Opportunity Zone |
Yes
|
| Building Class | C |
| Price | $295,000 - $894,000 |
| Unit Size | 1,721 - 6,714 SF |
| No. Units | 2 |
| Total Building Size | 15,702 SF |
| Property Type | Retail |
| Property Subtype | Freestanding |
| Building Class | C |
| Floors | 2 |
| Typical Floor Size | 7,851 SF |
| Year Built | 1898 |
| Lot Size | 0.26 AC |
| Parking Ratio | 0.13/1,000 SF |
| Opportunity Zone |
Yes |
2 Units Available
Unit 10
| Unit Size | 1,721 SF | Condo Use | Office/Retail |
| Price | $295,000 | Sale Type | Investment or Owner User |
| Price Per SF | $171.41 |
| Unit Size | 1,721 SF |
| Price | $295,000 |
| Price Per SF | $171.41 |
| Condo Use | Office/Retail |
| Sale Type | Investment or Owner User |
Description
One furnace (Rheem 85,000 BTU gas furnace), and one A/C unit (Rheem 4-ton)
installed 2021. Furnace room accessible from the west residential entry. Condo fees are $5,244 and parking fees are 4 stalls for $16,000 ($4,000 each)
Sale Notes
Rare opportunity to own exceptional storefront office/retail condominium spaces on vibrant Dr. Martin Luther King Jr. Drive with easy on-site and unmetered street parking! Located in the heart of the Brewer’s Hill/Bronzeville commercial district and a stone’s throw from the Deer District and everywhere else you want to be, these units offer attractive and versatile commercial spaces for retail, showroom,
or retail/office work environments. Absolutely a must-see for any organization or retailer needing affordable high-visibility, move-in ready space. This beautifully renovated turn-of-century building offers a high profile, easy-to-find location with convenient freeway access (Marquette exchange for I43 north /south & I94 east/west) plus immediate proximity to downtown, restaurants, shopping, hotels, and entertainment venues. The corner unit is vacant and ready for occupancy, while the other unit is leased and offers a solid income stream to a long-standing quality tenant.
Unit 9
| Unit Size | 6,714 SF | Sale Type | Investment |
| Price | $894,000 | Cap Rate | 7.27% |
| Price Per SF | $133.15 | NOI | $64,993.80 |
| Condo Use | Office/Retail |
| Unit Size | 6,714 SF |
| Price | $894,000 |
| Price Per SF | $133.15 |
| Condo Use | Office/Retail |
| Sale Type | Investment |
| Cap Rate | 7.27% |
| NOI | $64,993.80 |
Description
In Line unit. East side: Two furnaces (Rheem 115,000 BTU 95% efficient gas furnace), two A/C units (Rheem 5-ton), and one HRV added to serve east furnace (Broan #HRV90, 90CFM). Units installed in 2021. The furnaces are located in the basement. West side: Two furnaces and A/C units installed in 2006. Located in the mechanical room on the first floor. Two-phase power and reserved parking stalls in the secured adjacent surface lot available as follow: 12 stalls for $48,000 ($4,000 each). Condo fees are $21,300 ($3.17/sf)
Sale Notes
Leased to Pearls for Teen Girls through 7/31/2025 with one remaining 5-year
renewal right.
Rare opportunity to own exceptional storefront office/retail condominium spaces on vibrant Dr. Martin Luther King Jr. Drive with easy on-site and unmetered street parking! Located in the heart of the Brewer’s Hill/Bronzeville commercial district and a stone’s throw from the Deer District and everywhere else you want to be, these units offer attractive and versatile commercial spaces for retail, showroom,
or retail/office work environments. Absolutely a must-see for any organization or retailer needing affordable high-visibility, move-in ready space. This beautifully renovated turn-of-century building offers a high profile, easy-to-find location with convenient freeway access (Marquette exchange for I43 north /south & I94 east/west) plus immediate proximity to downtown, restaurants, shopping, hotels, and entertainment venues. The corner unit is vacant and ready for occupancy, while the other unit is leased and offers a solid income stream to a long-standing quality tenant.
Amenities
- Bus Line
- Signage
Nearby Major Retailers
zoning
| Zoning Code | CSC85 |
| CSC85 |
Learn More About Investing in Retail Properties
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1801-1805 N Dr Martin Luther King Jr Dr - The Dreamland Building
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