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BE PART OF THE 5th ST REVIVAL
720-722 South 5th St
Milwaukee, WI 53204
REDEVELOPMENT OPPORTUNITY
FOR SALE
5,288 SF COMMERCIAL SPACE
Sale Price: $325,000
CONTACT:
David J. Buckley
Senior Vice President
414-272-6730
[email protected]
Property Highlights
yy Available immediately
yy Historic significance in revitatlized neighborhood
yy Growing entertainment district - restaurants, breweries, art galleries
yy 1,482 square foot attached parking garage/warehouse
yy New streetscape to be completed by end of Summer 2016
yy 2 potential apartments upstairs
yy 12’ tall ceilings on first floor
yy Basement
yy Newer mechanicals and plumbing
yy Hardwood floors - Wanescoat ceiling
1232 North Edison Street | Milwaukee, WI 53202 | 414-271-1870 main | 414-271-1478 fax | WWW. BARRYCRE.COM
The information contained herein was lawfully obtained from sources we consider reliable but may contain errors, omissions, approximations or outdated information. Barry Commercial Real Estate Services,
Inc. (The Barry Company), its employees and independent contractors make no representations or warranties whatsoever regarding: (1) the accuracy of the information contained herein and (2) the physical
or environmental condition of this property or any part of this property. Prospective purchasers are strongly encouraged to conduct an independent investigation of the condition of this property.
720-722 South 5th St
Milwaukee, WI 53204
FOR SALE
5,288 SF INDUSTRIAL FACILITY
Asking Sale Price: $325,000
Property Specifications
Building Size:
Upstairs:
1st Floor:
Garage Size:
Vacant Size:
Building Dimensions:
Number of Floors:
Minimum Divisible:
Maximum Contiguous:
Year Built/Renovated:
Ceiling Height:
Construction Type:
Drive-in Doors:
Power:
Lighting:
Lavatories:
Bay Size:
Present Use:
2015 Taxes:
2015 Assessment:
5,288 SF
1,903 SF
1,903 SF clear span
1,482 SF
5,288 SF
24 x 140
2 plus basement
5,288 SF
5,288 SF
1890
First floor 12’ - warehouse/garage 20’
Wood & masonry
one 12 x 15
WE Energies
Incandescent
3 - (1 down, 2 up)
19 x 82 - 48 x 22
Milwaukee Beer Museum
$5,768.16
Land . . . . . . . . . . . . . . . $28,000
Building . . . . . . . . . . . . . . . $169,000
Total . . . . . . . . . . . . . . . $197,000
Ratio . . . . . . . . . . . . . . . . . . . 0.9679%
EFMV . . . . . . . . . . . . . . . $203,500
CONTACT:
David J. Buckley
Senior Vice President
414-272-6730
[email protected]
1232 North Edison Street | Milwaukee, WI 53202 | 414-271-1870 main | 414-271-1478 fax | WWW. BARRYCRE.COM
The information contained herein was lawfully obtained from sources we consider reliable but may contain errors, omissions, approximations or outdated information. Barry Commercial Real Estate Services,
Inc. (The Barry Company), its employees and independent contractors make no representations or warranties whatsoever regarding: (1) the accuracy of the information contained herein and (2) the physical
or environmental condition of this property or any part of this property. Prospective purchasers are strongly encouraged to conduct an independent investigation of the condition of this property.
The Fifth Street Revival: M Magazine (July 2016)
The area hopes to mimic the success of Second Street
CONTACT:
FOR SALE
5,288 SF COMMERCIAL SPACE
Asking Sale
$325,000 BY MATT HAAS
BY JEANETTE
HURTPrice:
| PHOTOGRAPHY
David J. Buckley
Senior Vice President
414-272-6730
[email protected]
By the end of the summer, Fifth Street will be transformed.
No more angled street parking. No more narrow sidewalks. Instead, the departments of Public Works and City DevelProperty
Highlights
opment
have other
plans — the street will be narrowed, with added bike lanes, and the sidewalks will be widened to
accommodate
more pedestrian traffic and allow for more businesses to expand patio seating. This nearly $2.8 million
yy Historic significance
construction and redevelopment project, financed mostly by a tax incremental financing district, will be completed by
the yend
of the area
summer, and many are hoping it spurs and energizes the new businesses opening along the street.
y Growing
yy Available
immediately
“We’re
very excited
to be joining the neighborhood,” says Amy Germershausen, vice president of sales and marketing
of Proximity Malt, a regional malting company with malthouses in Colorado and Delaware. The company is opening its
yy Great redevelopment potential
headquarters and laboratory in a building on the corner of Fifth Street and Pierce Avenue.
yy Tall ceilings
The building, which formerly housed an old plating company, sits right across the street from La Fuente, and besides
yy 1,482
square foot
parking
garage/warehouse
acting
as Proximity
Malt’s
headquarters,
it will soon feature a coffee café, a juice processor and an architect’s office.
Proximity Malt’s headquarters will also offer a retail component, selling its malts directly to home brewers and craft
yy Basement
brewers,
and eventually, there are plans to also sell six-packs of craft brews made from its malts.
“We are a start-up company, and we see a lot of growth in the craft brewing industry, especially here in Milwaukee,”
says Dale Bugajski, chief financial officer of Proximity Malt.
1232 North Edison Street | Milwaukee, WI 53202 | 414-271-1870 main | 414-271-1478 fax | WWW. BARRYCRE.COM
The information contained herein was lawfully obtained from sources we consider reliable but may contain errors, omissions, approximations or outdated information. Barry Commercial Real Estate Services,
Inc. (The Barry Company), its employees and independent contractors make no representations or warranties whatsoever regarding: (1) the accuracy of the information contained herein and (2) the physical
or environmental condition of this property or any part of this property. Prospective purchasers are strongly encouraged to conduct an independent investigation of the condition of this property.
720-722 South 5th St
Milwaukee, WI 53204
One of the
big pieces of this redevelopment project is expanding the sidewalks from about 5 to 6 feet in width to
FOR
SALE
17 ½ feet, says Ana Melo, executive director of the Walker’s Point Center for the Arts. “This will really make it more
5,288
SF INDUSTRIAL
pedestrian
friendly and give FACILITY
it more of a friendlier feel,” she says. “This will allow restaurants to have outdoor seating and Sale
benches,
and it$325,000
will encourage people to explore. Right now, people come down, let’s say, to visit La Perla,
Asking
Price:
and then they leave. With this friendlier feel, they’ll be encouraged to explore the street more.”
Fifth Street, which already is home to Brenner Brewing Company and gallery, will also become home to MobCraft
Beer. Founded in Madison, MobCraft is an innovative craft brewing company that directly solicits ideas for brews
from the public, puts them up to a vote, and then makes the beers most desired by consumers.
Property
Specifications
“It’s going to be so easy for consumers to visit a brewery, grab a beer, and then visit other breweries,” says Henry
Schwartz, who founded MobCraft with business partner Andrew Gierczak.
Building Size:
5,288 SF
Garage
Size:
1,482
Schwartz says 505 S.
5th SF
St. was the first building they toured in Milwaukee. “We found it through a friend of a
Vacant
Size:
5,288
SF to be a strip club, but the city turned them down, and then we had a first chance at
friend,”
he says. “It was
going
rentingDimensions:
it. We didn’t even
know about the onslaught of development that is happening here.”
Building
24 x 140
Number of Floors:
2 plus basement
Department
of
City
Development
Commissioner Rocky Marcoux expects the street improvements to facilitate the
Minimum Divisible:
5,288 SF
movement
of
more
businesses
to
Fifth Street, and that they will help existing anchor businesses like La Perla and La
Maximum Contiguous: 5,288 SF
Fuente,
which
have
always
attracted
customers from across the area, remain profitable. The city did a redesign and
Year Built/Renovated: 1890
reconstruction of Second Street in 2010, and Marcoux expects similar results along Fifth Street. “When we wanted
Ceiling Height:
First floor 12’ - warehouse/garage 20’
to make those changes on Second Street, there was a lot of skepticism at first,” says Marcoux. “It took us many
Construction Type:
Wood & masonry
years to get enough support. Now, if you did a poll, close to 100 percent of businesses would support the changes.”
Drive-in Doors:
one 12 x 15.5
Power:
Energies
The city looked at 14WE
different
scenarios of what could be done on Fifth Street. “The common denominator was the
Lighting:
Incandescent
narrowing of the street,”
Marcoux says.
Lavatories:
3 - (1 down, 2 up)
Bay
Size:
x 82
- 48 has
x 22established restaurants and breweries, but Fifth Street also has an established
Like
Second Street, 19
Fifth
Street
CONTACT:
arts scene,
arts businesses
like the gallery attached to Brenner, along with the Walker’s Point Center for
Present
Use: with several
Milwaukee
Beer Museum
the Arts and The Pitch Project Gallery and Artist Studios.
David J. Buckley
Senior Vice President
“We feel like this is a great thing for the community overall and especially for us,” says Howard Leu, marketing
com414-272-6730
munications
coordinator
of
the
Walker’s
Point
Center
for
the
Arts.
“We
moved
in
here
six
years
ago,
and
we’ve
really
[email protected]
2015 Assessment:
Land . . . . . . . . . . . . . . . $28,000
made this our home.Building
We’re envisioning
walkable streets and better streetscaping, and that will only enhance
. . . . . . . . . . . more
. . . . $169,000
our building’s visibility
and
people to our events.”
Total
. .hopefully
. . . . . . . .bring
. . . . more
. $197,000
Ratio . . . . . . . . . . . . . . . . . . . 0.9679%
EFMVis. .a. very
. . . . .eclectic
. . . . . . .grouping
$203,500of buildings, and this work will solidify some of the very suc“This area on Fifth Street
cessful businesses here already. And then it allows others to come in, and that’s exactly what happened on Second
Street,” Marcoux says. “There’s also a significant amount of housing being built in the area, and it’s really very walkable. As we integrate the bike system, that also becomes another attribute. We want to accommodate the people
who live and work in the neighborhood, but also those who are coming to visit as a destination.”
“All of our locations — our headquarters and our malthouses — are in redeveloped properties,” says Bugajski. “We
like helping to breathe new life and new purpose to old structures. We’re looking forward to seeing how the neighborhood progresses.”
1232 North Edison Street | Milwaukee, WI 53202 | 414-271-1870 main | 414-271-1478 fax | WWW. BARRYCRE.COM
The information contained herein was lawfully obtained from sources we consider reliable but may contain errors, omissions, approximations or outdated information. Barry Commercial Real Estate Services,
Inc. (The Barry Company), its employees and independent contractors make no representations or warranties whatsoever regarding: (1) the accuracy of the information contained herein and (2) the physical
or environmental condition of this property or any part of this property. Prospective purchasers are strongly encouraged to conduct an independent investigation of the condition of this property.