Miracle Mile Shopping Center — Sale in Milwaukee, WI

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Milwaukee, WI 53221
  • Year built: 1958

Photos

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Investment Figures

Cap rate
8.32%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present Miracle Mile Shopping Center. The center features two new long-term leases with Ollie’s Bargain Outlet and Palm Halal Market, collectively accounting for 58.37% of the square footage. The Seller paid for a brand new TPO roof last fall with a 15 year warranty and sealed & striped the parking lot in spring 2025. Investment Highlights: • +/- 93,056 Square Feet on Six Acres • 100% Occupied by Six Tenants on a Mix of Net and Gross Leases • Recent CapEx: Roof Replaced in Fall 2025 with 15 Year Warranty and Parking Lot Sealed and Striped in Spring 2025 • Anchored by Ollie's Bargain Outlet (31.5%) with New Eight-Year Lease • Potential to Develop an Outlot up to 2,000 SF in the SE Corner of the Parking Lot • Dense Demographics - Over 280,000 Residents Within Five Miles with Average Household Income of $92,132

Market Context

This retail in Milwaukee, WI is listed for sale. It is offered at an approximate 8.3% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 1958. Compare it against other retail listings for sale in Milwaukee, WI — view the full market.

As of Q1 2026, the Milwaukee retail market showed a 0.3% vacancy rate, and rents up 3.3% year over year. Source: Cushman & Wakefield Q1 2026 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Retail market FAQ

Is the Milwaukee retail market tightening or softening?
Vacancy is around 0.3%, with asking rents rising year over year (Q1 2026).

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