Updated Dec 4, 2024
LCM Funds Acquires Industrial Building In Milwaukee For $2.3M
5151 West State Street
$2,300,000
$25/SF
Building Size
90,000 SF
Asset Type
Industrial
Closing
Oct 25, 2023
About this deal
AI
Mortgage Guaranty Insurance Corp. (MGIC) has sold an approximately 90,000-square-foot industrial building located at 5151 W. State St. in Milwaukee, WI. The property was purchased by local real estate investor LCM Funds for a total of $2.3 million. The sale price of the property equates to a price per square foot of $26.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $2,300,000
- Square Footage: 90,000
- Address: 5151 West State Street, Milwaukee, WI
- Market: Milwaukee, WI
The buyer in this transaction is Scott Revolinski, representing LCM Funds. The seller is Mortgage Guaranty Insurance Corp. The deal was facilitated by brokers Scott Furmanski and Bill Bonifas from CBRE.
Milwaukee Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93