The National Ace Hardware store building, located at 1303 N. 4th St. just north of the Park East corridor in downtown Milwaukee, is for sale.
The property has an assessed value of $1.1 million, according to city records, and is the home to the only hardware store in downtown Milwaukee.
The site consists of four buildings with a total of 65,700 square feet of space including a former firehouse, built in 1892, the main building, built in 1902, and the joining building built in 1910.
Bill and Dave Rotter, owners of National Ace Hardware purchased the property in 1986 and have been operating from there ever since. Their firm, Rotter Investment Realty LLP, has engaged Milwaukee-based Cassidy Turley Barry as the listing agent for the sale and potential redevelopment of the property. Kurt Van Dyke, senior vice president of Cassidy Turley Barry, will market it.
The buildings sit on a 1.3-acre site at the northwest corner of North Fourth Street and West McKinley Avenue. The property features cream city brick construction with timber columns and beams, as well as hardwood floors.
“It is a beautiful building with a lot of potential to be converted into a variety of different uses, including multi-family, office, retail or mixed use,” said Van Dyke. “The site’s ideal location and proximity to other recent developments, along with the historic nature of the property should make it very appealing to users and developers alike. It also has substantial parking, which is a key benefit in this area.”
National Ace Hardware has been in business since 1950 and will continue operating at the location, according to a news release from Cassidy Turley Barry.