Historic Mixed-Use
For Sale
$1,900,000
139 N 6th Ave, West Bend, WI 53095
N, West Bend, WI
Property Size12,129 SF
Lot Size0.16 Acres
Price / SF$156.65
Days on Market29
Property Features for 139 N 6th Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
HWY 45 , East on Paradise, North on Main St
Standard status
Active
APN
29111191410368
Size
12,129 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
19043
Building Details
Year built
1881
Architectural style
Other
Listing Agency:
Boss Realty, LLC
(262) 689-0022
Listed By:
Thomas Zernia · License #5745190
(262) 689-0022
Added: Jul 29
Changed: Aug 26
Last Checked: Aug 26 at 7:06PM
MLS# 1973664
Copyright © 2026 Metro MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1881, this mixed-use property contains 12,129 square feet on a 0.16-acre parcel. The building includes nine residential apartments, with studio and two-bedroom configurations, along with six commercial spaces. Three of the commercial areas are storefronts located on Main Street.
The property is in downtown West Bend, Wisconsin, at 139 N 6th Ave. Its commercial zoning supports the existing combination of residential and commercial space. The surrounding downtown setting includes cultural attractions, dining establishments, and a scenic river walk.
The property is in downtown West Bend, Wisconsin, at 139 N 6th Ave. Its commercial zoning supports the existing combination of residential and commercial space. The surrounding downtown setting includes cultural attractions, dining establishments, and a scenic river walk.
Key Highlights
- 12,129‑square‑foot mixed‑use building on a 0.16‑acre parcel
- Nine residential apartments with studio and two‑bedroom configurations
- Six commercial spaces, including 3 Main Street storefronts
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$147,324
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,946,480
$2.9M
Cap Rate 7%
$2,104,629
$2.1M
Cap Rate 9%
$1,636,933
$1.6M
Market Conditions
NOI Build-Up for 12,129 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$218.3K $18.00/SF
− Vacancy
−$7.9K −$0.65/SF
EGI
$210.5K $17.35/SF
− OpEx
−$63.1K −$5.21/SF
NOI
$147.3K $12.15/SF
Area
Washington County, WI
Vacancy
3.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,946,480
Cap Rate 7%
$2,104,629
Cap Rate 9%
$1,636,933
Alternative Uses
Best Use
Retail
$2.10M
$1.84M – $2.46M
NOI $147,324 @ 7.0% cap · market cap 7.75%
Second Best
Mixed Use
$1.93M
$1.69M – $2.25M
NOI $135,287 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$3.33M
$2.92M – $3.89M
NOI $233,411 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
887
Businesses Nearby
Explore this area
Business Placement
Demographics for 53095, WI
27,269
Population
12,741
Households
2.1
Avg Household Size
45
Median Age
32%
College-Educated
96%
High-School Grad
70.4 sq mi
ZIP Area
387
Density / Sq Mi
$82,219
Median Household Income
$49,779
Median Earnings
$1,015
Median Rent
$286,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercially zoned building combines apartments with retail and other commercial space.
Where is this mixed-use property located?
The property is located at 139 N 6th Ave West Bend, WI.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 12,129‑square‑foot mixed‑use building on a 0.16‑acre parcel; Nine residential apartments with studio and two‑bedroom configurations; Six commercial spaces, including 3 Main Street storefronts
