Mixed-Use Property with Street
For Sale
$375,000
1937 W Greenfield Ave, Milwaukee, WI 53204
N, Milwaukee, WI
Property Size2,385 SF
Lot Size0.08 Acres
Price / SF$157.23
Days on Market55
Property Features for 1937 W Greenfield Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Multi Family
Standard status
Active
APN
4600404000
Size
2,385 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3102
Building Details
Year built
1910
Architectural style
Other
Listing Agency:
EXP Realty, LLC~MKE
(866) 848-6990
Listed By:
Rahena Rahman · License #9640694
(773) 943-1758
Added: Jul 6
Changed: Aug 19
Last Checked: Aug 29 at 10:06PM
MLS# 1970370
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.
This mixed-use property contains 2385 square feet of space and was built in 1910. The asset combines a commercial component with additional residential income potential, creating a flexible configuration for an owner-occupant or investor. Its street-facing presence supports visibility for the commercial portion.
The property is located at 1937 W Greenfield Ave in Milwaukee, Wisconsin 53204. Major-road access and nearby local amenities contribute to its urban commercial setting. The parcel encompasses 0.08 acres and carries Multi Family zoning; buyers should independently confirm room sizes, permitted uses, and zoning compliance.
The property is located at 1937 W Greenfield Ave in Milwaukee, Wisconsin 53204. Major-road access and nearby local amenities contribute to its urban commercial setting. The parcel encompasses 0.08 acres and carries Multi Family zoning; buyers should independently confirm room sizes, permitted uses, and zoning compliance.
Key Highlights
- 2385 SF mixed‑use property
- Commercial space with residential income potential
- Street‑facing commercial visibility
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
$29,121
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
7.77%
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%
$582,420
$582.4K
Cap Rate 7%
$416,014
$416.0K
Cap Rate 9%
$323,567
$323.6K
Market Conditions
NOI Build-Up for 2,385 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
$52.9K $22.20/SF
− Vacancy
−$6.4K −$2.66/SF
EGI
$46.6K $19.54/SF
− OpEx
−$17.5K −$7.33/SF
NOI
$29.1K $12.21/SF
Area
Milwaukee, WI
Vacancy
12.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
37.50%
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%
$582,420
Cap Rate 7%
$416,014
Cap Rate 9%
$323,567
Alternative Uses
Best Use
Mixed Use
$416.0K
$364.0K – $485.4K
NOI $29,121 @ 7.0% cap · market cap 7.77%
Second Best
Retail
$357.4K
$312.7K – $417.0K
NOI $25,017 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$573.1K
$501.5K – $668.7K
NOI $40,120 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,320
Businesses Nearby
Explore this area
Business Placement
Demographics for 53204, WI
39,728
Population
14,979
Households
2.7
Avg Household Size
29
Median Age
15%
College-Educated
65%
High-School Grad
3.2 sq mi
ZIP Area
12,415
Density / Sq Mi
$43,645
Median Household Income
$30,906
Median Earnings
$964
Median Rent
$106,000
Median Home Value
Market
Vacancy Rate% for Retail in Milwaukee, WI
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 - Commercial space is paired with residential income potential in a high-traffic setting.
Where is this mixed-use property located?
The property is located at 1937 W Greenfield Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2385 SF mixed‑use property; Commercial space with residential income potential; Street‑facing commercial visibility
