Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2132 S 23Rd St Milwaukee, WI 53215

    View on Map
    Sponsored
    For Sale
    $119,900

    Duplex/2 Story - Milwaukee, WI

    Lot size:
    0.06 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 24 at 12:06 am

    Property Features for 2132 S 23Rd St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RT4
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3
    Bedrooms
    3
    Bathrooms
    2
    APN
    4703313000
    Appliances
    None
    Lot size
    0.06 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas

    Building Details

    Year built
    1900
    Floors in Building
    2
    Building materials
    Other
    Architectural style
    Other

    We can help!

    Listing Contact
    Holly T Speranza

    Juniper Real Estate LLC dba Keller Williams Realty Milwaukee North Shore

    Listing agent Holly T Speranza License #56826-90

    Listing date Mar 23, 2026

    MLS# 1954895 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Milwaukee Duplex Near Lincoln Village

    This is a 2-unit duplex located on Milwaukee's South Side, near Lincoln Village and Historic Mitchell Street. The property is zoned RT4 and features a 2-bedroom, 1-bathroom lower unit and a 1-bedroom, 1-bathroom upper unit. The duplex is fully vacant, making it suitable for both owner-occupants and investors. Its location provides convenient access to the Mitchell Park Domes, the Historic Mitchell Street shopping and dining corridor, and the Forest Home Ave commercial area. Residents can also enjoy nearby Kosciuszko Park and Community Center, which offers fitness and recreation amenities. Public transit, neighborhood shops, and restaurants are easily accessible, and downtown Milwaukee is a short drive away. The lot size is 0.06 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.941816
    Latitude
    43.005874

    Nearby Similar for Sale

    • $500,000
      9,688 SF

      Multi-Tenant Office Building For Sale

      Multi-tenant office building with flexible spaces and ample parking.
      9306 N 107Th St, Milwaukee, WI 53224
      View Details
    • $500,000
      2,863 SF

      Prime Commercial Building on S 76th

      Free-standing building in a high-traffic commercial area.
      3171 S 76Th St, Milwaukee, WI 53219
      View Details
    • $255,000
      3,128 SF

      Mixed-Use Commercial Property in Milwaukee

      Highly visible commercial building with flexibility and strong investment potential.
      6425 W Burleigh St, Milwaukee, WI 53210
      View Details
    • New
      $199,900
      6,062 SF

      Spacious Milwaukee Facility For Sale

      Well-maintained commercial building with multiple offices, open space, and parking.
      200 W Concordia Ave, Milwaukee, WI 53212
      View Details
    • $729,900
      9,954 SF

      Mixed-Use Property with Income Potential

      Mixed-use property with apartments and dance hall in Milwaukee.
      2007 W Forest Home Ave, Milwaukee, WI 53215
      View Details
    • New
      $479,900
      0.22 Acres

      Well-Maintained 8-Unit Apartment Building

      Solid investment property near amenities and transportation in Milwaukee.
      4801 N 66Th St, Milwaukee, WI 53218
      View Details
    • $400,000
      0.14 Acres

      Milwaukee Duplex: Turnkey Investment

      Fully rented duplex in Milwaukee, a turnkey investment opportunity.
      217 N 63Rd St, Milwaukee, WI 53213
      View Details
    • $430,000
      0.09 Acres

      Updated Milwaukee Triplex Potential

      Updated triplex with Airbnb potential near Bay View amenities.
      1821 E Oklahoma Ave, Milwaukee, WI 53207
      View Details
    • $500,000
      5,616 SF

      Mixed-Use Investment Opportunity

      Eight-unit mixed-use property with commercial and residential spaces.
      4404 W Burleigh St, Milwaukee, WI 53210
      View Details
    • $455,000
      0.08 Acres

      East Side Duplex Investment Opportunity

      Classic duplex with strong income potential in prime location.
      1712 E Park Pl, Milwaukee, WI 53211
      View Details
    • $430,000
      0.09 Acres

      Updated Bay View Income Property

      Updated duplex/triplex with Airbnb potential in the heart of Bay View.
      1821 E Oklahoma Ave, Milwaukee, WI 53207
      View Details
    • New
      $314,900
      0.12 Acres

      Charming Duplex with Flexible Potential

      1928 bungalow duplex perfect for owner-occupants or investors.
      3349 N 92Nd St, Milwaukee, WI 53222
      View Details

    FAQs

    What type of property is this?
    Duplex - Vacant 2-unit duplex near Mitchell Street and Kosciuszko Park.
    Where is this duplex located?
    The property is located at 2132 S 23Rd St Milwaukee, WI.
    What is the asking price?
    The asking price for this property is $119,900.
    What are key features of this property?
    This property features: - Fully vacant duplex, ideal for owner-occupants or investors.; - Two units: a 2-bedroom/1-bathroom lower and a 1-bedroom/1-bathroom upper.; - Prime location on Milwaukee's South Side near Lincoln Village and Historic Mitchell Street.
    (414) 962-3605
    Request Owner's contact information
    2132 S 23Rd St Milwaukee, WI 53215
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2132 S 23Rd St
    Milwaukee, WI 53215
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2132 S 23Rd St Milwaukee, WI 53215
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Holly T Speranza
    Real Estate License ID: 56826-90
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!