Triplex Investment
For Sale
$475,000
831 N Silverbrook Dr, West Bend, WI 53090
COMMERCIAL - West Bend, WI
Property Size2,623 SF
Lot Size0.54 Acres
Price / SF$181.09
Days on Market114
Property Features for 831 N Silverbrook Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RD-2
Standard status
Active
APN
291_11191140216
Size
2,623 SF
Lot size
0.54 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4513
Building Details
Year built
1900
Architectural style
Other
Listing Agency:
Boss Realty, LLC
(262) 689-0022
Listed By:
Thomas Zernia · License #5745190
(262) 689-0022
Added: May 5
Changed: Aug 4
Last Checked: Aug 26 at 7:06PM
MLS# 1961030
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 for-sale triplex investment property includes three separate tax keys, providing flexibility for ownership and management. The property sits on a 0.54-acre lot and contains 2,623 square feet total. Zoning is listed as RD-2.
The property is located in West Bend, WI at 831 N Silverbrook Dr. Public remarks note proximity to Regner Park and the Eisenbahn Trail, with downtown West Bend within walking distance.
With the existing multi-key structure and residential-income setup, the property may appeal to buyers looking for an income-oriented asset within a walkable West Bend location.
The property is located in West Bend, WI at 831 N Silverbrook Dr. Public remarks note proximity to Regner Park and the Eisenbahn Trail, with downtown West Bend within walking distance.
With the existing multi-key structure and residential-income setup, the property may appeal to buyers looking for an income-oriented asset within a walkable West Bend location.
Key Highlights
- Year built: 1900
- Three separate tax keys
- Across the street from Regner Park
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
$27,811
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
5.85%
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%
$556,220
$556.2K
Cap Rate 7%
$397,300
$397.3K
Cap Rate 9%
$309,011
$309.0K
Market Conditions
NOI Build-Up for 2,623 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
$42.5K $16.20/SF
− Vacancy
−$2.8K −$1.05/SF
EGI
$39.7K $15.15/SF
− OpEx
−$11.9K −$4.54/SF
NOI
$27.8K $10.60/SF
Area
Washington County, WI
Vacancy
6.50%
Lease Rate
$16.20 /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%
$556,220
Cap Rate 7%
$397,300
Cap Rate 9%
$309,011
Alternative Uses
Best Use
Multifamily LT 5
$397.3K
$347.6K – $463.5K
NOI $27,811 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$356.4K
$311.9K – $415.9K
NOI $24,951 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$721.1K
$631.0K – $841.3K
NOI $50,477 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
733
Businesses Nearby
Explore this area
Business Placement
Demographics for 53090, WI
21,478
Population
9,247
Households
2.3
Avg Household Size
43
Median Age
29%
College-Educated
95%
High-School Grad
57.9 sq mi
ZIP Area
371
Density / Sq Mi
$87,786
Median Household Income
$49,156
Median Earnings
$1,132
Median Rent
$267,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex for sale featuring three separate tax keys on a 0.54-acre lot in West Bend, WI.
Where is this triplex located?
The property is located at 831 N Silverbrook Dr West Bend, WI.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Year built: 1900; Three separate tax keys; Across the street from Regner Park
