USPS Investment Opportunity in West
11015 W Oklahoma Ave West Allis, WI 53227
11015 W Oklahoma Ave, West Allis, WI, 53227
$1,550,000
For Sale
$1,550,000
Condo unit leased to USPS with redevelopment potential.
Property Size8,732 SF
Price / SF$177.51
Days on Market137
Property Features for 11015 W Oklahoma Ave
General Information
- Standard status
- Active
- Size
- 8,732 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1965
Listing agency
Mid America Real Estate Milwaukee
(414) 390-1402
Listed by
Dan Rosenfeld · License #55452
Source
Midamericagrp
Added: Mar 7 Updated: Jul 10 at 3:55PM Checked: Jul 19 at 2:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mid America Real Estate Milwaukee
Investment Insights
Based on property information with market context.
This investment opportunity is located at 11015 W Oklahoma Ave in West Allis, WI. The property features an 8,732 square foot condo unit within a retail strip anchored by Ace Hardware. The location is 100% occupied by the United States Postal Service (USPS). The property benefits from its mission-critical government tenant and co-tenancy with a high-traffic Ace Hardware, which attracts over 235,000 annual visits. The site has visibility along Oklahoma Avenue, with a traffic count of 13,500 vehicles per day. The lease includes a five-year renewal option at market rent. If USPS vacates, the 8,732 square foot space presents an opportunity for a service-based, medical, or retail replacement tenant. The property is located just east of S 108th Street (WI-100), which sees 27,500 vehicles per day, and minutes from U.S. Highway 41/I-894, a major regional artery with over 127,000 vehicles per day.
Key Highlights
- Solid 6.77% Cap Rate and $104,785 Year 1 NOI: Provides a strong immediate return on investment.
- Mission‑Critical Government Tenant (USPS): Offers stable, reliable income stream.
- Strong Co‑Tenancy with High‑Traffic Ace Hardware: Benefits from over 235,000 annual visits, enhancing visibility.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $131.0k | $15.00 |
| − Vacancy | −$4.7k | −$0.54 |
| EGI | $126.3k | $14.46 |
| − OpEx | −$37.9k | −$4.34 |
| NOI | $88.4k | $10.12 |
8,732 SF · lease $15.00/SF/yr · vacancy 3.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.26M
$1.10M – $1.47M
NOI $88,385 @ 7.0% cap · market cap 5.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.07M
$1.81M – $2.42M
NOI $144,947 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
FAQs
What type of property is this?
Storefront property - Condo unit leased to USPS with redevelopment potential.
Where is this storefront property located?
The property is located at 11015 W Oklahoma Ave West Allis, WI.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Solid 6.77% Cap Rate and $104,785 Year 1 NOI: Provides a strong immediate return on investment.; Mission‑Critical Government Tenant (USPS): Offers stable, reliable income stream.; Strong Co‑Tenancy with High‑Traffic Ace Hardware: Benefits from over 235,000 annual visits, enhancing visibility.
