Mixed-Use Property with Two Residential
For Sale
$280,000
1115-1117 BRADY ST, Milwaukee, WI 53202
First-floor commercial space is paired with two upper-level residential units.
Property Size1,624 SF
Price / SF$172.41
Days on Market220
Property Features for 1115-1117 BRADY ST
General Information
Standard status
Active
Size
1,624 SF
Property subtype
General Commercial
Amenities
3
LB2
0.0 to .499
Building Details
Year Built
1888
Listing Agency:
City of Milwaukee-DCD
(414) 369-2687
Listed By:
Rosita Ross · License #6101894
(414) 369-2687
Source:
Xome
Added: Jan 4
Changed: Aug 12
Last Checked: Aug 12 at 5:33AM
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 City of Milwaukee-DCD
Investment Insights
Based on property information with market context.
This mixed-use property at 1115-1117 Brady St in Milwaukee includes a commercial unit on the first floor and two residential units on the upper floors. The building was constructed in 1888 and is being offered in its existing condition.
The property is tax foreclosed by the City of Milwaukee. Special City forms are required for the transaction, and proposal submissions are due on or before noon March 23, 2026.
The property is tax foreclosed by the City of Milwaukee. Special City forms are required for the transaction, and proposal submissions are due on or before noon March 23, 2026.
Key Highlights
- First‑floor commercial unit with two residential units on the upper floors
- Mixed‑use property at 1115‑1117 Brady St, Milwaukee, WI 53202
- Originally constructed in 1888
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
$19,829
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
7.08%
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%
$396,580
$396.6K
Cap Rate 7%
$283,271
$283.3K
Cap Rate 9%
$220,322
$220.3K
Market Conditions
NOI Build-Up for 1,624 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
$36.1K $22.20/SF
− Vacancy
−$4.3K −$2.66/SF
EGI
$31.7K $19.54/SF
− OpEx
−$11.9K −$7.33/SF
NOI
$19.8K $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%
$396,580
Cap Rate 7%
$283,271
Cap Rate 9%
$220,322
Alternative Uses
Best Use
Mixed Use
$283.3K
$247.9K – $330.5K
NOI $19,829 @ 7.0% cap · market cap 7.08%
Second Best
Retail
$243.4K
$212.9K – $283.9K
NOI $17,035 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$390.3K
$341.5K – $455.3K
NOI $27,318 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,245
Businesses Nearby
Explore this area
Business Placement
Demographics for 53202, WI
27,897
Population
18,629
Households
1.5
Avg Household Size
31
Median Age
66%
College-Educated
98%
High-School Grad
2.1 sq mi
ZIP Area
13,284
Density / Sq Mi
$68,482
Median Household Income
$52,339
Median Earnings
$1,234
Median Rent
$298,000
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?
Mixed-use property - First-floor commercial space is paired with two upper-level residential units.
Where is this mixed-use property located?
The property is located at 1115-1117 BRADY ST Milwaukee, WI.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: First‑floor commercial unit with two residential units on the upper floors; Mixed‑use property at 1115‑1117 Brady St, Milwaukee, WI 53202; Originally constructed in 1888
