Free-Standing Building in Prime
For Sale
Contact for pricing
3171 S 76th St, Milwaukee, WI 53219
Well-maintained 2,863 SF building with ample parking and high visibility.
Property Size2,863 SF
Price / SF$174.64
Days on Market474
Property Features for 3171 S 76th St
General Information
Standard status
Active
Size
2,863 SF
Total Parking Spaces
12
Property subtype
Office, Retail, Special Purpose
Zoning
NS1 Commercial Neighborhood Shopping
Lease Type
NN
Investment Type
Net Lease
Building Details
Year Renovated
2019
Stories
1
Tenancy
Single
Listing Agency:
RE/MAX Lakeside
(414) 617-6980
Listed By:
yoon kim · License #52186-94
Source:
Crexi
Added: Apr 25, 2025
Changed: Aug 8
Last Checked: Aug 11 at 5:42AM
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 RE/MAX Lakeside
Investment Insights
Based on property information with market context.
This almost 3,000 square foot free-standing building, featuring a spacious parking lot, is situated in a prime commercial area near South 76th Street and Oklahoma Avenue. The masonry building is well-maintained and offers convenient access from 76th Street. Remodeled and extended in 2019, the building includes newer HVAC systems. A large pylon sign on South 76th Street provides excellent visibility to passing traffic. The property is located across from a strip mall anchored by Tricity Bank, Dollar Tree, and PNC Bank, as well as a bowling alley. The property was formerly a dry cleaner, and the equipment is negotiable or can be removed. There is extra income from a lease with US Cellular for a portion of the property tax: $4,543 for 2025 and $7,184 for 2026. A cell tower behind the building is leased to US Cellular. US Cellular is responsible for paying a portion of the property tax to the building owner.
Key Highlights
- Prime commercial corridor location on S 76th & Oklahoma with high traffic visibility and pylon sign.
- Priced significantly below assessed value (80k under).
- Well‑maintained, free‑standing masonry building with ample parking and easy access.
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
$29,707
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
5.94%
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%
$594,140
$594.1K
Cap Rate 7%
$424,386
$424.4K
Cap Rate 9%
$330,078
$330.1K
Market Conditions
NOI Build-Up for 2,863 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
$46.4K $16.20/SF
− Vacancy
−$3.9K −$1.38/SF
EGI
$42.4K $14.82/SF
− OpEx
−$12.7K −$4.45/SF
NOI
$29.7K $10.38/SF
Area
ZIP 53219
Vacancy
8.50%
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%
$594,140
Cap Rate 7%
$424,386
Cap Rate 9%
$330,078
Alternative Uses
Best Use
Retail
$424.4K
$371.3K – $495.1K
NOI $29,707 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$688.0K
$602.0K – $802.7K
NOI $48,160 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53219, WI
34,925
Population
15,661
Households
2.2
Avg Household Size
38
Median Age
26%
College-Educated
90%
High-School Grad
5.0 sq mi
ZIP Area
6,985
Density / Sq Mi
$70,998
Median Household Income
$43,223
Median Earnings
$971
Median Rent
$190,300
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?
Storefront property - Well-maintained 2,863 SF building with ample parking and high visibility.
Where is this storefront property located?
The property is located at 3171 S 76th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Prime commercial corridor location on S 76th & Oklahoma with high traffic visibility and pylon sign.; Priced significantly below assessed value (80k under).; Well‑maintained, free‑standing masonry building with ample parking and easy access.
