Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Turn-Key Waukesha Triplex For Sale Title is generated by Realmo AI

    934 Caroline St, Waukesha, WI 53186

    View on Map
    Claim this Listing
    For Sale
    $304,900

    Three-unit building with long-term tenants and income potential.

    Type:Multi Family
    Added:
    Apr 12, 2025
    Days on Market:
    417
    Last Refresh:
    May 28 at 2:51 pm

    Property Features for 934 Caroline St

    General Information

    Standard status
    Active
    Property subtype
    Multi Family

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    Erick V Belus

    Listing agent Erick V Belus License #78637-94

    Listing office Realty Executives - Integrity

    Listing date Apr 12, 2025

    Source Exitrealty

    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 Realty Executives - Integrity

    HighLights

    • Turn‑key 3 unit building
    • Great income potential
    • Fully rented with long term tenants
    • Rents are currently below market average
    • Month to month leases offer flexibility
    • Built in 1900

    Overview

    This turn-key three-unit building offers income potential. The property is fully rented with long-term tenants. Current rents are below market average on a month-to-month basis. The seller has not raised rents in recent years due to the tenants' reliability and respect for the property. The seller currently covers the utilities.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Waukesha
    County
    Waukesha
    State
    Wisconsin
    Longitude
    -88.2235449
    Latitude
    43.013033

    Nearby Similar for Sale

    • $305,000

      Waukesha Duplex with Four-Car Garage

      Spacious duplex with a four-car garage in Waukesha, Wisconsin.
      1145 White Rock Ave, Waukesha, WI 53186
      View Details
    • $184,900

      Waukesha Multifamily Rehab Opportunity

      Four-unit multifamily property in Waukesha, ideal for investors/rehabbers.
      206 Maple Ave, Waukesha, WI 53186
      View Details
    • $2,625,000
      2,570 SF

      New Starbucks in Waukesha, Wisconsin

      New build-to-suit Starbucks with a 10-year corporate lease.
      151 West Sunset Drive, Waukesha, WI 53189
      View Details
    • $5,850,000
      10,087 SF

      Waukesha Retail Learning Experience Property

      Corporate learning experience property for sale in Waukesha, Wisconsin.
      2031 Meadow Ln, Waukesha, WI 53188
      View Details
    • $1,225,000
      925 SF

      Waukesha Office Space For Rent

      Office space near Waukesha County Courthouse and downtown area.
      707 W Moreland Blvd, Waukesha, WI
      View Details
    • $435,000
      2,037 SF

      Condo Unit in Waukesha

      Leased condo unit with underground parking available for sale.
      2740 Northview Road, Unit 109, Waukesha, WI 53188
      View Details
    • $1,450,000
      14,000 SF

      Waukesha Industrial Flex Building

      14,000 SF multi-tenant building in Waukesha, Wisconsin.
      W246 S3255 Industrial Lane, Waukesha, WI 53189
      View Details
    • $2,625,000
      2,570 SF

      New Starbucks in Waukesha, WI

      New 2,570 SF Starbucks with drive-thru on Sunset Drive.
      151 W Sunset Dr, Waukesha, WI 53189
      View Details
    • $750,000

      Turnkey Irish Pub with Apartments

      Fully operational pub with real estate and apartment rentals.
      352 W Main Street, Waukesha, WI 53186
      View Details
    • $8,263,000

      Waukesha Retail Strip Center

      100% occupied retail strip center in affluent Milwaukee suburb.
      120 E Sunset Dr, Waukesha, WI 53186
      View Details
    • $5,000,000
      28,606 SF

      Riverwood Corporate Center Office Property

      Multi-tenant Class A office property in Pewaukee, Wisconsin.
      N19W24101 Riverwood Dr, Waukesha, WI 53188
      View Details
    • Contact for pricing
      28,600 SF

      Waukesha Office Building Investment

      Modern office building in Waukesha, WI, with flexible floor plan.
      N19W24101 Riverwood Drive, Waukesha, WI 53188
      View Details

    FAQs

    What type of property is this?
    Triplex - Three-unit building with long-term tenants and income potential.
    Where is this triplex located?
    The property is located at 934 Caroline St Waukesha, WI.
    What is the asking price?
    The asking price for this property is $304,900.
    What are key features of this property?
    This property features: Turn‑key 3 unit building; Great income potential; Fully rented with long term tenants
    (414) 916-5565
    We can help!
    Listing Contact
    Erick V Belus
    Real Estate License ID: 78637-94
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    934 Caroline St, Waukesha, WI 53186
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!