Flex Space with Drive-In
New
For Sale
$439,900
12602 West Hampton Avenue, Milwaukee, WI 53225
Masonry flex property with B-1 Community Business zoning and a drive-in door.
Property Size5,000 SF
Days on Market5
Property Features for 12602 West Hampton Avenue
General Information
Standard status
Active
Size
5,000 SF
Class
C
Property subtype
BO, OFC
Zoning
B-1
Building Details
Building Size
5,000 SF
Year Built
1964
Buildings
1
Stories
1
Listing Agency:
Keller Williams-Franksville
Listed By:
Danien Walls · License #9859294
(219) 292-0774
Source:
Realnex
Added: Sep 10
Changed: Sep 12
Last Checked: Sep 13 at 3:52AM
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 Keller Williams-Franksville
Investment Insights
Based on property information with market context.
This approximately 5,000 SF masonry commercial building combines retail, office, and flex functionality. Approximately 4,400 SF is available for owner occupancy, while approximately 600 SF is occupied by an existing long-term barber shop tenant. The property includes an 8' x 8' drive-in door and an EPDM roof, supporting a range of configurations subject to zoning and approvals.
Positioned along W Hampton Ave, the property offers visibility from the street and access to I-41 and US-45. Street parking is available on W Hampton Ave and adjacent streets. The building was constructed in 1964 and is zoned B-1 Community Business.
Positioned along W Hampton Ave, the property offers visibility from the street and access to I-41 and US-45. Street parking is available on W Hampton Ave and adjacent streets. The building was constructed in 1964 and is zoned B-1 Community Business.
Key Highlights
- Approximately 5,000 SF commercial flex property
- Approximately 4,400 SF available for owner occupancy
- Approximately 600 SF occupied by an existing long‑term barber shop tenant
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
$18,207
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
4.14%
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%
$364,140
$364.1K
Cap Rate 7%
$260,100
$260.1K
Cap Rate 9%
$202,300
$202.3K
Market Conditions
NOI Build-Up for 5,000 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
$27.4K $5.47/SF
− Vacancy
−$1.3K −$0.27/SF
EGI
$26.0K $5.20/SF
− OpEx
−$7.8K −$1.56/SF
NOI
$18.2K $3.64/SF
Area
Milwaukee, WI
Vacancy
4.90%
Lease Rate
$5.47 /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%
$364,140
Cap Rate 7%
$260,100
Cap Rate 9%
$202,300
Alternative Uses
Best Use
Retail
$749.3K
$655.6K – $874.1K
NOI $52,448 @ 7.0% cap · market cap 11.92%
Second Best
Flex RnD
$703.3K
$615.4K – $820.5K
NOI $49,228 @ 7.0% cap · market cap 11.19%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,108 @ 7.0% cap · market cap 19.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
565
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53225, WI
25,138
Population
11,019
Households
2.3
Avg Household Size
33
Median Age
22%
College-Educated
91%
High-School Grad
7.0 sq mi
ZIP Area
3,591
Density / Sq Mi
$54,433
Median Household Income
$40,463
Median Earnings
$1,094
Median Rent
$174,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Milwaukee, WI
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Frequently Asked Questions
What type of property is this?
Flex space - Masonry flex property with B-1 Community Business zoning and a drive-in door.
Where is this flex space located?
The property is located at 12602 West Hampton Avenue Milwaukee, WI.
What is the asking price?
The asking price for this property is $439,900.
What are key features of this property?
This property features: Approximately 5,000 SF commercial flex property; Approximately 4,400 SF available for owner occupancy; Approximately 600 SF occupied by an existing long‑term barber shop tenant
