Renovated Mixed-Use
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For Sale
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130 W Pittsburgh Ave, Milwaukee, WI 53204
Fully occupied property combines NNN retail space with residential apartments in Milwaukee’s Walker’s Point neighborhood.
Property Size29,418 SF
Price / SF$207.36
Days on Market4
Property Features for 130 W Pittsburgh Ave
General Information
Standard status
Active
Size
29,418 SF
Total Parking Spaces
33
Property subtype
Mixed Use
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$442,220
Building Details
Year Built
1868
Year Renovated
2017
Units
10
Tenancy
Multi
Listing Agency:
Smart Asset Capital
Listed By:
Geoff Stuhr · License #86474 - 94
Source:
Crexi
Added: Aug 31
Changed: Sep 2
Last Checked: Sep 2 at 2:16PM
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 Smart Asset Capital
Investment Insights
Based on property information with market context.
This 29,418-square-foot mixed-use property combines NNN-leased retail space with residential apartments. Originally constructed in 1868, the building underwent renovation in 2017 to a high-end standard and is fully occupied.
The property is located at 130 W Pittsburgh Ave in Milwaukee’s Walker’s Point neighborhood, described as one of the city’s most walkable and fastest-growing areas. Its combination of commercial and residential components creates a vertically integrated asset with established occupancy across both uses.
The property is located at 130 W Pittsburgh Ave in Milwaukee’s Walker’s Point neighborhood, described as one of the city’s most walkable and fastest-growing areas. Its combination of commercial and residential components creates a vertically integrated asset with established occupancy across both uses.
Key Highlights
- 29,418‑square‑foot mixed‑use property
- Fully occupied asset with retail and residential components
- NNN‑leased retail space
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
$359,194
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
5.89%
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%
$7,183,880
$7.2M
Cap Rate 7%
$5,131,343
$5.1M
Cap Rate 9%
$3,991,044
$4.0M
Market Conditions
NOI Build-Up for 29,418 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
$653.1K $22.20/SF
− Vacancy
−$78.4K −$2.66/SF
EGI
$574.7K $19.54/SF
− OpEx
−$215.5K −$7.33/SF
NOI
$359.2K $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%
$7,183,880
Cap Rate 7%
$5,131,343
Cap Rate 9%
$3,991,044
Alternative Uses
Best Use
Mixed Use
$5.13M
$4.49M – $5.99M
NOI $359,194 @ 7.0% cap · market cap 5.89%
Second Best
Retail
$4.41M
$3.86M – $5.14M
NOI $308,580 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$7.07M
$6.19M – $8.25M
NOI $494,858 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,059
Businesses Nearby
Explore this area
Business Placement
Demographics for 53204, WI
39,728
Population
14,979
Households
2.7
Avg Household Size
29
Median Age
15%
College-Educated
65%
High-School Grad
3.2 sq mi
ZIP Area
12,415
Density / Sq Mi
$43,645
Median Household Income
$30,906
Median Earnings
$964
Median Rent
$106,000
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 - Fully occupied property combines NNN retail space with residential apartments in Milwaukee’s Walker’s Point neighborhood.
Where is this mixed-use property located?
The property is located at 130 W Pittsburgh Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $6,100,000.
What are key features of this property?
This property features: 29,418‑square‑foot mixed‑use property; Fully occupied asset with retail and residential components; NNN‑leased retail space
