Mixed-Use Building with
For Sale
$1,900,000
139 N 6th Ave, West Bend, WI 53095
Commercially zoned property combines residential apartments with multiple commercial spaces.
Property Size12,129 SF
Price / SF$156.65
Days on Market26
Property Features for 139 N 6th Ave
General Information
Standard status
Active
Size
12,129 SF
Additional Details
Road Access
Yes
Multifamily Units
9
Taxes and HOA fees
Annual Taxes
$19,042
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Boss Realty, LLC
(262) 689-0022
Listed By:
Thomas Zernia · License #5745190
(262) 689-0022
Source:
Exprealty
Added: Jul 29
Changed: Aug 23
Last Checked: Aug 21 at 1:14PM
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 Boss Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1881, this mixed-use property at 139 N 6th Ave in West Bend, Wisconsin, contains 9 residential apartments alongside 6 commercial spaces. The residential component includes studio and two-bedroom units, while the commercial portion includes 3 storefronts positioned on Main Street.
The building is located in downtown West Bend, an area described with cultural attractions, dining, and a river walk. Commercial zoning supports the property’s combined residential and commercial configuration.
The building is located in downtown West Bend, an area described with cultural attractions, dining, and a river walk. Commercial zoning supports the property’s combined residential and commercial configuration.
Key Highlights
- 9 residential apartments
- 6 commercial spaces within the building
- 3 storefronts on Main Street
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
$147,324
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
7.75%
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%
$2,946,480
$2.9M
Cap Rate 7%
$2,104,629
$2.1M
Cap Rate 9%
$1,636,933
$1.6M
Market Conditions
NOI Build-Up for 12,129 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
$218.3K $18.00/SF
− Vacancy
−$7.9K −$0.65/SF
EGI
$210.5K $17.35/SF
− OpEx
−$63.1K −$5.21/SF
NOI
$147.3K $12.15/SF
Area
Washington County, WI
Vacancy
3.60%
Lease Rate
$18.00 /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%
$2,946,480
Cap Rate 7%
$2,104,629
Cap Rate 9%
$1,636,933
Alternative Uses
Best Use
Retail
$2.10M
$1.84M – $2.46M
NOI $147,324 @ 7.0% cap · market cap 7.75%
Second Best
Mixed Use
$1.93M
$1.69M – $2.25M
NOI $135,287 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$3.33M
$2.92M – $3.89M
NOI $233,411 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
887
Businesses Nearby
Explore this area
Business Placement
Demographics for 53095, WI
27,269
Population
12,741
Households
2.1
Avg Household Size
45
Median Age
32%
College-Educated
96%
High-School Grad
70.4 sq mi
ZIP Area
387
Density / Sq Mi
$82,219
Median Household Income
$49,779
Median Earnings
$1,015
Median Rent
$286,500
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 - Commercially zoned property combines residential apartments with multiple commercial spaces.
Where is this mixed-use property located?
The property is located at 139 N 6th Ave West Bend, WI.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 9 residential apartments; 6 commercial spaces within the building; 3 storefronts on Main Street
