Creative Studio Condo with Spiral
For Sale
$275,000
1411 6th Ave, Grafton, WI 53024
Renovated masonry condominium with adaptable work areas, meeting space, kitchen facilities, and preserved architectural finishes.
Property Size2,226 SF
Price / SF$123.54
Days on Market66
Property Features for 1411 6th Ave
General Information
Standard status
Active
Size
2,226 SF
Building Details
Year Built
1959
Listing Agency:
Corley Real Estate
Listed By:
Paul Monigal · License #6684294
(262) 951-8497
Source:
Nikolicgroup
Added: Aug 12
Changed: Oct 5
Last Checked: Oct 15 at 1:43AM
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 Corley Real Estate
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Investment Insights
Based on property information with market context.
Suite 3 is a 2,226-square-foot commercial condominium within a renovated 1959 aluminum casting foundry. The all-masonry building combines restored terrazzo and oak parquet flooring with a private glass-front entry, an on-site cast spiral staircase, and vintage mesh aluminum curtains. The main level includes a lobby, conference room, and adjoining office, while the upper floor provides three flexible work areas, a galley kitchen with live-edge bar, a full bath, a half bath, and a flex room for storage or expansion.
The property includes ample parking and greenspace, with walkable access to shops, restaurants, and the river. Highway 60 and I-43 are minutes away, supporting convenient regional access for occupants and visitors.
The property includes ample parking and greenspace, with walkable access to shops, restaurants, and the river. Highway 60 and I-43 are minutes away, supporting convenient regional access for occupants and visitors.
Key Highlights
- 2,226‑square‑foot commercial condominium in a renovated 1959 foundry
- Private glass‑front lobby with spiral staircase cast on site
- Three upper‑level flexible workspaces plus a storage or expansion room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,106
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$162,120
$162.1K
Cap Rate 7%
$115,800
$115.8K
Cap Rate 9%
$90,067
$90.1K
Market Conditions
NOI Build-Up for 2,226 SF
Gross rent
$12.2K $5.47/SF
− Vacancy
−$597 −$0.27/SF
EGI
$11.6K $5.20/SF
− OpEx
−$3.5K −$1.56/SF
NOI
$8.1K $3.64/SF
Area
Ozaukee County, 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 Rate 5%
$162,120
Cap Rate 7%
$115,800
Cap Rate 9%
$90,067
Alternative Uses
Best Use
Office B
$403.9K
$353.4K – $471.2K
NOI $28,271 @ 7.0% cap · market cap 10.28%
Second Best
Industrial
$115.8K
$101.3K – $135.1K
NOI $8,106 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$524.5K
$458.9K – $611.9K
NOI $36,713 @ 7.0% cap · market cap 13.35%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
706
Businesses Nearby
Explore this area
Business Placement
Demographics for 53024, WI
18,291
Population
8,598
Households
2.1
Avg Household Size
44
Median Age
46%
College-Educated
99%
High-School Grad
27.5 sq mi
ZIP Area
665
Density / Sq Mi
$91,675
Median Household Income
$53,758
Median Earnings
$1,124
Median Rent
$353,700
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Creative space - Renovated masonry condominium with adaptable work areas, meeting space, kitchen facilities, and preserved architectural finishes.
Where is this creative space located?
The property is located at 1411 6th Ave Grafton, WI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 2,226‑square‑foot commercial condominium in a renovated 1959 foundry; Private glass‑front lobby with spiral staircase cast on site; Three upper‑level flexible workspaces plus a storage or expansion room
