Live-Work Commercial
For Sale
$345,000
149 Wisconsin AVENUE, Waukesha, WI 53186
ADA-accessible, one-story spancrete building with a fully operational commercial elevator.
Property Size7,800 SF
Price / SF$44.23
Days on Market140
Property Features for 149 Wisconsin AVENUE
General Information
Standard status
Active
Size
7,800 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$6,138
Amenities
Central Air
3
Carpet
B3
3 Parking Spaces.
0.0 to .499
Building Details
Year Built
1970
Listing Agency:
V-Group, LLC
(262) 650-8544
Listed By:
Victoria Hekkers · License #9058121
Source:
Xome
Added: Apr 6
Changed: Aug 23
Last Checked: Aug 21 at 8:14AM
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 V-Group, LLC
Investment Insights
Based on property information with market context.
This modern, all-brick commercial building offers a one-story spancrete layout and ADA accessibility. It is sized at 7,800 square feet and is designed to support an owner-occupant who needs space to spread out. A key feature is the fully operational commercial elevator, intended to move products without relying on stairs.
The property is centrally located on Wisconsin Avenue in downtown Waukesha. The local zoning code allows a live/work scenario in the B3 district, and it provides additional flexibility for interested buyers. Buyers should perform their own due diligence.
The property is centrally located on Wisconsin Avenue in downtown Waukesha. The local zoning code allows a live/work scenario in the B3 district, and it provides additional flexibility for interested buyers. Buyers should perform their own due diligence.
Key Highlights
- 7,800 SF, all‑brick, one‑story spancrete building built in 1970
- ADA‑accessible layout for accessible entry and use
- Fully operational commercial elevator for moving products without stairs
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
$28,403
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
8.23%
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%
$568,060
$568.1K
Cap Rate 7%
$405,757
$405.8K
Cap Rate 9%
$315,589
$315.6K
Market Conditions
NOI Build-Up for 7,800 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
$42.7K $5.47/SF
− Vacancy
−$2.1K −$0.27/SF
EGI
$40.6K $5.20/SF
− OpEx
−$12.2K −$1.56/SF
NOI
$28.4K $3.64/SF
Area
Waukesha 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 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%
$568,060
Cap Rate 7%
$405,757
Cap Rate 9%
$315,589
Alternative Uses
Best Use
Flex RnD
$3.98M
$3.48M – $4.64M
NOI $278,662 @ 7.0% cap · market cap 80.77%
Second Best
Office B
$1.55M
$1.35M – $1.80M
NOI $108,288 @ 7.0% cap · market cap 31.39%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,559
Businesses Nearby
Explore this area
Business Placement
Demographics for 53186, WI
32,332
Population
15,066
Households
2.1
Avg Household Size
38
Median Age
39%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
2,566
Density / Sq Mi
$74,596
Median Household Income
$42,007
Median Earnings
$1,180
Median Rent
$277,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - ADA-accessible, one-story spancrete building with a fully operational commercial elevator.
Where is this live-work space located?
The property is located at 149 Wisconsin AVENUE Waukesha, WI.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: 7,800 SF, all‑brick, one‑story spancrete building built in 1970; ADA‑accessible layout for accessible entry and use; Fully operational commercial elevator for moving products without stairs
