Mixed-Use Building with
For Sale
Contact for pricing
1800 N Farwell Ave, Milwaukee, WI 53202
Ten renovated apartments accompany five street-level commercial suites in a mixed-use configuration along Farwell Avenue.
Property Size16,200 SF
Price / SF$179.01
Days on Market10
Property Features for 1800 N Farwell Ave
General Information
Standard status
Active
Size
16,200 SF
Property subtype
Mixed Use
Net Operating Income
$175,466
Additional Details
Road Access
Yes
Multifamily Units
10
Building Details
Year Built
1927
Year Renovated
2025
Buildings
1
Units
10
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Milwaukee
Listed By:
Dan Bowar · License #WI: 97683-94
Source:
Crexi
Added: Aug 11
Changed: Aug 17
Last Checked: Aug 19 at 4:44PM
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 Marcus & Millichap - Milwaukee
Investment Insights
Based on property information with market context.
Built in 1927, the 16,200-square-foot property combines ten residential apartments with five commercial suites at street level. The apartments have been fully renovated, while the commercial component provides separate space for retail, dining, entertainment, or other business uses supported by the surrounding district.
The building fronts N. Farwell Avenue in Milwaukee’s East Side neighborhood, within a walkable setting near retail, dining, and entertainment. The property is minutes from Downtown Milwaukee and the Lake Michigan shoreline, with nearby residential density, employment centers, higher education institutions, and neighborhood amenities.
The building fronts N. Farwell Avenue in Milwaukee’s East Side neighborhood, within a walkable setting near retail, dining, and entertainment. The property is minutes from Downtown Milwaukee and the Lake Michigan shoreline, with nearby residential density, employment centers, higher education institutions, and neighborhood amenities.
Key Highlights
- 16,200‑square‑foot mixed‑use property built in 1927
- Ten fully renovated residential apartments
- Five street‑level commercial suites
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
$197,802
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
6.82%
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%
$3,956,040
$4.0M
Cap Rate 7%
$2,825,743
$2.8M
Cap Rate 9%
$2,197,800
$2.2M
Market Conditions
NOI Build-Up for 16,200 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
$359.6K $22.20/SF
− Vacancy
−$43.2K −$2.66/SF
EGI
$316.5K $19.54/SF
− OpEx
−$118.7K −$7.33/SF
NOI
$197.8K $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%
$3,956,040
Cap Rate 7%
$2,825,743
Cap Rate 9%
$2,197,800
Alternative Uses
Best Use
Mixed Use
$2.83M
$2.47M – $3.30M
NOI $197,802 @ 7.0% cap · market cap 6.82%
Second Best
Retail
$2.43M
$2.12M – $2.83M
NOI $169,930 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$3.89M
$3.41M – $4.54M
NOI $272,510 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,439
Businesses Nearby
Explore this area
Business Placement
Demographics for 53202, WI
27,897
Population
18,629
Households
1.5
Avg Household Size
31
Median Age
66%
College-Educated
98%
High-School Grad
2.1 sq mi
ZIP Area
13,284
Density / Sq Mi
$68,482
Median Household Income
$52,339
Median Earnings
$1,234
Median Rent
$298,000
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 - Ten renovated apartments accompany five street-level commercial suites in a mixed-use configuration along Farwell Avenue.
Where is this mixed-use property located?
The property is located at 1800 N Farwell Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 16,200‑square‑foot mixed‑use property built in 1927; Ten fully renovated residential apartments; Five street‑level commercial suites
