Mixed-Use Property with
For Sale
$375,000
1937 W Greenfield Ave, Milwaukee, WI 53204
Commercial space is paired with residential income potential and street-facing visibility.
Property Size2,385 SF
Price / SF$157.23
Days on Market51
Property Features for 1937 W Greenfield Ave
General Information
Standard status
Active
Size
2,385 SF
Taxes and HOA fees
Annual Taxes
$3,102
Listing Agency:
EXP Realty, LLC~MKE
(773) 943-1758
Listed By:
Rahena Rahman · License #9640694
(773) 943-1758
Source:
Exprealty
Added: Jul 6
Changed: Aug 20
Last Checked: Aug 24 at 1:32PM
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 EXP Realty, LLC~MKE
Investment Insights
Based on property information with market context.
This mixed-use property combines commercial space with an additional residential income component. The configuration may support an owner-occupant seeking business space alongside rental income, subject to verification of room sizes, zoning, and permitted uses.
The property is positioned along W Greenfield Ave in Milwaukee, with street visibility, access to major roads, and proximity to local amenities. The reported property size is 2,385, while specific room dimensions and regulatory details require buyer verification.
The property is positioned along W Greenfield Ave in Milwaukee, with street visibility, access to major roads, and proximity to local amenities. The reported property size is 2,385, while specific room dimensions and regulatory details require buyer verification.
Key Highlights
- Mixed‑use property with commercial and residential components
- Commercial space with additional residential income potential
- Street visibility along W Greenfield Ave
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
$29,121
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
7.77%
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%
$582,420
$582.4K
Cap Rate 7%
$416,014
$416.0K
Cap Rate 9%
$323,567
$323.6K
Market Conditions
NOI Build-Up for 2,385 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
$52.9K $22.20/SF
− Vacancy
−$6.4K −$2.66/SF
EGI
$46.6K $19.54/SF
− OpEx
−$17.5K −$7.33/SF
NOI
$29.1K $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%
$582,420
Cap Rate 7%
$416,014
Cap Rate 9%
$323,567
Alternative Uses
Best Use
Mixed Use
$416.0K
$364.0K – $485.4K
NOI $29,121 @ 7.0% cap · market cap 7.77%
Second Best
Retail
$357.4K
$312.7K – $417.0K
NOI $25,017 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$573.1K
$501.5K – $668.7K
NOI $40,120 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,320
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 Retail in Milwaukee, WI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space is paired with residential income potential and street-facing visibility.
Where is this mixed-use property located?
The property is located at 1937 W Greenfield Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Mixed‑use property with commercial and residential components; Commercial space with additional residential income potential; Street visibility along W Greenfield Ave
