Mixed-Use Building with
For Sale
$520,000
1976 N Farwell Ave, Milwaukee, WI 53202
A commercial storefront shares the building with two apartments, including one one-bedroom unit and one three-bedroom unit.
Property Size2,970 SF
Price / SF$175.08
Days on Market88
Property Features for 1976 N Farwell Ave
General Information
Standard status
Active
Size
2,970 SF
Property subtype
Multi Family Home
Zoning
RES
Site & Location
Neighborhood
Northpoint
Corner Location
Yes
Mixed-Use Components
retail, residential
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Building Details
Building Size
2,970 SF
Year Built
1890
Buildings
1
Listing Agency:
Keller Williams Realty-Milwaukee North Shore
Listed By:
HIGHMARK RE Group* · License #5786890
(414) 517-7716
Source:
Defererealestate
Added: Jul 31
Changed: Oct 25
Last Checked: Oct 24 at 3:41PM
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 Keller Williams Realty-Milwaukee North Shore
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Investment Insights
Based on property information with market context.
This 2,970-square-foot mixed-use building combines a commercial storefront with two residential apartments. The apartments comprise a one-bedroom, one-bathroom unit and a three-bedroom, two-bathroom unit. Constructed in 1890, the property is zoned RES.
The building occupies the corner of Lafayette Place and Farwell Avenue on Milwaukee’s East Side. Restaurants, nightlife venues, and local businesses are in the surrounding area.
The building occupies the corner of Lafayette Place and Farwell Avenue on Milwaukee’s East Side. Restaurants, nightlife venues, and local businesses are in the surrounding area.
Key Highlights
- Commercial storefront with two residential apartments
- Apartment mix: 1 BR/1 BA and 3 BR/2 BA
- 2,970 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,264
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$725,280
$725.3K
Cap Rate 7%
$518,057
$518.1K
Cap Rate 9%
$402,933
$402.9K
Market Conditions
NOI Build-Up for 2,970 SF
Gross rent
$65.9K $22.20/SF
− Vacancy
−$7.9K −$2.66/SF
EGI
$58.0K $19.54/SF
− OpEx
−$21.8K −$7.33/SF
NOI
$36.3K $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 Rate 5%
$725,280
Cap Rate 7%
$518,057
Cap Rate 9%
$402,933
Alternative Uses
Best Use
Mixed Use
$518.1K
$453.3K – $604.4K
NOI $36,264 @ 7.0% cap · market cap 6.97%
Second Best
Retail
$445.1K
$389.4K – $519.2K
NOI $31,154 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$713.7K
$624.5K – $832.7K
NOI $49,960 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,416
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A commercial storefront shares the building with two apartments, including one one-bedroom unit and one three-bedroom unit.
Where is this mixed-use property located?
The property is located at 1976 N Farwell Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Commercial storefront with two residential apartments; Apartment mix: 1 BR/1 BA and 3 BR/2 BA; 2,970 square feet
