Mixed-Use Building with
New
For Sale
$520,000
Pending
1976 N Farwell AVENUE Unit 1978, Milwaukee, WI 53202
A 1890 Milwaukee property pairs commercial space with two apartments on the East Side.
Property Size2,970 SF
Days on Market4
Property Features for 1976 N Farwell AVENUE Unit 1978
General Information
Standard status
Pending
Size
2,970 SF
Property subtype
Multi Family
Site & Location
Neighborhood
Northpoint
Corner Location
Yes
Road Access
Yes
Mixed-Use Components
retail, residential
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
1890
Buildings
1
Listing Agency:
Keller Williams Realty-Milwaukee North Shore
Listed By:
HIGHMARK RE Group* · License #57868-90
(414) 517-7716
Source:
Lakecountryflatfee
Added: Oct 29
Changed: Oct 30
Last Checked: Oct 30 at 2:17AM
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.
Built in 1890, this mixed-use property includes a commercial storefront and two apartments: one with 1 bedroom and 1 bathroom, and another with 3 bedrooms and 2 bathrooms.
The building occupies the corner of Lafayette Place and Farwell Avenue on Milwaukee’s East Side. Restaurants, nightlife, and local businesses are part of the surrounding neighborhood.
The building occupies the corner of Lafayette Place and Farwell Avenue on Milwaukee’s East Side. Restaurants, nightlife, and local businesses are part of the surrounding neighborhood.
Key Highlights
- Commercial storefront with two residential apartments
- Apartment mix: 1 BR/1 BA and 3 BR/2 BA
- Corner location at Lafayette Place and Farwell Avenue
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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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
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 Retail in Milwaukee, WI
Frequently Asked Questions
What type of property is this?
Mixed-use property - A 1890 Milwaukee property pairs commercial space with two apartments on the East Side.
Where is this mixed-use property located?
The property is located at 1976 N Farwell AVENUE Unit 1978 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; Corner location at Lafayette Place and Farwell Avenue
