Flexible Warehouse and Service
For Sale
$279,900
2116 31ST ST, Milwaukee, WI 53208
A 6,816 sq. ft. warehouse with ample interior space and high ceilings, suited for service and light industrial uses.
Property Size6,816 SF
Price / SF$41.07
Days on Market72
Property Features for 2116 31ST ST
General Information
Standard status
Active
Size
6,816 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$2,967
Amenities
A/C - Other
3
Other
Commerical
10 Parking Spaces.
0.0 to .499
Building Details
Year Built
1945
Listing Agency:
Premier Point Realty LLC
(262) 729-5475
Listed By:
Christian Anderson
(262) 729-5475
Source:
Xome
Added: May 30
Changed: Aug 8
Last Checked: Aug 9 at 5:14AM
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 Premier Point Realty LLC
Investment Insights
Based on property information with market context.
This for-sale warehouse offers flexible interior space totaling 6,816 sq. ft., with ample room and high ceilings to support a range of service and light industrial needs. The layout is described as accommodating uses such as an auto repair shop, mechanic garage, contractor storage, and other service-based operations.
Located at 2116 N 31st Street in Milwaukee, WI 53208, the property is presented as having easy access to major Milwaukee routes.
Available as an owner-occupant or investment opportunity, the building’s combination of size and versatility is positioned for businesses that need functional warehouse space for day-to-day operations or storage.
Located at 2116 N 31st Street in Milwaukee, WI 53208, the property is presented as having easy access to major Milwaukee routes.
Available as an owner-occupant or investment opportunity, the building’s combination of size and versatility is positioned for businesses that need functional warehouse space for day-to-day operations or storage.
Key Highlights
- 6,816 sq. ft. warehouse at 2116 N 31st St with flexible interior space for service and light industrial uses
- Zoned Commerical
- 10 parking spaces
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
$24,820
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
8.87%
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%
$496,400
$496.4K
Cap Rate 7%
$354,571
$354.6K
Cap Rate 9%
$275,778
$275.8K
Market Conditions
NOI Build-Up for 6,816 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
$37.3K $5.47/SF
− Vacancy
−$1.8K −$0.27/SF
EGI
$35.5K $5.20/SF
− OpEx
−$10.6K −$1.56/SF
NOI
$24.8K $3.64/SF
Area
Milwaukee, 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%
$496,400
Cap Rate 7%
$354,571
Cap Rate 9%
$275,778
Alternative Uses
Best Use
Retail
$1.02M
$893.7K – $1.19M
NOI $71,496 @ 7.0% cap · market cap 25.54%
Second Best
Flex RnD
$958.7K
$838.8K – $1.12M
NOI $67,107 @ 7.0% cap · market cap 23.98%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,656 @ 7.0% cap · market cap 40.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
766
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53208, WI
29,644
Population
13,778
Households
2.2
Avg Household Size
33
Median Age
31%
College-Educated
89%
High-School Grad
4.2 sq mi
ZIP Area
7,058
Density / Sq Mi
$50,585
Median Household Income
$40,729
Median Earnings
$924
Median Rent
$196,300
Median Home Value
Market
Vacancy Rate% for Industrial in Milwaukee, WI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Compass Storage Facility — 3600 W Pierce St 1st floor, Milwaukee, WI 53215
- Stadium Self-Storage — 4000 W Burnham St, Milwaukee, WI 53215
- Express Storage Units - Cheap Self Storage Near You — 3910 w orchard st, milwaukee, wi 53215
- Prairie Land Towing - Milwaukee, WI — 2101 S 37th St., Milwaukee, WI 53215
- Aetna Moving & Storage Inc. — 2173 S Aetna Ln, Milwaukee, WI 53215
Frequently Asked Questions
What type of property is this?
Warehouse - A 6,816 sq. ft. warehouse with ample interior space and high ceilings, suited for service and light industrial uses.
Where is this warehouse located?
The property is located at 2116 31ST ST Milwaukee, WI.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 6,816 sq. ft. warehouse at 2116 N 31st St with flexible interior space for service and light industrial uses; Zoned Commerical; 10 parking spaces
