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2275 N MAYFAIR RD, Wauwatosa, WI 53226
Signalized corner placement connects the property with two primary commercial corridors and established medical and retail activity.
Property Size34,999 SF
Lot Size2.69 Acres
Price / SF$191.43
Days on Market11
Property Features for 2275 N MAYFAIR RD
General Information
Standard status
Active
Size
34,999 SF
Lot size
2.69 Acres
Property subtype
Retail
Occupancy
100%
Net Operating Income
$485,145
Site & Location
Corner Location
Yes
Traffic Count
65,500 vehicles/day
Building Details
Year Built
2000
Units
2
Tenancy
Multi
Listing Agency:
Northmarq Capital, LLC
Listed By:
BJ Feller · License #IL 471007951
Source:
Crexi
Added: Aug 20
Changed: Aug 30
Last Checked: Aug 30 at 2:13AM
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 Northmarq Capital, LLC
Investment Insights
Based on property information with market context.
The Shops at Mayfair Corner is a 34,999-square-foot shopping center with multiple tenants, completed in 2000. The property occupies 2.69 acres at the signalized intersection of N Mayfair Road and W North Avenue in Wauwatosa, Wisconsin. Its retail-oriented configuration supports a range of medical, service, convenience, and other commercial uses identified for the site.
The intersection accommodates more than 65,500 combined vehicles per day, with access from both commercial corridors. Froedtert Hospital and the Milwaukee Regional Medical Center are immediately adjacent, while Mayfair Mall and a substantial concentration of national retailers, restaurants, medical users, and regional employers are nearby. The surrounding three-mile trade area includes more than 95,000 residents and has an average household income of $125,165, projected to exceed $141,000 by 2030.
The intersection accommodates more than 65,500 combined vehicles per day, with access from both commercial corridors. Froedtert Hospital and the Milwaukee Regional Medical Center are immediately adjacent, while Mayfair Mall and a substantial concentration of national retailers, restaurants, medical users, and regional employers are nearby. The surrounding three-mile trade area includes more than 95,000 residents and has an average household income of $125,165, projected to exceed $141,000 by 2030.
Key Highlights
- 34,999‑square‑foot multi‑tenant shopping center completed in 2000
- 2.69‑acre property at 2275 N Mayfair Road in Wauwatosa, Wisconsin
- Signalized intersection of N Mayfair Road and W North Avenue
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
$354,260
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
5.29%
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%
$7,085,200
$7.1M
Cap Rate 7%
$5,060,857
$5.1M
Cap Rate 9%
$3,936,222
$3.9M
Market Conditions
NOI Build-Up for 34,999 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
$525.0K $15.00/SF
− Vacancy
−$18.9K −$0.54/SF
EGI
$506.1K $14.46/SF
− OpEx
−$151.8K −$4.34/SF
NOI
$354.3K $10.12/SF
Area
Milwaukee County, WI
Vacancy
3.60%
Lease Rate
$15.00 /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%
$7,085,200
Cap Rate 7%
$5,060,857
Cap Rate 9%
$3,936,222
Alternative Uses
Best Use
Retail
$5.06M
$4.43M – $5.90M
NOI $354,260 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.30M
$7.26M – $9.68M
NOI $580,968 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
65,500 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,451
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53226, WI
19,921
Population
8,912
Households
2.2
Avg Household Size
37
Median Age
60%
College-Educated
97%
High-School Grad
6.8 sq mi
ZIP Area
2,930
Density / Sq Mi
$86,361
Median Household Income
$57,753
Median Earnings
$1,348
Median Rent
$301,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Coinstar — 1717 N Mayfair Rd, Milwaukee, WI 53226
- India spice Milwaukee — 10701 W North Ave, Wauwatosa, WI 53226
- La Mesa Mexican Grill Mayfair Mall — 2500 N Mayfair Rd, Wauwatosa, WI 53226
- Mayfair — 2500 N Mayfair Rd, Wauwatosa, WI 53226
- Sunglass Hut — 2500 N Mayfair Rd #402, Wauwatosa, WI 53226
Frequently Asked Questions
What type of property is this?
Shopping center - Signalized corner placement connects the property with two primary commercial corridors and established medical and retail activity.
Where is this shopping center located?
The property is located at 2275 N MAYFAIR RD Wauwatosa, WI.
What is the asking price?
The asking price for this property is $6,700,000.
What are key features of this property?
This property features: 34,999‑square‑foot multi‑tenant shopping center completed in 2000; 2.69‑acre property at 2275 N Mayfair Road in Wauwatosa, Wisconsin; Signalized intersection of N Mayfair Road and W North Avenue
