Multi-Unit Brick
For Sale
$675,000
2600 W Fond Du Lac Ave, Milwaukee, WI 53206
Fully leased warehouse with renovated shared facilities and updates to select building systems.
Property Size9,550 SF
Price / SF$70.68
Days on Market53
Property Features for 2600 W Fond Du Lac Ave
General Information
Standard status
Active
Size
9,550 SF
Building Details
Year Built
1921
Listing Agency:
Premier Point Realty LLC
(262) 224-5843
Listed By:
Erica L Winship
Source:
Levelupwi
Added: Jul 10
Changed: Aug 30
Last Checked: Aug 30 at 7:19PM
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.
Built in 1921, this 9,550-square-foot all-brick warehouse is arranged across about 20 parceled units. The property is fully rented and includes a communal kitchen and updated bathrooms, along with tenant-specific improvements. Select areas have received new HVAC, electrical, plumbing, and finish work.
Exterior improvements include fencing, blacktop work, lighting, security paint, and doors. The property is located at 2600 W Fond Du Lac Ave in Milwaukee, where Sherman Park meets Lindsay Heights and near Fondy Farmers Market. Its multi-unit layout accommodates a range of established commercial occupants, including podcasters, musicians, and beauty shops.
Exterior improvements include fencing, blacktop work, lighting, security paint, and doors. The property is located at 2600 W Fond Du Lac Ave in Milwaukee, where Sherman Park meets Lindsay Heights and near Fondy Farmers Market. Its multi-unit layout accommodates a range of established commercial occupants, including podcasters, musicians, and beauty shops.
Key Highlights
- 9,550‑square‑foot all‑brick warehouse built in 1921
- About 20 parceled units; currently fully rented
- Renovated bathrooms and communal kitchen
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
$42,227
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
6.26%
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%
$844,540
$844.5K
Cap Rate 7%
$603,243
$603.2K
Cap Rate 9%
$469,189
$469.2K
Market Conditions
NOI Build-Up for 9,550 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
$52.2K $5.47/SF
− Vacancy
−$2.6K −$0.27/SF
EGI
$49.7K $5.20/SF
− OpEx
−$7.5K −$0.78/SF
NOI
$42.2K $4.42/SF
Area
Milwaukee, WI
Vacancy
4.90%
Lease Rate
$5.47 /SF/Yr
Expense Ratio
15.00%
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%
$844,540
Cap Rate 7%
$603,243
Cap Rate 9%
$469,189
Alternative Uses
Best Use
Office B
$1.56M
$1.36M – $1.82M
NOI $109,199 @ 7.0% cap · market cap 16.18%
Second Best
Flex RnD
$1.34M
$1.18M – $1.57M
NOI $94,025 @ 7.0% cap · market cap 13.93%
Theoretical Best
Office A
$2.29M
$2.01M – $2.68M
NOI $160,646 @ 7.0% cap · market cap 23.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
651
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53206, WI
22,816
Population
10,077
Households
2.3
Avg Household Size
32
Median Age
7%
College-Educated
82%
High-School Grad
2.7 sq mi
ZIP Area
8,450
Density / Sq Mi
$28,995
Median Household Income
$25,655
Median Earnings
$998
Median Rent
$70,800
Median Home Value
Market
Vacancy Rate% for Office in Milwaukee, WI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Fully leased warehouse with renovated shared facilities and updates to select building systems.
Where is this warehouse located?
The property is located at 2600 W Fond Du Lac Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 9,550‑square‑foot all‑brick warehouse built in 1921; About 20 parceled units; currently fully rented; Renovated bathrooms and communal kitchen
