Renovated Mixed-Use
For Sale
$444,900
2986 S Kinnickinnic AVENUE, Milwaukee, WI 53207
Residential quarters pair with adaptable commercial space in a live-work configuration.
Property Size1,495 SF
Price / SF$297.59
Days on Market279
Property Features for 2986 S Kinnickinnic AVENUE
General Information
Standard status
Active
Size
1,495 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$5,437
Amenities
Central Air
3
commercial
0.0 to .499
Building Details
Year Built
1920
Listing Agency:
Cherry Home Realty, LLC
(414) 559-1743
Listed By:
Alfredo Cuevas
(414) 559-1743
Source:
Xome
Added: Nov 24, 2025
Changed: Aug 30
Last Checked: Aug 30 at 7:07AM
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 Cherry Home Realty, LLC
Investment Insights
Based on property information with market context.
This mixed-use property combines a remodeled residential area at the rear with commercial space available for a future business concept. The residential layout includes three bedrooms on the first level and a second-level studio or primary-bedroom suite. An open kitchen features new cabinetry, tiled backsplash, decorative ceiling details, a breakfast buffet, hooded range, and stainless-steel appliances. A laundry and mudroom adds a built-in bench and planning desk.
Property updates include new furnaces, plumbing, electrical, air conditioning, windows, and fencing, along with a newer roof. Built in 1920, the property is located at 2986 S Kinnickinnic Avenue in Milwaukee. Bars, restaurants, coffee shops, and the lakefront are within the surrounding area, with the property currently used as an Airbnb.
Property updates include new furnaces, plumbing, electrical, air conditioning, windows, and fencing, along with a newer roof. Built in 1920, the property is located at 2986 S Kinnickinnic Avenue in Milwaukee. Bars, restaurants, coffee shops, and the lakefront are within the surrounding area, with the property currently used as an Airbnb.
Key Highlights
- Remodeled rear residential space with three first‑level bedrooms and a second‑level studio or primary‑bedroom suite
- Open kitchen with new cabinets, tiled backsplash, hooded range, stainless‑steel appliances, and breakfast buffet
- Updated furnaces, plumbing, electrical, air conditioning, windows, and fence
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
$18,254
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
4.10%
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%
$365,080
$365.1K
Cap Rate 7%
$260,771
$260.8K
Cap Rate 9%
$202,822
$202.8K
Market Conditions
NOI Build-Up for 1,495 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
$33.2K $22.20/SF
− Vacancy
−$4.0K −$2.66/SF
EGI
$29.2K $19.54/SF
− OpEx
−$11.0K −$7.33/SF
NOI
$18.3K $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 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%
$365,080
Cap Rate 7%
$260,771
Cap Rate 9%
$202,822
Alternative Uses
Best Use
Mixed Use
$260.8K
$228.2K – $304.2K
NOI $18,254 @ 7.0% cap · market cap 4.10%
Second Best
Office B
$244.2K
$213.7K – $284.9K
NOI $17,095 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$359.3K
$314.4K – $419.1K
NOI $25,148 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
501
Businesses Nearby
Explore this area
Business Placement
Demographics for 53207, WI
34,292
Population
17,278
Households
2
Avg Household Size
37
Median Age
45%
College-Educated
94%
High-School Grad
10.0 sq mi
ZIP Area
3,429
Density / Sq Mi
$79,576
Median Household Income
$53,886
Median Earnings
$1,145
Median Rent
$228,500
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?
Mixed-use property - Residential quarters pair with adaptable commercial space in a live-work configuration.
Where is this mixed-use property located?
The property is located at 2986 S Kinnickinnic AVENUE Milwaukee, WI.
What is the asking price?
The asking price for this property is $444,900.
What are key features of this property?
This property features: Remodeled rear residential space with three first‑level bedrooms and a second‑level studio or primary‑bedroom suite; Open kitchen with new cabinets, tiled backsplash, hooded range, stainless‑steel appliances, and breakfast buffet; Updated furnaces, plumbing, electrical, air conditioning, windows, and fence
