Four-Unit Retail Shopping
New
For Sale
$995,000
3040 DELAWARE AVE, Milwaukee, WI 53207
Updated building systems and restaurant-ready improvements support varied retail and dining configurations.
Property Size4,800 SF
Price / SF$207.29
Days on Market7
Property Features for 3040 DELAWARE AVE
General Information
Standard status
Active
Size
4,800 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$15,140
Amenities
3
LB2
8 Parking Spaces.
0.0 to .499
Building Details
Year Built
1928
Tenancy
Multi
Listing Agency:
The Realty Company, LLC
(262) 786-7690
Listed By:
Lorna Mueller · License #51541-90
(262) 786-7690
Source:
Xome
Added: Jul 28
Changed: Aug 3
Last Checked: Aug 3 at 5:45AM
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 The Realty Company, LLC
Investment Insights
Based on property information with market context.
This 4,800-square-foot shopping center at 3040-3046 S. Delaware Avenue contains four retail units. Building improvements include an updated facade, roof, windows, lighting, and entrances. The 3040-3042 space includes a commercial kitchen, full basement access, two restrooms, wood flooring, a full bar, one gas furnace, and rooftop air conditioning. A restaurant sign remains in place and may be reused.
The property is located in Milwaukee’s Bay View neighborhood. Eight parking spaces are provided on site. The Exchange occupies the 3044 unit under a three-year lease, while the 3040-3042 configuration offers existing restaurant infrastructure for a future operator or retail user.
The property is located in Milwaukee’s Bay View neighborhood. Eight parking spaces are provided on site. The Exchange occupies the 3044 unit under a three-year lease, while the 3040-3042 configuration offers existing restaurant infrastructure for a future operator or retail user.
Key Highlights
- 4,800‑square‑foot, four‑unit shopping center
- Updated facade, roof, windows, lighting, and entrances
- 3040‑3042 includes commercial kitchen, full basement, two restrooms, and full bar
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $83.5k | $17.40 |
| − Vacancy | −$5.0k | −$1.04 |
| EGI | $78.5k | $16.36 |
| − OpEx | −$19.6k | −$4.09 |
| NOI | $58.9k | $12.27 |
4,800 SF · lease $17.40/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$841.2K
$736.0K – $981.4K
NOI $58,882 @ 7.0% cap · market cap 5.92%
Second Best
Retail
$719.3K
$629.4K – $839.2K
NOI $50,350 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,744 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
332
Businesses Nearby
Under-served
Demand for This Use
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 Retail in Milwaukee, WI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Updated building systems and restaurant-ready improvements support varied retail and dining configurations.
Where is this shopping center located?
The property is located at 3040 DELAWARE AVE Milwaukee, WI.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 4,800‑square‑foot, four‑unit shopping center; Updated facade, roof, windows, lighting, and entrances; 3040‑3042 includes commercial kitchen, full basement, two restrooms, and full bar
