Mixed-Use Property with
For Sale
$625,000
3041 N Oakland Ave, Milwaukee, WI 53211
Operating salon space pairs with a furnished upper residence featuring flexible living areas and separate laundry facilities.
Property Size3,200 SF
Days on Market51
Property Features for 3041 N Oakland Ave
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Multi Family Home
Building Details
Building Size
3,200 SF
Year Built
1918
Listing Agency:
Berkshire Hathaway HomeServices Sophia Barry Realty Group
(262) 354-4006
Listed By:
Sophia Barry · License #5960890
(262) 354-4006
Source:
Therealtycompanyllc
Added: Jul 11
Changed: Aug 30
Last Checked: Aug 23 at 9:47AM
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 Berkshire Hathaway HomeServices Sophia Barry Realty Group
Investment Insights
Based on property information with market context.
This 3,200-square-foot mixed-use property, built in 1918, combines a fully equipped salon with a three-bedroom upper residence. The salon is currently leased and includes its own laundry area. The upper unit is furnished and professionally managed as a short-term rental, with a formal dining room, eat-in kitchen, oversized living room, hardwood flooring, granite countertops, and a spa bath with jetted tub. A second laundry area serves the residence.
Recent improvements include a new roof in 2022, new windows in 2020, and a new water heater in 2025. Three parking spaces are included. The property is within walking distance of UWM, Shorewood, Lake Michigan parks, and area shops and restaurants.
Recent improvements include a new roof in 2022, new windows in 2020, and a new water heater in 2025. Three parking spaces are included. The property is within walking distance of UWM, Shorewood, Lake Michigan parks, and area shops and restaurants.
Key Highlights
- 3,200‑square‑foot mixed‑use property built in 1918
- Fully equipped modern salon currently leased
- Three‑bedroom upper residence with formal dining room, eat‑in kitchen, and oversized living room
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
$39,072
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
6.25%
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%
$781,440
$781.4K
Cap Rate 7%
$558,171
$558.2K
Cap Rate 9%
$434,133
$434.1K
Market Conditions
NOI Build-Up for 3,200 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
$71.0K $22.20/SF
− Vacancy
−$8.5K −$2.66/SF
EGI
$62.5K $19.54/SF
− OpEx
−$23.4K −$7.33/SF
NOI
$39.1K $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%
$781,440
Cap Rate 7%
$558,171
Cap Rate 9%
$434,133
Alternative Uses
Best Use
Mixed Use
$558.2K
$488.4K – $651.2K
NOI $39,072 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$425.8K
$372.6K – $496.8K
NOI $29,805 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$769.0K
$672.9K – $897.2K
NOI $53,829 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
924
Businesses Nearby
Explore this area
Business Placement
Demographics for 53211, WI
36,327
Population
16,346
Households
2.2
Avg Household Size
29
Median Age
74%
College-Educated
98%
High-School Grad
4.0 sq mi
ZIP Area
9,082
Density / Sq Mi
$76,206
Median Household Income
$40,214
Median Earnings
$1,225
Median Rent
$413,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Operating salon space pairs with a furnished upper residence featuring flexible living areas and separate laundry facilities.
Where is this mixed-use property located?
The property is located at 3041 N Oakland Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3,200‑square‑foot mixed‑use property built in 1918; Fully equipped modern salon currently leased; Three‑bedroom upper residence with formal dining room, eat‑in kitchen, and oversized living room
