Mixed-Use Property with
New
For Sale
$575,000
3041 N Oakland Ave, Milwaukee, WI 53211
A three-bedroom upper residence complements a salon space with equipment and separate laundry.
Property Size3,200 SF
Price / SF$179.69
Days on Market4
Property Features for 3041 N Oakland Ave
General Information
Standard status
Active
Size
3,200 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Additional Details
Business Included
Yes
Amenities
hardwood floors
granite countertops
spa bath with jetted tub
laundry
eat in kitchen
Building Details
Year Built
1918
Listing Agency:
Berkshire Hathaway HomeServices Sophia Barry Realty Group
Listed By:
Sophia Barry · License #5960890
(262) 354-4006
Source:
Nikolicgroup
Added: Sep 29
Last Checked: Oct 1 at 2:46PM
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 pairs a salon with a three-bedroom apartment on the upper floor. The salon is equipped and vacant, while the upstairs residence is furnished and used for short-term rentals. Its layout includes a formal dining room, an eat-in kitchen, a large living room, hardwood floors, and in-unit laundry. A jetted tub and granite countertops are additional interior features. Laundry facilities are also available in the salon.
The property was built in 1918 and has three parking spaces. Improvements include a roof replacement in 2022, new windows in 2020, and a water heater installed in 2025. The address is within walking distance of UWM, Shorewood, Lake Michigan parks, and nearby shops and restaurants.
The property was built in 1918 and has three parking spaces. Improvements include a roof replacement in 2022, new windows in 2020, and a water heater installed in 2025. The address is within walking distance of UWM, Shorewood, Lake Michigan parks, and nearby shops and restaurants.
Key Highlights
- 3,200‑square‑foot mixed‑use property with salon and upstairs apartment
- Upper residence has 3 bedrooms and is furnished for short‑term rental use
- Equipped salon is vacant and includes laundry facilities
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
6.80%
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 6.80%
Second Best
Retail
$479.5K
$419.6K – $559.4K
NOI $33,566 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$769.0K
$672.9K – $897.2K
NOI $53,829 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A three-bedroom upper residence complements a salon space with equipment and separate laundry.
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 $575,000.
What are key features of this property?
This property features: 3,200‑square‑foot mixed‑use property with salon and upstairs apartment; Upper residence has 3 bedrooms and is furnished for short‑term rental use; Equipped salon is vacant and includes laundry facilities
