Mixed-Use Property with
3041 N Oakland Ave, Milwaukee, WI 53211
For Sale
$575,000
A vacant salon with equipment occupies the ground floor, with a three-bedroom apartment above.
Property Size3,200 SF
Price / SF$179.69
Days on Market45
Property Features for 3041 N Oakland Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Furnished
Business Included
Currently Operating
Taxes and HOA fees
Annual Taxes
Amenities
on-site laundry
spa bath
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Berkshire Hathaway HomeServices Sophia Barry Realty Group
Listed By:
Sophia Barry · License #5960890
(262) 354-4006
Source:
Esorgroup
Added: Sep 26
Changed: Nov 7
Last Checked: Nov 9 at 5:33AM
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
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Investment Insights
Based on property information with market context.
This 3,200-square-foot mixed-use property combines a salon space with an upper-level, three-bedroom apartment. The salon is equipped and vacant. The apartment has laundry, hardwood floors, a formal dining room, an eat-in kitchen, and an oversized living room, along with a jetted tub and granite countertops. The property includes three parking spaces. Improvements include a roof installed in 2022, windows replaced in 2020, and a water heater added in 2025; the building dates to 1918 and is zoned RT3.
The apartment is furnished and used for short-term stays, with professional management. The property is within walking distance of UWM, Shorewood, Lake Michigan parks, and nearby shops and restaurants.
The apartment is furnished and used for short-term stays, with professional management. The property 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 space and a three‑bedroom apartment
- Equipped salon space is currently vacant
- Furnished upper apartment is professionally managed for short‑term stays
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,072
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
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
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 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
Apartment 5plus
$425.8K
$372.6K – $496.8K
NOI $29,805 @ 7.0% cap · market cap 5.18%
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.
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Current Use
Lease Details
1
Residential units
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
$413,500
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Milwaukee, WI
Properties on Market for Mixed-use properties in Milwaukee
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A vacant salon with equipment occupies the ground floor, with a three-bedroom apartment above.
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 space and a three‑bedroom apartment; Equipped salon space is currently vacant; Furnished upper apartment is professionally managed for short‑term stays
