Mixed-Use Property with
For Sale
$599,900
3041 N Oakland Ave Unit 3043, Milwaukee, WI 53211
Equipped salon and furnished upper apartment combine commercial operations with residential use.
Property Size3,200 SF
Price / SF$187.47
Days on Market64
Property Features for 3041 N Oakland Ave Unit 3043
General Information
Standard status
Active
Size
3,200 SF
Building Details
Year Built
1918
Listing Agency:
Berkshire Hathaway HomeServices Sophia Barry Realty Group
Listed By:
Sophia Barry · License #5960890
(262) 354-4006
Source:
Jwregwi
Added: Aug 14
Changed: Oct 14
Last Checked: Oct 15 at 12:49AM
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 mixed-use property combines a fully equipped salon with an upper 3-bedroom apartment. The salon is currently leased, while the upper residence includes a formal dining room, eat-in kitchen, oversized living room, hardwood floors, laundry, granite countertops, and a spa bath with jetted tub. The apartment is fully furnished and operates as a professionally managed short-term rental.
Property updates include a new roof in '22, new windows in '20, and a new water heater in '25. Three parking spots are included, and the property also offers laundry in both the apartment and salon. Located within walking distance of UWM, Shorewood, Lake Michigan parks, and area shops and restaurants, the property is positioned for combined commercial and residential use.
Property updates include a new roof in '22, new windows in '20, and a new water heater in '25. Three parking spots are included, and the property also offers laundry in both the apartment and salon. Located within walking distance of UWM, Shorewood, Lake Michigan parks, and area shops and restaurants, the property is positioned for combined commercial and residential use.
Key Highlights
- Fully equipped salon is currently leased
- Upper 3 bedroom apartment with formal dining room and eat‑in kitchen
- Professionally managed, fully furnished short‑term rental
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,072
Cap Rate
6.51%
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 6.51%
Second Best
Apartment 5plus
$425.8K
$372.6K – $496.8K
NOI $29,805 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$769.0K
$672.9K – $897.2K
NOI $53,829 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Equipped salon and furnished upper apartment combine commercial operations with residential use.
Where is this mixed-use property located?
The property is located at 3041 N Oakland Ave Unit 3043 Milwaukee, WI.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Fully equipped salon is currently leased; Upper 3 bedroom apartment with formal dining room and eat‑in kitchen; Professionally managed, fully furnished short‑term rental
