Mixed-Use Property with
For Sale
$625,000
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$195.31
Days on Market17
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
(262) 354-4006
Listed By:
Sophia Barry · License #5960890
Source:
Jwregwi
Added: Aug 14
Changed: Aug 30
Last Checked: Aug 30 at 12:08PM
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 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 = 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 - 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 $625,000.
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
