Historic Restaurant Property with
For Sale
$499,900
3146 S 27th St, Milwaukee, WI 53215
Historic restaurant property with existing commercial kitchen infrastructure and on-site parking along S. 27th Street.
Property Size1,300 SF
Price / SF$384.54
Days on Market92
Property Features for 3146 S 27th St
General Information
Standard status
Active
Size
1,300 SF
Building Details
Year Built
1948
Listing Agency:
Lannon Stone Realty LLC
Listed By:
Brandon Viliunas · License #91136-94
(414) 897-2276
Source:
Levelupwi
Added: Jul 21
Changed: Oct 11
Last Checked: Oct 7 at 1:04PM
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 Lannon Stone Realty LLC
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Investment Insights
Based on property information with market context.
This historic restaurant property is home to Mazos Restaurant, which has operated since 1934. The site includes existing commercial kitchen infrastructure and on-site parking, supporting current restaurant use and possible owner-user redevelopment.
Located along the S. 27th Street corridor, the property benefits from high visibility in a well-known South Side retail/restaurant setting. The configuration also offers flexible possibilities for restaurant, retail, or commercial redevelopment, depending on the buyer’s plans.
Located along the S. 27th Street corridor, the property benefits from high visibility in a well-known South Side retail/restaurant setting. The configuration also offers flexible possibilities for restaurant, retail, or commercial redevelopment, depending on the buyer’s plans.
Key Highlights
- Historic restaurant property known as Mazos Restaurant, operating as a South Side landmark since 1934
- Located along S. 27th Street corridor with high visibility
- Includes existing commercial kitchen infrastructure for restaurant use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,777
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$315,540
$315.5K
Cap Rate 7%
$225,386
$225.4K
Cap Rate 9%
$175,300
$175.3K
Market Conditions
NOI Build-Up for 1,300 SF
Gross rent
$22.6K $17.40/SF
− Vacancy
−$1.6K −$1.22/SF
EGI
$21.0K $16.18/SF
− OpEx
−$5.3K −$4.05/SF
NOI
$15.8K $12.14/SF
Area
ZIP 53215
Vacancy
7.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$315,540
Cap Rate 7%
$225,386
Cap Rate 9%
$175,300
Alternative Uses
Best Use
Industrial
$811.5K
$710.1K – $946.8K
NOI $56,806 @ 7.0% cap · market cap 11.36%
Second Best
Specialty Retail
$225.4K
$197.2K – $263.0K
NOI $15,777 @ 7.0% cap · market cap 3.16%
Theoretical Best
Warehouse
$985.4K
$862.2K – $1.15M
NOI $68,978 @ 7.0% cap · market cap 13.80%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53215, WI
59,359
Population
21,307
Households
2.8
Avg Household Size
31
Median Age
11%
College-Educated
67%
High-School Grad
5.5 sq mi
ZIP Area
10,793
Density / Sq Mi
$49,207
Median Household Income
$32,261
Median Earnings
$933
Median Rent
$148,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Milwaukee, WI
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Historic restaurant property with existing commercial kitchen infrastructure and on-site parking along S. 27th Street.
Where is this conventional restaurant located?
The property is located at 3146 S 27th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Historic restaurant property known as Mazos Restaurant, operating as a South Side landmark since 1934; Located along S. 27th Street corridor with high visibility; Includes existing commercial kitchen infrastructure for restaurant use
