Historic Restaurant
For Sale
$499,900
3146 S 27th St, Milwaukee, WI 53215
N, Milwaukee, WI
Property Size1,300 SF
Lot Size0.11 Acres
Price / SF$384.54
Days on Market113
Property Features for 3146 S 27th St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMM
Standard status
Active
APN
5340407000
Size
1,300 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3500
Building Details
Year built
1948
Architectural style
Other
Listing Agency:
Lannon Stone Realty LLC
(262) 333-4440
Listed By:
Brandon Viliunas · License #91136-94
(414) 897-2276
Added: May 21
Changed: Aug 19
Last Checked: Sep 10 at 7:06AM
MLS# 1963951
Copyright © 2026 Metro MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This restaurant property at 3146 S 27th St in Milwaukee includes 1,300 square feet of building area on a 0.11-acre parcel. Constructed in 1948, the property retains commercial kitchen infrastructure and on-site parking, supporting continued restaurant use. The site is zoned COMM and has operated as a recognizable neighborhood restaurant associated with the South Side for decades.
Positioned along the S. 27th Street corridor, the property is also described as suitable for retail or commercial redevelopment. Its existing improvements provide an owner-user configuration with restaurant infrastructure already in place.
Positioned along the S. 27th Street corridor, the property is also described as suitable for retail or commercial redevelopment. Its existing improvements provide an owner-user configuration with restaurant infrastructure already in place.
Key Highlights
- 1,300‑square‑foot restaurant property on a 0.11‑acre parcel
- COMM zoning designation
- Existing commercial kitchen infrastructure
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
$15,777
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
3.16%
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%
$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
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
$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 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%
$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.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,372
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
View Realmo Analytics
Market
Vacancy Rate% for Retail in Milwaukee, WI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- New China Buffet — 3734 S 27th St, Milwaukee, WI 53221
Frequently Asked Questions
What type of property is this?
Conventional restaurant - COMM-zoned building with commercial kitchen infrastructure and functional 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: 1,300‑square‑foot restaurant property on a 0.11‑acre parcel; COMM zoning designation; Existing commercial kitchen infrastructure
