Free-Standing Retail
For Sale
$469,000
3171 S 76th St, Milwaukee, WI 53219
N, Milwaukee, WI
Property Size2,863 SF
Lot Size0.34 Acres
Price / SF$163.81
Days on Market159
Property Features for 3171 S 76th St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
NS1 Commercial
Directions
South of Oklahoma on 76th st
Standard status
Active
APN
5279992110
Size
2,863 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11987
Building Details
Year built
1989
Architectural style
Other
Listing Agency:
RE/MAX Lakeside-South · RE/MAX International
(414) 325-0000
Listed By:
Yoon Kim · License #5218694
(414) 617-6980
Added: Mar 16
Changed: Aug 19
Last Checked: Aug 21 at 8:06PM
MLS# 1954009
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 well-maintained, free-standing masonry retail building offers about 2,863 square feet and an ample parking lot. The property was extended and remodeled in 2019 and features newer HVAC throughout. The current layout is identified as a formal dry cleaner; equipment is described as negotiable or can be removed, supporting flexible re-tenanting plans.
The building is located along S 76th St in a commercial corridor (Zoning: NS1 Commercial). Public remarks note a pylon sign on S 76th St, and convenient access for entering and exiting from 76th St. Nearby commercial activity includes a strip-mall anchor across the way with Tricity Bank, Dollar Tree, PNC Bank, and a bowling alley, with additional established national franchise restaurants in the surrounding area.
Additional disclosed economics include extra income from US Cellular for a portion of property tax, stated as $4,543 for 2025 and $7,184 for 2026.
The building is located along S 76th St in a commercial corridor (Zoning: NS1 Commercial). Public remarks note a pylon sign on S 76th St, and convenient access for entering and exiting from 76th St. Nearby commercial activity includes a strip-mall anchor across the way with Tricity Bank, Dollar Tree, PNC Bank, and a bowling alley, with additional established national franchise restaurants in the surrounding area.
Additional disclosed economics include extra income from US Cellular for a portion of property tax, stated as $4,543 for 2025 and $7,184 for 2026.
Key Highlights
- 1989‑built, free‑standing masonry commercial building with nearly 3,000 SF and ample on‑site parking.
- Building was extended and remodeled in 2019 and is reported as having all newer HVAC.
- Located on S 76th St near S 76th & Oklahoma, with a pylon sign for visibility from heavy traffic.
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
$29,707
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
6.33%
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%
$594,140
$594.1K
Cap Rate 7%
$424,386
$424.4K
Cap Rate 9%
$330,078
$330.1K
Market Conditions
NOI Build-Up for 2,863 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
$46.4K $16.20/SF
− Vacancy
−$3.9K −$1.38/SF
EGI
$42.4K $14.82/SF
− OpEx
−$12.7K −$4.45/SF
NOI
$29.7K $10.38/SF
Area
ZIP 53219
Vacancy
8.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$594,140
Cap Rate 7%
$424,386
Cap Rate 9%
$330,078
Alternative Uses
Best Use
Retail
$424.4K
$371.3K – $495.1K
NOI $29,707 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$688.0K
$602.0K – $802.7K
NOI $48,160 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53219, WI
34,925
Population
15,661
Households
2.2
Avg Household Size
38
Median Age
26%
College-Educated
90%
High-School Grad
5.0 sq mi
ZIP Area
6,985
Density / Sq Mi
$70,998
Median Household Income
$43,223
Median Earnings
$971
Median Rent
$190,300
Median Home Value
Market
Vacancy Rate% for Retail in Milwaukee, WI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Well-maintained masonry retail building with on-site parking and a pylon sign along S 76th St.
Where is this storefront property located?
The property is located at 3171 S 76th St Milwaukee, WI.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: 1989‑built, free‑standing masonry commercial building with nearly 3,000 SF and ample on‑site parking.; Building was extended and remodeled in 2019 and is reported as having all newer HVAC.; Located on S 76th St near S 76th & Oklahoma, with a pylon sign for visibility from heavy traffic.
