Professional Office Building with
For Sale
$399,900
328 76TH ST, Milwaukee, WI 53213
2,400 SF office building with reception area, private offices, and three bathrooms, plus an additional garage area.
Property Size2,400 SF
Price / SF$166.63
Days on Market301
Property Features for 328 76TH ST
General Information
Standard status
Active
Size
2,400 SF
Property subtype
General Commercial
Lease Type
Modified Gross
Taxes and HOA fees
Annual Taxes
$3,930
Amenities
reception/waiting area
three private offices
three bathrooms
ample storage space
extra garage area for covered parking or additional storage
signage opportunities
Central Air
3
Carpet
LB2-Commercial
4 Parking Spaces.
0.0 to .499
Building Details
Year Built
1974
Listing Agency:
Anderson Commercial Group, LLC
(414) 550-8925
Listed By:
Kristen Parks · License #9034194
(414) 550-8925
Source:
Xome
Added: Oct 15, 2025
Changed: Aug 7
Last Checked: Aug 11 at 5:45AM
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 Anderson Commercial Group, LLC
Investment Insights
Based on property information with market context.
This 2,400 SF professional office building is designed for day-to-day client and staff use, with a welcoming reception and waiting area, three private offices, three bathrooms, and ample storage throughout. An additional garage area provides flexibility for covered parking and/or extra storage.
The property is positioned at the corner of Bluemound Road and N 76th Street, supporting strong visibility for signage opportunities. Convenient access for clients and staff is also highlighted in the offering.
The building is described as a long-maintained space, previously used by an insurance agency for more than 50 years, and is presented as a practical fit for professional, medical, or service-based businesses seeking an established office layout.
The property is positioned at the corner of Bluemound Road and N 76th Street, supporting strong visibility for signage opportunities. Convenient access for clients and staff is also highlighted in the offering.
The building is described as a long-maintained space, previously used by an insurance agency for more than 50 years, and is presented as a practical fit for professional, medical, or service-based businesses seeking an established office layout.
Key Highlights
- 2,400 SF professional office building built in 1974 with central air and carpet flooring
- Corner location at Bluemound Road and N 76th Street in Milwaukee
- Layout includes a reception/waiting area, 3 private offices, and ample storage
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
$27,670
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
6.92%
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%
$553,400
$553.4K
Cap Rate 7%
$395,286
$395.3K
Cap Rate 9%
$307,444
$307.4K
Market Conditions
NOI Build-Up for 2,400 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
$50.4K $21.00/SF
− Vacancy
−$4.3K −$1.79/SF
EGI
$46.1K $19.22/SF
− OpEx
−$18.4K −$7.69/SF
NOI
$27.7K $11.53/SF
Area
Milwaukee, WI
Vacancy
8.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
40.00%
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%
$553,400
Cap Rate 7%
$395,286
Cap Rate 9%
$307,444
Alternative Uses
Best Use
Healthcare Medical
$395.3K
$345.9K – $461.2K
NOI $27,670 @ 7.0% cap · market cap 6.92%
Second Best
Office B
$392.0K
$343.0K – $457.4K
NOI $27,443 @ 7.0% cap · market cap 6.86%
Theoretical Best
Office A
$576.7K
$504.7K – $672.9K
NOI $40,372 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
Explore this area
Business Placement
Demographics for 53213, WI
26,469
Population
12,591
Households
2.1
Avg Household Size
37
Median Age
63%
College-Educated
98%
High-School Grad
3.9 sq mi
ZIP Area
6,787
Density / Sq Mi
$94,144
Median Household Income
$59,472
Median Earnings
$1,228
Median Rent
$311,200
Median Home Value
Market
Vacancy Rate% for Office in Milwaukee, WI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 2,400 SF office building with reception area, private offices, and three bathrooms, plus an additional garage area.
Where is this office building located?
The property is located at 328 76TH ST Milwaukee, WI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 2,400 SF professional office building built in 1974 with central air and carpet flooring; Corner location at Bluemound Road and N 76th Street in Milwaukee; Layout includes a reception/waiting area, 3 private offices, and ample storage
