3423 South Clement Avenue Milwaukee, WI 53207
Turn-key bar with apartments in Milwaukee's Bayview area.
Property Features for 3423 South Clement Avenue
General Information
- Standard status
- Active
- Size
- 3,390 SF
- Property subtype
- Multi-Family / Multi-Family
Building Details
- Year Built
- 1925
Listing office Century 21 Affiliated-Wauwatosa (414) 232-0437
Listing date Feb 26, 2025
Source Compass
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All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Affiliated-Wauwatosa
Investment Insights
Based on property information with market context.
Key Highlights
- Turn‑key bar/commercial space (approx. 1000 sq ft) with potential for restaurant or coffee shop conversion.
- Mix of residential units: one 1‑bedroom and two 2‑bedroom apartments.
- Recent upgrades: new roofs, concrete entrances, and furnaces.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.0k | $17.40 |
| − Vacancy | −$3.5k | −$1.04 |
| EGI | $55.4k | $16.36 |
| − OpEx | −$13.9k | −$4.09 |
| NOI | $41.6k | $12.27 |
