Mixed-Use Property on Kinnickinnic
For Sale
Contact for pricing
3459 S Kinnickinnic Ave, Milwaukee, WI 53207
Value-add opportunity with residential and commercial spaces on Kinnickinnic.
Property Size1,385 SF
Price / SF$277.98
Days on Market149
Property Features for 3459 S Kinnickinnic Ave
General Information
Standard status
Active
Size
1,385 SF
Property subtype
Mixed Use, Multifamily, Office, Retail
Zoning
LB-2
Building Details
Year Built
1920
Year Renovated
1955
Units
2
Listing Agency:
City Commercial Real Estate
(262) 419-9419
Listed By:
Madeline Rzentkowski · License #WI 94071-94
Source:
Crexi
Added: Mar 16
Changed: Aug 8
Last Checked: Aug 9 at 11:59AM
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 City Commercial Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property offers an opportunity for value-add or owner occupancy. It features a three-bedroom, one-bathroom apartment unit and a commercial storefront located on Kinnickinnic Avenue. The original residential portion of the building, constructed in the 1920s, has been maintained. A brick commercial storefront was added in the mid-1950s and has been occupied by a barbershop. The storefront includes a 25-foot by 12-foot retail area, a restroom, and storage space in the back. The upper residential unit has a kitchen, bedroom, bathroom, and living room on the first level, with two additional bedrooms and a den area on the second level. The property also features a fenced-in yard, a small aluminum shed, and a divided two-car garage. All barbershop fixtures, except for the neon sign in the front window, are included in the sale. The property size is 1385 square feet.
Key Highlights
- Commercial storefront on Kinnickinnic Ave offering immediate income potential or business opportunity.
- Three‑bedroom apartment unit ideal for owner occupancy or rental income.
- Well‑maintained original residential portion built in the 1920s.
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
$16,911
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
4.39%
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%
$338,220
$338.2K
Cap Rate 7%
$241,586
$241.6K
Cap Rate 9%
$187,900
$187.9K
Market Conditions
NOI Build-Up for 1,385 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
$30.7K $22.20/SF
− Vacancy
−$3.7K −$2.66/SF
EGI
$27.1K $19.54/SF
− OpEx
−$10.1K −$7.33/SF
NOI
$16.9K $12.21/SF
Area
Milwaukee, WI
Vacancy
12.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
37.50%
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%
$338,220
Cap Rate 7%
$241,586
Cap Rate 9%
$187,900
Alternative Uses
Best Use
Mixed Use
$241.6K
$211.4K – $281.9K
NOI $16,911 @ 7.0% cap · market cap 4.39%
Second Best
Retail
$207.5K
$181.6K – $242.1K
NOI $14,528 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$332.8K
$291.2K – $388.3K
NOI $23,298 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Explore this area
Business Placement
Demographics for 53207, WI
34,292
Population
17,278
Households
2
Avg Household Size
37
Median Age
45%
College-Educated
94%
High-School Grad
10.0 sq mi
ZIP Area
3,429
Density / Sq Mi
$79,576
Median Household Income
$53,886
Median Earnings
$1,145
Median Rent
$228,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Value-add opportunity with residential and commercial spaces on Kinnickinnic.
Where is this mixed-use property located?
The property is located at 3459 S Kinnickinnic Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Commercial storefront on Kinnickinnic Ave offering immediate income potential or business opportunity.; Three‑bedroom apartment unit ideal for owner occupancy or rental income.; Well‑maintained original residential portion built in the 1920s.
