Retail Storefront with
For Sale
Contact for pricing
3459 S Kinnickinnic Ave, Milwaukee, WI 53207
Brick storefront includes a restroom and back storage, plus an apartment with multiple bedrooms and a fenced yard.
Property Size1,385 SF
Price / SF$277.98
Days on Market150
Property Features for 3459 S Kinnickinnic Ave
General Information
Standard status
Active
Size
1,385 SF
Total Parking Spaces
2
Property subtype
RETAIL
Additional Details
Fenced Yard
Yes
Multifamily Units
1
Listing Agency:
City Commercial Real Estate, LLC
(262) 419-9419
Listed By:
Madeline Rzentkowski · License #9407194
(262) 419-9419
Source:
Moodyscre
Added: Mar 15
Changed: Aug 8
Last Checked: Aug 8 at 6:15PM
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, LLC
Investment Insights
Based on property information with market context.
This mixed-use property features a brick commercial storefront and an attached apartment. The storefront includes a defined retail area, a restroom, and ample storage in the back. The upper residential portion includes 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 includes a fenced-in yard, a small aluminum shed, and a divided two-car garage.
The residential portion was originally built in the 1920s and has been maintained with care. The brick storefront addition was completed in the mid-1950s, and it has since been occupied by a barbershop. Barbershop fixtures are included in the sale, except for the neon sign in the front window.
Floor plans are available upon request.
The residential portion was originally built in the 1920s and has been maintained with care. The brick storefront addition was completed in the mid-1950s, and it has since been occupied by a barbershop. Barbershop fixtures are included in the sale, except for the neon sign in the front window.
Floor plans are available upon request.
Key Highlights
- Brick commercial storefront on Kinnickinnic Ave with a 25ft x 12ft retail area, restroom, and back storage
- Includes a 3 bed/2 bath apartment unit with living room, kitchen, bedroom, and bathroom on the first level, plus 2 additional bedrooms and a den on the second level
- Original residential portion built in the 1920s and maintained with care
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
$14,528
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
3.77%
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%
$290,560
$290.6K
Cap Rate 7%
$207,543
$207.5K
Cap Rate 9%
$161,422
$161.4K
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
$22.4K $16.20/SF
− Vacancy
−$1.7K −$1.22/SF
EGI
$20.8K $14.99/SF
− OpEx
−$6.2K −$4.50/SF
NOI
$14.5K $10.49/SF
Area
Milwaukee, WI
Vacancy
7.50%
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%
$290,560
Cap Rate 7%
$207,543
Cap Rate 9%
$161,422
Alternative Uses
Best Use
Retail
$207.5K
$181.6K – $242.1K
NOI $14,528 @ 7.0% cap · market cap 3.77%
Second Best
Apartment 5plus
$184.3K
$161.3K – $215.0K
NOI $12,900 @ 7.0% cap · market cap 3.35%
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
Current Use
Lease Details
1
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
410
Businesses Nearby
Under-served
Demand for This Use
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 Retail in Milwaukee, WI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Brick storefront includes a restroom and back storage, plus an apartment with multiple bedrooms and a fenced yard.
Where is this storefront 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: Brick commercial storefront on Kinnickinnic Ave with a 25ft x 12ft retail area, restroom, and back storage; Includes a 3 bed/2 bath apartment unit with living room, kitchen, bedroom, and bathroom on the first level, plus 2 additional bedrooms and a den on the second level; Original residential portion built in the 1920s and maintained with care
