Mixed-Use Property with
New
For Sale
$2,000,000
3514 N Port Washington Ave, Milwaukee, WI 53212
Adaptable property combines creative workspaces, event space, offices, a commercial kitchen, and residential units.
Property Size9,960 SF
Price / SF$200.80
Days on Market2
Property Features for 3514 N Port Washington Ave
General Information
Standard status
Active
Size
9,960 SF
Property subtype
Multi-Family
Building Details
Year Built
1928
Listing Agency:
Soulful Realty LLC
Listed By:
Lamaine Harris
(414) 326-7140
Source:
Nikolicgroup
Added: Sep 1
Last Checked: Sep 1 at 8:51PM
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 Soulful Realty LLC
Investment Insights
Based on property information with market context.
Located at 3514 N Port Washington Ave in Milwaukee, this 9,960-square-foot mixed-use property was built in 1928. The building includes nine private studios with 24-hour keyed access, designated office areas, a gallery and event space, and a commercial kitchen. Two residential units add a residential component to the overall layout.
The configuration brings together creative, administrative, event, culinary, and residential spaces within one building. The gallery and event area provides a dedicated setting for gatherings, while the studios offer individually separated workspaces. The commercial kitchen expands the facility’s functional range, and the residential units provide additional on-site accommodation within the mixed-use arrangement.
The configuration brings together creative, administrative, event, culinary, and residential spaces within one building. The gallery and event area provides a dedicated setting for gatherings, while the studios offer individually separated workspaces. The commercial kitchen expands the facility’s functional range, and the residential units provide additional on-site accommodation within the mixed-use arrangement.
Key Highlights
- 9,960‑square‑foot mixed‑use property at 3514 N Port Washington Ave, Milwaukee, WI 53212
- Nine private studios with 24‑hour keyed access
- Gallery and event space included
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
$121,612
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
6.08%
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%
$2,432,240
$2.4M
Cap Rate 7%
$1,737,314
$1.7M
Cap Rate 9%
$1,351,244
$1.4M
Market Conditions
NOI Build-Up for 9,960 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
$221.1K $22.20/SF
− Vacancy
−$26.5K −$2.66/SF
EGI
$194.6K $19.54/SF
− OpEx
−$73.0K −$7.33/SF
NOI
$121.6K $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%
$2,432,240
Cap Rate 7%
$1,737,314
Cap Rate 9%
$1,351,244
Alternative Uses
Best Use
Mixed Use
$1.74M
$1.52M – $2.03M
NOI $121,612 @ 7.0% cap · market cap 6.08%
Second Best
Office B
$1.63M
$1.42M – $1.90M
NOI $113,888 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,543 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
848
Businesses Nearby
Explore this area
Business Placement
Demographics for 53212, WI
28,702
Population
15,749
Households
1.8
Avg Household Size
32
Median Age
37%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
7,000
Density / Sq Mi
$42,679
Median Household Income
$36,578
Median Earnings
$1,038
Median Rent
$204,300
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?
Mixed-use property - Adaptable property combines creative workspaces, event space, offices, a commercial kitchen, and residential units.
Where is this mixed-use property located?
The property is located at 3514 N Port Washington Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 9,960‑square‑foot mixed‑use property at 3514 N Port Washington Ave, Milwaukee, WI 53212; Nine private studios with 24‑hour keyed access; Gallery and event space included
