Mixed-Use Apartment Building with
For Sale
Contact for pricing
3575 N Oakland Ave, Shorewood, WI 53211
Five-story 44-unit apartment building with ground-floor retail, renovated in 2009 and 2019, and multiple tenants in place.
Property Size51,967 SF
Price / SF$134.70
Days on Market234
Property Features for 3575 N Oakland Ave
General Information
Standard status
Active
Size
51,967 SF
Class
B
Property subtype
Multifamily, Retail
Zoning
B-1
Building Details
Year Built
1962
Stories
5
Listing Agency:
The Realty Company LLC
(414) 405-7128
Listed By:
Lorna Mueller · License #51541-90
Source:
Crexi
Added: Dec 12, 2025
Changed: Jul 22
Last Checked: Jul 22 at 9:38PM
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 The Realty Company LLC
Investment Insights
Based on property information with market context.
The Sheridan is a five-story, 44-unit apartment building built in 1962 and renovated in 2009 and 2019. The residential component consists of 43 two-bedroom units and one one-bedroom unit, with the two-bedroom mix including configurations with one bath, one-and-a-half baths, and two baths. One elevator serves all five levels and the lower level. The lower level includes laundry, storage lockers, and parking access. Off-street parking totals 57 spaces.
The building also includes ground-floor retail totaling 7,344 SF. That space is leased to McCade Insurance Agency, Exercise Coach, Tenderness Health Care, and Beu Face & Body Lounge.
Located at 3575 N Oakland Ave in Shorewood, the property is just south of Oakland Ave and Capitol Dr. with proximity to the UW Milwaukee Campus. The surrounding area offers walkable access to restaurants, shops, and entertainment, and the I-43 interchange is only minutes away.
The building also includes ground-floor retail totaling 7,344 SF. That space is leased to McCade Insurance Agency, Exercise Coach, Tenderness Health Care, and Beu Face & Body Lounge.
Located at 3575 N Oakland Ave in Shorewood, the property is just south of Oakland Ave and Capitol Dr. with proximity to the UW Milwaukee Campus. The surrounding area offers walkable access to restaurants, shops, and entertainment, and the I-43 interchange is only minutes away.
Key Highlights
- Five‑story, 44‑unit apartment building built in 1962, renovated in 2009 and 2019
- Residential mix: 43 two‑bedroom units and 1 one‑bedroom unit (2BR: 20 one bath, 19 1.5 baths, 4 two baths)
- Ground‑floor retail totals 7,344 SF and is leased to McCade Insurance Agency, Exercise Coach, Tenderness Health Care, and Beu Face & Body Lounge
Financial Insights For 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 | $779.5k | $15.00 |
| − Vacancy | −$28.1k | −$0.54 |
| EGI | $751.4k | $14.46 |
| − OpEx | −$225.4k | −$4.34 |
| NOI | $526.0k | $10.12 |
51,967 SF · lease $15.00/SF/yr · vacancy 3.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$7.51M
$6.58M – $8.77M
NOI $526,010 @ 7.0% cap · market cap 7.51%
Second Best
Apartment 5plus
$7.11M
$6.22M – $8.29M
NOI $497,475 @ 7.0% cap · market cap 7.11%
Theoretical Best
Office A
$12.32M
$10.78M – $14.38M
NOI $862,629 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,134
Businesses Nearby
Explore this area
Business Placement
Demographics for 53211, WI
36,327
Population
16,346
Households
2.2
Avg Household Size
29
Median Age
74%
College-Educated
98%
High-School Grad
4.0 sq mi
ZIP Area
9,082
Density / Sq Mi
$76,206
Median Household Income
$40,214
Median Earnings
$1,225
Median Rent
$413,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-story 44-unit apartment building with ground-floor retail, renovated in 2009 and 2019, and multiple tenants in place.
Where is this apartment building located?
The property is located at 3575 N Oakland Ave Shorewood, WI.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: Five‑story, 44‑unit apartment building built in 1962, renovated in 2009 and 2019; Residential mix: 43 two‑bedroom units and 1 one‑bedroom unit (2BR: 20 one bath, 19 1.5 baths, 4 two baths); Ground‑floor retail totals 7,344 SF and is leased to McCade Insurance Agency, Exercise Coach, Tenderness Health Care, and Beu Face & Body Lounge
