5-Bay Auto Repair
New
For Sale
Contact for pricing
3913-3915 N Palmer Street, Milwaukee, WI 53212
Masonry automotive facility with a spray booth, frame rack, and bright interior workspace.
Property Size4,965 SF
Lot Size0.16 Acres
Price / SF$78.49
Days on Market5
Property Features for 3913-3915 N Palmer Street
General Information
Standard status
Active
Size
4,965 SF
Lot size
0.16 Acres
Property subtype
Industrial
Additional Details
Service Bays
5
Building Details
Buildings
1
Construction
masonry
Listing Agency:
Transwestern Milwaukee
Listed By:
Daniel Walsh · License #WI 58230
(414) 270-4112
Source:
Crexi
Added: Sep 12
Changed: Sep 16
Last Checked: Sep 16 at 2:49PM
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 Transwestern Milwaukee
Investment Insights
Based on property information with market context.
This masonry automotive repair property provides 4,965 square feet within a 7,139-square-foot lot, with five service bays arranged in a brightly lit shop. The facility includes a spray booth and frame straightening rack, supporting body repair and related automotive service operations.
Located at 3913-3915 N Palmer Street in Milwaukee, the property sits less than 200 feet from East Capitol Drive and is positioned within a trade area serving the Milwaukee market. The existing configuration offers a dedicated setting for automotive repair use, with the core equipment features already in place.
Located at 3913-3915 N Palmer Street in Milwaukee, the property sits less than 200 feet from East Capitol Drive and is positioned within a trade area serving the Milwaukee market. The existing configuration offers a dedicated setting for automotive repair use, with the core equipment features already in place.
Key Highlights
- Five service bays in a brightly lit automotive shop
- 4,965‑square‑foot masonry building
- Spray booth 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
$18,079
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
4.64%
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%
$361,580
$361.6K
Cap Rate 7%
$258,271
$258.3K
Cap Rate 9%
$200,878
$200.9K
Market Conditions
NOI Build-Up for 4,965 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
$27.2K $5.47/SF
− Vacancy
−$1.3K −$0.27/SF
EGI
$25.8K $5.20/SF
− OpEx
−$7.7K −$1.56/SF
NOI
$18.1K $3.64/SF
Area
Milwaukee, WI
Vacancy
4.90%
Lease Rate
$5.47 /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%
$361,580
Cap Rate 7%
$258,271
Cap Rate 9%
$200,878
Alternative Uses
Best Use
Retail
$744.0K
$651.0K – $868.0K
NOI $52,080 @ 7.0% cap · market cap 13.36%
Second Best
Industrial
$258.3K
$226.0K – $301.3K
NOI $18,079 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,519 @ 7.0% cap · market cap 21.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Service bays
Location Intelligence
Trade Area within ½ mile
776
Businesses Nearby
Well-served
Demand for This Use
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 Retail in Milwaukee, WI
Questions? Ask Rey
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Similar Off Market Nearby
- D & E Auto Repair — 245 E Keefe Ave, Milwaukee, WI 53212
- Mechanic Joey’s Garage-Auto Repair — 229 E Keefe Ave, Milwaukee, WI 53212
- A.B. Steel Auto Service — 3475 N Holton St, Milwaukee, WI 53212
- Downtown Auto Body Services — 3425 N Holton St, Milwaukee, WI 53212
- Riverwest automotive — 801 E Keefe Ave, Milwaukee, WI 53212
Frequently Asked Questions
What type of property is this?
Auto shop - Masonry automotive facility with a spray booth, frame rack, and bright interior workspace.
Where is this auto shop located?
The property is located at 3913-3915 N Palmer Street Milwaukee, WI.
What is the asking price?
The asking price for this property is $389,700.
What are key features of this property?
This property features: Five service bays in a brightly lit automotive shop; 4,965‑square‑foot masonry building; Spray booth included
