Flex Property with Fenced
For Sale
$750,000
4220 N Teutonia AVENUE, Milwaukee, WI 53209
LB2 zoning, three-phase power, offices, bathrooms, and on-site parking support varied commercial operations.
Property Size13,115 SF
Price / SF$57.19
Days on Market579
Property Features for 4220 N Teutonia AVENUE
General Information
Standard status
Active
Size
13,115 SF
Property subtype
General Commercial
Zoning
LB2
Site & Location
Fenced Yard
Yes
Utilities to Site
Yes
Additional Details
Three-Phase Power
Yes
Taxes and HOA fees
Annual Taxes
$3,783
Amenities
3-phase power
front office area
full bath on main level
full basement
additional bathroom
3
LB2 Commercial
20 Parking Spaces.
0.5 to .99
Building Details
Year Built
1951
Buildings
1
Listing Agency:
The Kramer Group LLC
(262) 330-3939
Listed By:
Michael Kramer
(262) 330-3939
Source:
Xome
Added: Jan 28, 2025
Changed: Aug 29
Last Checked: Aug 29 at 9:13PM
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 Kramer Group LLC
Investment Insights
Based on property information with market context.
This flex property at 4220 N Teutonia Avenue in Milwaukee provides 9,600 SF of main-level space along with 6,000 Sq. Ft of basement storage. The layout includes a front office area, a full bathroom on the main level, and an additional bathroom in the basement. Three-phase power, a fenced yard, and on-site parking add practical features for commercial operations. Built in 1951, the property carries LB2 Commercial zoning. The site includes 20 parking spaces and a lot size reported at 0.5 to .99. The adjacent building at 4228 N Teutonia Avenue may also be purchased under a separate MLS listing.
Key Highlights
- 9,600 SF of main‑level space plus 6,000 Sq. Ft of basement storage
- LB2 Commercial zoning
- Three‑phase power service
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
$58,520
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
7.80%
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%
$1,170,400
$1.2M
Cap Rate 7%
$836,000
$836.0K
Cap Rate 9%
$650,222
$650.2K
Market Conditions
NOI Build-Up for 13,115 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
$72.4K $5.52/SF
− Vacancy
−$3.5K −$0.27/SF
EGI
$68.8K $5.25/SF
− OpEx
−$10.3K −$0.79/SF
NOI
$58.5K $4.46/SF
Area
ZIP 53209
Vacancy
4.90%
Lease Rate
$5.52 /SF/Yr
Expense Ratio
15.00%
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%
$1,170,400
Cap Rate 7%
$836,000
Cap Rate 9%
$650,222
Alternative Uses
Best Use
Retail
$2.08M
$1.82M – $2.42M
NOI $145,364 @ 7.0% cap · market cap 19.38%
Second Best
Flex RnD
$1.79M
$1.56M – $2.08M
NOI $125,007 @ 7.0% cap · market cap 16.67%
Theoretical Best
Office A
$3.15M
$2.76M – $3.68M
NOI $220,615 @ 7.0% cap · market cap 29.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
453
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53209, WI
44,586
Population
21,466
Households
2.1
Avg Household Size
37
Median Age
25%
College-Educated
89%
High-School Grad
10.9 sq mi
ZIP Area
4,090
Density / Sq Mi
$45,288
Median Household Income
$33,854
Median Earnings
$980
Median Rent
$150,200
Median Home Value
Market
Vacancy Rate% for Industrial in Milwaukee, WI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - LB2 zoning, three-phase power, offices, bathrooms, and on-site parking support varied commercial operations.
Where is this flex space located?
The property is located at 4220 N Teutonia AVENUE Milwaukee, WI.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 9,600 SF of main‑level space plus 6,000 Sq. Ft of basement storage; LB2 Commercial zoning; Three‑phase power service
