Restaurant Property with Existing
New
For Sale
$400,000
4519 W Center St #4521, Milwaukee, WI 53210
Existing restaurant operations serve surrounding Milwaukee neighborhoods from this commercial property.
Property Size1,919 SF
Price / SF$208.44
Days on Market2
Property Features for 4519 W Center St #4521
General Information
Standard status
Active
Size
1,919 SF
Property subtype
Commercial
Building Details
Year Built
1925
Listing Agency:
808 Realty LLC
(414) 839-5203
Listed By:
Frederick Kyles · License #42545
Source:
Milwaukeeforeverhome
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 9:23AM
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 808 Realty LLC
Investment Insights
Based on property information with market context.
This commercial property is currently occupied by Jackson's Soul Food Redefined and is configured for restaurant use. The building dates to 1925 and offers 1,919 square feet of commercial space at 4519 W Center St #4521.
Located in an established Milwaukee neighborhood, the property provides access to surrounding neighborhoods and major Milwaukee thoroughfares. The sale includes the real estate, while buyers are responsible for verifying permitted uses and zoning. The existing restaurant setting may suit an owner-user, investor, restaurant operator, or entrepreneur seeking a commercial location.
Located in an established Milwaukee neighborhood, the property provides access to surrounding neighborhoods and major Milwaukee thoroughfares. The sale includes the real estate, while buyers are responsible for verifying permitted uses and zoning. The existing restaurant setting may suit an owner-user, investor, restaurant operator, or entrepreneur seeking a commercial location.
Key Highlights
- Current home of Jackson's Soul Food Redefined
- 1,919 square feet of commercial space
- 1925 construction
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
$23,540
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
5.89%
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%
$470,800
$470.8K
Cap Rate 7%
$336,286
$336.3K
Cap Rate 9%
$261,556
$261.6K
Market Conditions
NOI Build-Up for 1,919 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
$33.4K $17.40/SF
− Vacancy
−$2.0K −$1.04/SF
EGI
$31.4K $16.36/SF
− OpEx
−$7.8K −$4.09/SF
NOI
$23.5K $12.27/SF
Area
Milwaukee, WI
Vacancy
6.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
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%
$470,800
Cap Rate 7%
$336,286
Cap Rate 9%
$261,556
Alternative Uses
Best Use
Specialty Retail
$336.3K
$294.3K – $392.3K
NOI $23,540 @ 7.0% cap · market cap 5.89%
Second Best
Industrial
$99.8K
$87.4K – $116.5K
NOI $6,988 @ 7.0% cap · market cap 1.75%
Theoretical Best
Office A
$461.2K
$403.5K – $538.0K
NOI $32,281 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,079
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53210, WI
25,588
Population
11,005
Households
2.3
Avg Household Size
32
Median Age
23%
College-Educated
87%
High-School Grad
2.6 sq mi
ZIP Area
9,842
Density / Sq Mi
$45,268
Median Household Income
$35,797
Median Earnings
$1,044
Median Rent
$153,400
Median Home Value
Market
Vacancy Rate% for Retail in Milwaukee, WI
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing restaurant operations serve surrounding Milwaukee neighborhoods from this commercial property.
Where is this conventional restaurant located?
The property is located at 4519 W Center St #4521 Milwaukee, WI.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Current home of Jackson's Soul Food Redefined; 1,919 square feet of commercial space; 1925 construction
