High-Visibility Retail-Residential
For Sale
$389,000
4763 N 124th St, Butler, WI 53007
COMMERCIAL - Butler, WI
Property Size2,450 SF
Price / SF$158.78
Days on Market49
Property Features for 4763 N 124th St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
com
Directions
from Hampton, South on 124th st to Property
Standard status
Active
APN
BV1009034
Size
2,450 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3736
Building Details
Year built
1912
Architectural style
Other
Listing Agency:
HomeWire Realty
(414) 982-4005
Listed By:
Jeffrey Munson · License #5815794
(262) 993-5825
Added: Jun 25
Changed: Aug 4
Last Checked: Aug 12 at 2:06AM
MLS# 1969004
Copyright © 2026 Metro MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This high-visibility building has been used as a hair salon, retail sales, and an office. The first floor includes a bedroom, while the upstairs offers a 900+ square foot rental with an open floorplan and in-unit laundry. Recent improvements include a new boiler and upgraded electrical.
Located in the Village of Butler on N 124th St, the property provides rear lot parking for four vehicles. A separate measurement of the building size is not verified by the broker or agent, so prospective buyers should confirm square footage and rely on their own measurements.
The layout supports tenants or owners seeking a combination of storefront-type space and an apartment rental. Zoning is listed as COM, and buyers should complete due diligence regarding permitted uses for the building under local zoning rules. The property is also listed as a two-family on MLS #1969004, and offers an opportunity to evaluate both residential and commercial configurations as part of the buyer’s own underwriting.
Located in the Village of Butler on N 124th St, the property provides rear lot parking for four vehicles. A separate measurement of the building size is not verified by the broker or agent, so prospective buyers should confirm square footage and rely on their own measurements.
The layout supports tenants or owners seeking a combination of storefront-type space and an apartment rental. Zoning is listed as COM, and buyers should complete due diligence regarding permitted uses for the building under local zoning rules. The property is also listed as a two-family on MLS #1969004, and offers an opportunity to evaluate both residential and commercial configurations as part of the buyer’s own underwriting.
Key Highlights
- Built in 1912 building in the Village of Butler with potential for multiple uses (previously hair salon, retail, or office)
- High visibility on 124th St plus four‑vehicle+ parking in the rear lot
- First floor includes 1 bedroom
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
$34,718
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
8.92%
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%
$694,360
$694.4K
Cap Rate 7%
$495,971
$496.0K
Cap Rate 9%
$385,756
$385.8K
Market Conditions
NOI Build-Up for 2,450 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
$51.5K $21.00/SF
− Vacancy
−$1.9K −$0.76/SF
EGI
$49.6K $20.24/SF
− OpEx
−$14.9K −$6.07/SF
NOI
$34.7K $14.17/SF
Area
Waukesha County, WI
Vacancy
3.60%
Lease Rate
$21.00 /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%
$694,360
Cap Rate 7%
$495,971
Cap Rate 9%
$385,756
Alternative Uses
Best Use
Retail
$496.0K
$434.0K – $578.6K
NOI $34,718 @ 7.0% cap · market cap 8.92%
Second Best
Multifamily LT 5
$401.5K
$351.3K – $468.4K
NOI $28,105 @ 7.0% cap · market cap 7.22%
Theoretical Best
Flex RnD
$1.25M
$1.09M – $1.46M
NOI $87,529 @ 7.0% cap · market cap 22.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Explore this area
Business Placement
Demographics for 53007, WI
1,787
Population
907
Households
2
Avg Household Size
42
Median Age
30%
College-Educated
93%
High-School Grad
0.8 sq mi
ZIP Area
2,234
Density / Sq Mi
$55,577
Median Household Income
$41,250
Median Earnings
$937
Median Rent
$216,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Retail and residential space with updated systems and four-vehicle rear parking, offering flexible use options under COM zoning.
Where is this duplex located?
The property is located at 4763 N 124th St Butler, WI.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Built in 1912 building in the Village of Butler with potential for multiple uses (previously hair salon, retail, or office); High visibility on 124th St plus four‑vehicle+ parking in the rear lot; First floor includes 1 bedroom
