Historic Office
511 N Grand Ave, Waukesha, WI 53186
For Sale
New
$379,900
N, Waukesha, WI
Property Size2,000 SF
Lot Size0.11 Acres
Price / SF$189.95
Days on Market2
Property Features for 511 N Grand Ave
General Information
Property type
Property subtype
Zoning
Standard status
APN
Size
Lot size
Additional Details
Currently Operating
Property Use
Taxes and HOA fees
Tax Year
Building Details
Year built
Architectural style
Buildings
Listing Agency:
REMAX Market Place · RE/MAX International
(414) 439-3696
Listed By:
Ginger Gill · License WI 51852-90
(414) 303-6761
Added: Nov 10
Last Checked: Nov 11 at 7:06AM
MLS# 1987963
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.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1890, this 2,000-square-foot office property occupies a 0.11-acre parcel. The building was originally constructed as a carriage house and is currently used by a nonprofit. Multiple office areas provide the existing interior configuration, while the upper level could accommodate an apartment or additional workspace.
The property is on a main street and includes parking. Its B3 zoning and established office layout are additional defining features.
The property is on a main street and includes parking. Its B3 zoning and established office layout are additional defining features.
Key Highlights
- 2,000‑square‑foot building on a 0.11‑acre parcel
- Built in 1890 as a carriage house
- Multiple office areas; currently used by a nonprofit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,766
Cap Rate
7.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$555,320
$555.3K
Cap Rate 7%
$396,657
$396.7K
Cap Rate 9%
$308,511
$308.5K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$49.7K $24.84/SF
− Vacancy
−$12.7K −$6.33/SF
EGI
$37.0K $18.51/SF
− OpEx
−$9.3K −$4.63/SF
NOI
$27.8K $13.88/SF
Area
Waukesha County, WI
Vacancy
25.48%
Lease Rate
$24.84 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$555,320
Cap Rate 7%
$396,657
Cap Rate 9%
$308,511
Alternative Uses
Best Use
Office B
$396.7K
$347.1K – $462.8K
NOI $27,766 @ 7.0% cap · market cap 7.31%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$1.02M
$893.2K – $1.19M
NOI $71,452 @ 7.0% cap · market cap 18.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,861
Businesses Nearby
Explore this area
Business Placement
Demographics for 53186, WI
32,332
Population
15,066
Households
2.1
Avg Household Size
38
Median Age
39%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
2,566
Density / Sq Mi
$74,596
Median Household Income
$42,007
Median Earnings
$1,180
Median Rent
$277,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Office buildings in Waukesha County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - B3-zoned property contains several office areas, with the upper floor offering potential for an apartment or additional workspace.
Where is this office building located?
The property is located at 511 N Grand Ave Waukesha, WI.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: 2,000‑square‑foot building on a 0.11‑acre parcel; Built in 1890 as a carriage house; Multiple office areas; currently used by a nonprofit
