Building Details

Year Built 1943

Buildings 4

Listing Agency: Renard Realty

Listed By: Shane Renard - Principal Broker Owner · License #9057962 Show Phone

Source: Renardrealtygroup

Added: Oct 2 Changed: Oct 7 Last Checked: Oct 5 at 6:03PM

Report an Issue

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 Renard Realty

Investment Insights

Based on property information with market context.

Located at 517 Milwaukee St in downtown Kewaunee, this mixed-use property combines more than 1,800 square feet of commercial space on the main floor with two separate residential units above. The site also includes two restored outbuildings: one configured as a bedroom with a half bath, and another finished as a bar. A detached two-car garage is also on the property.

The outdoor areas include patios, a deck, a balcony, hardscaping and established landscaping. The property has views of Lake Michigan. Improvements include a metal roof installed in 2021, boilers from 2020, water heaters installed in 2025 and a water softener installed in 2026.

Key Highlights

• More than 1,800 square feet of main‑level commercial space
• Two separate upper‑level residential units
• Two restored outbuildings, including a bedroom with half bath and a bar

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,706

Cap Rate

5.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$454,120 $454.1K

Cap Rate 7%

$324,371 $324.4K

Cap Rate 9%

$252,289 $252.3K

Market Conditions

NOI Build-Up for 2,054 SF

Gross rent

$34.5K $16.80/SF

− Vacancy

−$2.1K −$1.01/SF

EGI

$32.4K $15.79/SF

− OpEx

−$9.7K −$4.74/SF

NOI

$22.7K $11.05/SF

Area

Kewaunee County, WI

Vacancy

6.00%

Lease Rate

$16.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$454,120

Cap Rate 7%

$324,371

Cap Rate 9%

$252,289

Alternative Uses

Best Use

Retail

$324.4K

$283.8K – $378.4K (±1% cap)

NOI $22,706 @ 7.0% cap · market cap 5.29%

Second Best

Mixed Use

$303.7K

$265.7K – $354.3K (±1% cap)

NOI $21,259 @ 7.0% cap · market cap 4.96%

Theoretical Best

Office A

$478.9K

$419.0K – $558.7K (±1% cap)

NOI $33,521 @ 7.0% cap · market cap 7.81%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Parking Lot & Garage Real Estate Agency Law Firm Hair Salon Grocery & Convenience Store Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

236

Businesses Nearby

773

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Carquest Auto Parts # 5590 Shops & Services

773 visits/mo 0.0 miles

Demographics for 54216, WI

6,164

Population

3,030

Households

2

Avg Household Size

45

Median Age

17%

College-Educated

93%

High-School Grad

107.3 sq mi

ZIP Area

57

Density / Sq Mi

$81,650

Median Household Income

$45,552

Median Earnings

$776

Median Rent

$173,300

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Mixed-Use Building with Restaurant

301 Ellis St, Kewaunee, WI 54216

$289,000

4,645 SF

View details

Gas Station with RV Sites

202 Milwaukee St, Kewaunee, WI 54216

$1,600,000

2,106 SF

View details

Frequently Asked Questions

What type of property is this?

Mixed-use property - The property pairs ground-floor commercial space with two separate upper-level residential units.

Where is this mixed-use property located?

The property is located at 517 Milwaukee St Kewaunee, WI.

What is the asking price?

The asking price for this property is $429,000.

What are key features of this property?

This property features: More than 1,800 square feet of main‑level commercial space; Two separate upper‑level residential units; Two restored outbuildings, including a bedroom with half bath and a bar