Building Details

Year built 1943

Listing Agency: NextHome Select Realty Show Phone

Listed By: Todd Langer · License #90-58583,PersonLicenseNumber Show Phone

Added: Oct 1 Last Checked: Oct 7 at 2:06AM

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MLS# 147893

Copyright © 2026 NextHome, Inc. 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 3,867-square-foot mixed-use building, constructed in 1943, combines a sizable commercial area at street level with two separate residential units upstairs. The 0.2-acre property also includes a detached two-car garage and two restored accessory buildings: one arranged as a bedroom with a bathroom, the other fitted out as a bar. Outdoor areas feature patios, a deck, balcony, hardscaping and established plantings.

Located in downtown Kewaunee, the property has views of Lake Michigan and sits near the waterfront. Improvements include a metal roof installed in 2021, boilers replaced in 2020, water heaters added in 2025 and a water softener installed in 2026.

Key Highlights

• 3,867‑square‑foot mixed‑use property on a 0.2‑acre lot
• Street‑level commercial area with two separate upper residential units
• Detached two‑car garage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,454

Cap Rate

7.32%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$629,080 $629.1K

Cap Rate 7%

$449,343 $449.3K

Cap Rate 9%

$349,489 $349.5K

Market Conditions

NOI Build-Up for 3,867 SF

Gross rent

$60.3K $15.60/SF

− Vacancy

−$3.1K −$0.81/SF

EGI

$57.2K $14.79/SF

− OpEx

−$25.7K −$6.65/SF

NOI

$31.5K $8.13/SF

Area

Kewaunee County, WI

Vacancy

5.20%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$629,080

Cap Rate 7%

$449,343

Cap Rate 9%

$349,489

Alternative Uses

Best Use

Retail

$610.7K

$534.3K – $712.5K (±1% cap)

NOI $42,747 @ 7.0% cap · market cap 9.94%

Second Best

Mixed Use

$571.8K

$500.3K – $667.1K (±1% cap)

NOI $40,023 @ 7.0% cap · market cap 9.31%

Theoretical Best

Office A

$901.6K

$788.9K – $1.05M (±1% cap)

NOI $63,109 @ 7.0% cap · market cap 14.68%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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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?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - A commercial ground floor is complemented by two distinct residential units above.

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 $429,900.

What are key features of this property?

This property features: 3,867‑square‑foot mixed‑use property on a 0.2‑acre lot; Street‑level commercial area with two separate upper residential units; Detached two‑car garage