Versatile Modern Building with Expansion
For Sale
Contact for pricing
5400 N 118th Ct, Milwaukee, WI 53225
Modern, flexible building suitable for retail, office, or flex uses.
Property Size10,930 SF
Lot Size2.00 Acres
Price / SF$141.35
Days on Market192
Property Features for 5400 N 118th Ct
General Information
Standard status
Active
Size
10,930 SF
Total Parking Spaces
40
Lot size
2.00 Acres
Property subtype
Retail, Office, Industrial
Zoning
CS: Commercial Service
Building Details
Year Built
2006
Year Renovated
2024
Stories
1
Tenancy
Single
Listing Agency:
Transwestern Milwaukee
(414) 270-4112
Listed By:
Daniel Walsh · License #WI 58230
Source:
Crexi
Added: Feb 11
Changed: Aug 14
Last Checked: Aug 22 at 10:08AM
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 Transwestern Milwaukee
Investment Insights
Based on property information with market context.
Built in 2006, this modern building offers versatile space suitable for destination retail and service uses, spa, med-tail, healthcare, high profile office, and flex or specialty users. The single-level space was renovated in 2024 and features a 2-story atrium entry lobby, high ceilings, an open floor plan, ample window lines, and grade-level overhead doors. The property is set on a 2-acre site and was designed to be expanded to both the north and south, potentially doubling the size to over 20,000 square feet. The property could also accommodate multiple tenants in its current configuration. The plan includes a nearly 2,000 square foot gallery and salon connected by glass overhead doors to a 30 by 40 foot exhibition space, which can be adapted to various uses as part of the whole space or leased separately. Located at the intersection of Interstate 41 and Silver Spring Drive, the property is visible from I-41. The location is convenient for employees and customers and cost-efficient for service or distribution, with exposure that makes the property well-suited for introducing a new business to the Milwaukee market or growing an existing customer base. The property contains 10,930 square feet.
Key Highlights
- High‑visibility location at the intersection of Interstate 41 and Silver Spring Dr./CTH E with substantial daily traffic.
- Versatile modern building suitable for various uses including retail, office, healthcare, and flex space.
- Recently renovated (2024) single‑level space with a 2‑story atrium entry lobby, high ceilings, and ample window lines.
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
$133,455
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
8.64%
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%
$2,669,100
$2.7M
Cap Rate 7%
$1,906,500
$1.9M
Cap Rate 9%
$1,482,833
$1.5M
Market Conditions
NOI Build-Up for 10,930 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
$242.6K $22.20/SF
− Vacancy
−$29.1K −$2.66/SF
EGI
$213.5K $19.54/SF
− OpEx
−$80.1K −$7.33/SF
NOI
$133.5K $12.21/SF
Area
Milwaukee, WI
Vacancy
12.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
37.50%
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%
$2,669,100
Cap Rate 7%
$1,906,500
Cap Rate 9%
$1,482,833
Alternative Uses
Best Use
Mixed Use
$1.91M
$1.67M – $2.22M
NOI $133,455 @ 7.0% cap · market cap 8.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.63M
$2.30M – $3.06M
NOI $183,860 @ 7.0% cap · market cap 11.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
487
Businesses Nearby
Explore this area
Business Placement
Demographics for 53225, WI
25,138
Population
11,019
Households
2.3
Avg Household Size
33
Median Age
22%
College-Educated
91%
High-School Grad
7.0 sq mi
ZIP Area
3,591
Density / Sq Mi
$54,433
Median Household Income
$40,463
Median Earnings
$1,094
Median Rent
$174,500
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Modern, flexible building suitable for retail, office, or flex uses.
Where is this mixed-use property located?
The property is located at 5400 N 118th Ct Milwaukee, WI.
What is the asking price?
The asking price for this property is $1,545,000.
What are key features of this property?
This property features: High‑visibility location at the intersection of Interstate 41 and Silver Spring Dr./CTH E with substantial daily traffic.; Versatile modern building suitable for various uses including retail, office, healthcare, and flex space.; Recently renovated (2024) single‑level space with a 2‑story atrium entry lobby, high ceilings, and ample window lines.
