Renovated Mixed-Use
For Sale
$575,000
5520 W Vliet STREET Unit 5518, Milwaukee, WI 53208
Updated tavern space with an upstairs three-bedroom apartment, outdoor patio, and dedicated parking.
Property Size2,544 SF
Price / SF$226.02
Days on Market153
Property Features for 5520 W Vliet STREET Unit 5518
General Information
Standard status
Active
Size
2,544 SF
Property subtype
General Commercial
Financials
Average Monthly Rent
$1,800
Business Included
Yes
Units
Unit Mix
1 x 3BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$5,143
Amenities
outdoor patio area
3
LB-2 - Mix
13 Parking Spaces.
0.0 to .499
Building Details
Year Built
1906
Listing Agency:
(262) 227-6888
Listed By:
Abundance Real Estate
(262) 227-6888
Source:
Xome
Added: Mar 31
Changed: Aug 29
Last Checked: Aug 29 at 9:16PM
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 Abundance Real Estate
Investment Insights
Based on property information with market context.
This 2,544-square-foot mixed-use property combines a tavern on the first floor with a three-bedroom apartment above. The building was constructed in 1906 and has been updated with new siding, new windows, a completed first-floor buildout, and new bar fixtures. The interior incorporates contemporary improvements alongside original vintage character.
Outdoor features include a patio and a large parking lot with 13 parking spaces. The property is designated LB-2 - Mix and is located at 5520 W Vliet STREET Unit 5518 in Milwaukee, Wisconsin.
Outdoor features include a patio and a large parking lot with 13 parking spaces. The property is designated LB-2 - Mix and is located at 5520 W Vliet STREET Unit 5518 in Milwaukee, Wisconsin.
Key Highlights
- 2,544 SF mixed‑use property with tavern and three‑bedroom apartment
- 1906 building updated with new siding and windows
- Completed first‑floor buildout with new bar fixtures
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
$31,207
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
5.43%
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%
$624,140
$624.1K
Cap Rate 7%
$445,814
$445.8K
Cap Rate 9%
$346,744
$346.7K
Market Conditions
NOI Build-Up for 2,544 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
$44.3K $17.40/SF
− Vacancy
−$2.7K −$1.04/SF
EGI
$41.6K $16.36/SF
− OpEx
−$10.4K −$4.09/SF
NOI
$31.2K $12.27/SF
Area
Milwaukee, WI
Vacancy
6.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
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%
$624,140
Cap Rate 7%
$445,814
Cap Rate 9%
$346,744
Alternative Uses
Best Use
Specialty Retail
$445.8K
$390.1K – $520.1K
NOI $31,207 @ 7.0% cap · market cap 5.43%
Second Best
Mixed Use
$443.7K
$388.3K – $517.7K
NOI $31,062 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$611.3K
$534.9K – $713.2K
NOI $42,794 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
550
Businesses Nearby
Explore this area
Business Placement
Demographics for 53208, WI
29,644
Population
13,778
Households
2.2
Avg Household Size
33
Median Age
31%
College-Educated
89%
High-School Grad
4.2 sq mi
ZIP Area
7,058
Density / Sq Mi
$50,585
Median Household Income
$40,729
Median Earnings
$924
Median Rent
$196,300
Median Home Value
Market
Vacancy Rate% for Retail in Milwaukee, WI
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 - Updated tavern space with an upstairs three-bedroom apartment, outdoor patio, and dedicated parking.
Where is this mixed-use property located?
The property is located at 5520 W Vliet STREET Unit 5518 Milwaukee, WI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 2,544 SF mixed‑use property with tavern and three‑bedroom apartment; 1906 building updated with new siding and windows; Completed first‑floor buildout with new bar fixtures
