Historic Terracotta Mixed-Use
For Sale
$2,095,000
5611 6th AVENUE, Kenosha, WI 53140
Three-story commercial building with leased street-level businesses, loft-style upper floors, and modernized building systems.
Property Size11,613 SF
Price / SF$180.40
Days on Market160
Property Features for 5611 6th AVENUE
General Information
Standard status
Active
Size
11,613 SF
Property subtype
General Commercial
Site & Location
Corner Location
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Patio
Yes
Taxes and HOA fees
Annual Taxes
$7,173
Amenities
outdoor patio seating
Carpet
Tar Gravel
Commercial
18 Parking Spaces.
0.0 to .499
Building Details
Year Built
1880
Buildings
1
Stories
3
Construction
terracotta
Tenancy
Multi
Listing Agency:
Standard Real Estate Services, LLC
(414) 817-4250
Listed By:
Christopher Michala · License #9039894
(414) 817-4250
Source:
Xome
Added: Mar 26
Changed: Aug 31
Last Checked: Aug 31 at 2:59PM
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 Standard Real Estate Services, LLC
Investment Insights
Based on property information with market context.
Located at 5611 6th Avenue in Kenosha, this 11,613 SF, three-story commercial property combines historic character with updated infrastructure. Constructed in 1880, the white terracotta building retains original architectural elements while incorporating refreshed electrical, plumbing, HVAC, and roofing systems. The first floor contains two fully leased commercial spaces: a restaurant with patio seating and an independent boutique.
The second and third floors provide open loft layouts with high ceilings and additional original details. The property sits on the vintage streetcar line near downtown Kenosha’s waterfront setting, including Lake Michigan harbors and beaches. Exterior information includes 18 parking spaces and a tar-and-gravel roof. The building presents a combination of occupied ground-floor retail activity and upper-level loft space within a historic commercial structure.
The second and third floors provide open loft layouts with high ceilings and additional original details. The property sits on the vintage streetcar line near downtown Kenosha’s waterfront setting, including Lake Michigan harbors and beaches. Exterior information includes 18 parking spaces and a tar-and-gravel roof. The building presents a combination of occupied ground-floor retail activity and upper-level loft space within a historic commercial structure.
Key Highlights
- 11,613 SF, three‑story mixed‑use commercial property
- White terracotta construction dating to 1880
- Two fully leased first‑floor commercial units
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
$147,683
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
7.05%
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%
$2,953,660
$3.0M
Cap Rate 7%
$2,109,757
$2.1M
Cap Rate 9%
$1,640,922
$1.6M
Market Conditions
NOI Build-Up for 11,613 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
$209.0K $18.00/SF
− Vacancy
−$12.1K −$1.04/SF
EGI
$196.9K $16.96/SF
− OpEx
−$49.2K −$4.24/SF
NOI
$147.7K $12.72/SF
Area
Kenosha County, WI
Vacancy
5.80%
Lease Rate
$18.00 /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%
$2,953,660
Cap Rate 7%
$2,109,757
Cap Rate 9%
$1,640,922
Alternative Uses
Best Use
Specialty Retail
$2.11M
$1.85M – $2.46M
NOI $147,683 @ 7.0% cap · market cap 7.05%
Second Best
Mixed Use
$2.06M
$1.80M – $2.40M
NOI $144,233 @ 7.0% cap · market cap 6.88%
Theoretical Best
Warehouse
$13.52M
$11.83M – $15.77M
NOI $946,413 @ 7.0% cap · market cap 45.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,451
Businesses Nearby
24k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 75%
Shops & Services 25%
Wendy's
Dining
13,679 visits/mo
0.3 miles
Shell
Shops & Services
4,908 visits/mo
0.3 miles
SUBWAY
Dining
4,041 visits/mo
0.1 miles
BMO Harris Bank
Shops & Services
958 visits/mo
0.2 miles
Demographics for 53140, WI
30,571
Population
14,065
Households
2.2
Avg Household Size
36
Median Age
28%
College-Educated
90%
High-School Grad
7.9 sq mi
ZIP Area
3,870
Density / Sq Mi
$56,803
Median Household Income
$34,154
Median Earnings
$1,018
Median Rent
$191,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story commercial building with leased street-level businesses, loft-style upper floors, and modernized building systems.
Where is this mixed-use property located?
The property is located at 5611 6th AVENUE Kenosha, WI.
What is the asking price?
The asking price for this property is $2,095,000.
What are key features of this property?
This property features: 11,613 SF, three‑story mixed‑use commercial property; White terracotta construction dating to 1880; Two fully leased first‑floor commercial units
