Renovated Multi-Storefront
For Sale
$1,299,000
5711 6th Ave, Kenosha, WI 53140
Three street-level suites feature individual entrances, tall ceilings, updated interiors, and separate utilities in downtown Kenosha.
Property Size8,182 SF
Price / SF$158.76
Days on Market13
Property Features for 5711 6th Ave
General Information
Standard status
Active
Size
8,182 SF
Occupancy
100%
Amenities
soaring 15-ft ceilings
brand-new glass storefront systems w/ individual entrances
modern mechanicals
refreshed interiors
unisex restrooms
New 2023 PVC roof
New HVAC (center space, 2024) + rooftop HVAC systems
updated lighting
separate utilities
new fiber optic service
Building Details
Year Built
1962
Year Renovated
2024
Buildings
1
Tenancy
Multi
Listing Agency:
Standard Real Estate Services, LLC
(414) 817-4250
Listed By:
Christopher Michala · License #9039894
Source:
Jwregwi
Added: Aug 18
Changed: Aug 29
Last Checked: Aug 29 at 2:32PM
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.
This renovated storefront property is fully occupied and organized around three street-level commercial suites, each approximately 2,700 SF. The spaces include 15-ft ceilings, new glass storefront systems with separate entrances, refreshed interiors, modern mechanical systems, unisex restrooms, and individual utilities. A fully leased lower level adds 8,152 SF of commercial space. Recent improvements include a PVC roof installed in 2023, a new HVAC system serving the center suite in 2024, rooftop HVAC equipment, updated lighting, and new fiber optic service.
The property is located along 6th Ave in Kenosha’s downtown and lakefront district, near the Lake Michigan shoreline, harbor, and marina. The surrounding area includes museums, restaurants, shops, and cultural attractions, with access to a streetcar stop and Metra service to Chicago.
The property is located along 6th Ave in Kenosha’s downtown and lakefront district, near the Lake Michigan shoreline, harbor, and marina. The surrounding area includes museums, restaurants, shops, and cultural attractions, with access to a streetcar stop and Metra service to Chicago.
Key Highlights
- Three street‑level storefronts, each approximately 2,700 SF
- 15‑ft ceilings with new glass storefront systems and individual entrances
- Fully leased lower level totaling 8,152 SF
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
$97,114
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
7.48%
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%
$1,942,280
$1.9M
Cap Rate 7%
$1,387,343
$1.4M
Cap Rate 9%
$1,079,044
$1.1M
Market Conditions
NOI Build-Up for 8,182 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
$147.3K $18.00/SF
− Vacancy
−$8.5K −$1.04/SF
EGI
$138.7K $16.96/SF
− OpEx
−$41.6K −$5.09/SF
NOI
$97.1K $11.87/SF
Area
Kenosha County, WI
Vacancy
5.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,942,280
Cap Rate 7%
$1,387,343
Cap Rate 9%
$1,079,044
Alternative Uses
Best Use
Retail
$1.39M
$1.21M – $1.62M
NOI $97,114 @ 7.0% cap · market cap 7.48%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$9.53M
$8.34M – $11.11M
NOI $666,800 @ 7.0% cap · market cap 51.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,451
Businesses Nearby
24k
Monthly Visits Nearby
Under-served
Demand for This Use
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?
Storefront property - Three street-level suites feature individual entrances, tall ceilings, updated interiors, and separate utilities in downtown Kenosha.
Where is this storefront property located?
The property is located at 5711 6th Ave Kenosha, WI.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Three street‑level storefronts, each approximately 2,700 SF; 15‑ft ceilings with new glass storefront systems and individual entrances; Fully leased lower level totaling 8,152 SF
