Renovated Restaurant and Retail
For Sale
$975,000
5900 W North Ave, Milwaukee, WI 53208
Extensively renovated restaurant and retail venue in desirable location.
Property Size8,278 SF
Price / SF$117.78
Days on Market219
Property Features for 5900 W North Ave
General Information
Standard status
Active
Size
8,278 SF
Property subtype
Retail
Site & Location
Neighborhood
Uptown
Listed By:
Brian Vanevenhoven
(262) 893-5786
Source:
Nmrk
Added: Mar 25
Changed: Oct 27
Last Checked: Oct 28 at 6:25AM
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 Brian Vanevenhoven
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Investment Insights
Based on property information with market context.
This extensively renovated property, originally opened as the North Ave Market, features multiple restaurant and retail suites. Most recently, it operated as a single bar, restaurant, and event venue. The property includes 3,278 square feet on the first floor and a 5,000-square-foot finished basement with elevator access. Located along the desirable North Avenue Commercial Corridor, the property was renovated in 2022. The flexible layout can accommodate a variety of uses.
Key Highlights
- Extensively renovated in 2022
- 3,278 SF on the first floor and 5,000 SF finished basement
- Elevator access to the basement**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,832
Cap Rate
8.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,736,640
$1.7M
Cap Rate 7%
$1,240,457
$1.2M
Cap Rate 9%
$964,800
$964.8K
Market Conditions
NOI Build-Up for 8,278 SF
Gross rent
$134.1K $16.20/SF
− Vacancy
−$10.1K −$1.22/SF
EGI
$124.0K $14.99/SF
− OpEx
−$37.2K −$4.50/SF
NOI
$86.8K $10.49/SF
Area
Milwaukee, WI
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,736,640
Cap Rate 7%
$1,240,457
Cap Rate 9%
$964,800
Alternative Uses
Best Use
Specialty Retail
$1.45M
$1.27M – $1.69M
NOI $101,546 @ 7.0% cap · market cap 10.41%
Second Best
Retail
$1.24M
$1.09M – $1.45M
NOI $86,832 @ 7.0% cap · market cap 8.91%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,249 @ 7.0% cap · market cap 14.28%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
840
Businesses Nearby
Balanced
Demand for This Use
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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
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Market
Vacancy Rate% for Retail in Milwaukee, WI
Similar Off Market Nearby
- Growlers East Tosa — 6715 W North Ave, Wauwatosa, WI 53213
- McBob's Pub & Grill — 4919 W North Ave, Milwaukee, WI 53208
- Walters' on North — 6930 W North Ave, Wauwatosa, WI 53213
- Drunken Cobra — 6818 W North Ave, Wauwatosa, WI 53213
- Pipsqueak Wine — 6410 W North Ave, Wauwatosa, WI 53213
Frequently Asked Questions
What type of property is this?
Bar & Pub - Extensively renovated restaurant and retail venue in desirable location.
Where is this bar & pub located?
The property is located at 5900 W North Ave Milwaukee, WI.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Extensively renovated in 2022; 3,278 SF on the first floor and **5,000 SF finished basement**; Elevator access to the basement**
