Mixed-Use Property with
For Sale
$495,000
6103 23rd Ave, Kenosha, WI 53143
Y, Kenosha, WI
Property Size1,976 SF
Lot Size0.16 Acres
Price / SF$250.51
Days on Market99
Property Features for 6103 23rd Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B2
Directions
East on Roosevelt Rd to 23rd Ave, then north to property.
Standard status
Active
APN
0112201108002
Size
1,976 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2374
Building Details
Year built
1903
Architectural style
Other
Listing Agency:
EXP Realty, LLC~MKE
(866) 848-6990
Listed By:
Jorge Barquero · License #60064-94
(262) 344-9776
Added: May 15
Changed: Aug 19
Last Checked: Aug 21 at 3:06AM
MLS# 1962817
Copyright © 2026 Metro MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,976-square-foot mixed-use property combines a fully operational beauty salon on the main level with a three-bedroom apartment above. The salon business and its equipment are excluded from the sale, while the building and land are included. Built in 1903, the property is zoned B2 and offers a commercial-residential layout within a compact footprint.
The sale covers the 0.16-acre parcel occupied by the building plus an adjacent lot. Together, the lots provide private parking and additional outdoor space. Located at 6103 23rd Ave in Kenosha, Wisconsin, the property presents an established mixed-use configuration with both commercial and residential components.
The sale covers the 0.16-acre parcel occupied by the building plus an adjacent lot. Together, the lots provide private parking and additional outdoor space. Located at 6103 23rd Ave in Kenosha, Wisconsin, the property presents an established mixed-use configuration with both commercial and residential components.
Key Highlights
- 1,976 SF mixed‑use building with commercial and residential components
- Fully operational beauty salon occupies the main level; business and equipment are excluded
- Upstairs apartment includes 3 bedrooms
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
$24,542
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
4.96%
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%
$490,840
$490.8K
Cap Rate 7%
$350,600
$350.6K
Cap Rate 9%
$272,689
$272.7K
Market Conditions
NOI Build-Up for 1,976 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
$42.7K $21.60/SF
− Vacancy
−$3.4K −$1.73/SF
EGI
$39.3K $19.87/SF
− OpEx
−$14.7K −$7.45/SF
NOI
$24.5K $12.42/SF
Area
Kenosha County, WI
Vacancy
8.00%
Lease Rate
$21.60 /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%
$490,840
Cap Rate 7%
$350,600
Cap Rate 9%
$272,689
Alternative Uses
Best Use
Mixed Use
$350.6K
$306.8K – $409.0K
NOI $24,542 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.30M
$2.01M – $2.68M
NOI $161,036 @ 7.0% cap · market cap 32.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
841
Businesses Nearby
Explore this area
Business Placement
Demographics for 53143, WI
22,702
Population
9,118
Households
2.5
Avg Household Size
36
Median Age
23%
College-Educated
87%
High-School Grad
4.1 sq mi
ZIP Area
5,537
Density / Sq Mi
$67,105
Median Household Income
$40,276
Median Earnings
$1,157
Median Rent
$186,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level configuration pairs commercial space with an upstairs three-bedroom apartment.
Where is this mixed-use property located?
The property is located at 6103 23rd Ave Kenosha, WI.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 1,976 SF mixed‑use building with commercial and residential components; Fully operational beauty salon occupies the main level; business and equipment are excluded; Upstairs apartment includes 3 bedrooms
