Mixed-Use Beauty Salon
For Sale
$495,000
6103 23rd Ave, Kenosha, WI 53143
Fully operational beauty salon on the main level with a three-bedroom apartment upstairs, plus private parking and outdoor space.
Property Size1,976 SF
Price / SF$250.51
Days on Market114
Property Features for 6103 23rd Ave
General Information
Standard status
Active
Size
1,976 SF
Taxes and HOA fees
Annual Taxes
$2,374
Listing Agency:
EXP Realty, LLC~MKE
(866) 848-6990
Listed By:
Jorge Barquero · License #60064-94
(262) 344-9776
Source:
Exprealty
Added: May 15
Changed: Aug 20
Last Checked: Sep 4 at 2:05PM
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 EXP Realty, LLC~MKE
Investment Insights
Based on property information with market context.
This unique property includes a fully operational beauty salon on the main level. The business and equipment are not included in the sale. Upstairs, the building also features a three-bedroom apartment.
The sale includes both the lot the building occupies and an adjacent lot, allowing for private parking and additional outdoor space.
The property is offered for sale as a combined mixed-use building and adjoining lot, providing on-site parking and flexible live-work-style configuration.
The sale includes both the lot the building occupies and an adjacent lot, allowing for private parking and additional outdoor space.
The property is offered for sale as a combined mixed-use building and adjoining lot, providing on-site parking and flexible live-work-style configuration.
Key Highlights
- Fully operational beauty salon on the main level
- 3‑bedroom apartment upstairs
- Includes both the lot with the building and an adjacent lot
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
$24,866
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
5.02%
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%
$497,320
$497.3K
Cap Rate 7%
$355,229
$355.2K
Cap Rate 9%
$276,289
$276.3K
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
$41.5K $21.00/SF
− Vacancy
−$8.3K −$4.22/SF
EGI
$33.2K $16.78/SF
− OpEx
−$8.3K −$4.19/SF
NOI
$24.9K $12.58/SF
Area
Kenosha County, WI
Vacancy
20.10%
Lease Rate
$21.00 /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%
$497,320
Cap Rate 7%
$355,229
Cap Rate 9%
$276,289
Alternative Uses
Best Use
Office B
$355.2K
$310.8K – $414.4K
NOI $24,866 @ 7.0% cap · market cap 5.02%
Second Best
Mixed Use
$350.6K
$306.8K – $409.0K
NOI $24,542 @ 7.0% cap · market cap 4.96%
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
Location Intelligence
Trade Area within ½ mile
841
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- GreenOut Smoke+Vape — 6312 22nd Ave, Kenosha, WI 53143
- Daniel C. Esposito, DC — 1024 60th St UNIT 1, Kenosha, WI 53140
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Fully operational beauty salon on the main level with a three-bedroom apartment upstairs, plus private parking and outdoor space.
Where is this spa & wellness 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: Fully operational beauty salon on the main level; 3‑bedroom apartment upstairs; Includes both the lot with the building and an adjacent lot
