Free-Standing Retail Building with
For Sale
$399,900
7027 W North Ave, Wauwatosa, WI 53213
Y, Wauwatosa, WI
Property Size1,576 SF
Lot Size0.10 Acres
Price / SF$253.74
Days on Market178
Property Features for 7027 W North Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
TRADE D
Directions
Corner of North Ave and 71st St.
Standard status
Active
APN
344017200
Size
1,576 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6254
Building Details
Year built
1980
Architectural style
Other
Listing Agency:
RE/MAX Lakeside-South · RE/MAX International
(414) 325-0000
Listed By:
Yoon Kim · License #5218694
(414) 617-6980
Added: Feb 24
Changed: Aug 19
Last Checked: Aug 21 at 5:06PM
MLS# 1951396
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 free-standing commercial building totals 1,576 square feet and is described as a solid, well-maintained concrete structure with a spancrete roof. The property includes on-site parking and a standing sign for visibility. It is currently operated as a dry cleaner, and the business and equipment may be negotiated or completely removed.
The property is located on W North Ave in Wauwatosa and is described as having easy in-and-out access from North Ave. Zoning is listed as TRADE D, and the remarks also reference flexible C-1 zoning for a variety of users.
For investors or owner-operators, the configuration supports continued operation as a dry cleaner while also offering flexibility if the business and equipment are removed.
The property is located on W North Ave in Wauwatosa and is described as having easy in-and-out access from North Ave. Zoning is listed as TRADE D, and the remarks also reference flexible C-1 zoning for a variety of users.
For investors or owner-operators, the configuration supports continued operation as a dry cleaner while also offering flexibility if the business and equipment are removed.
Key Highlights
- Free‑standing commercial building with parking and over 1,500 SF (Year built 1980)
- Concrete building with spancrete roof and easy in‑and‑out access from North Ave
- Located in the Wauwatosa commercial corridor on a busy North Ave with a standing sign
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
$15,952
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
3.99%
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%
$319,040
$319.0K
Cap Rate 7%
$227,886
$227.9K
Cap Rate 9%
$177,244
$177.2K
Market Conditions
NOI Build-Up for 1,576 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
$23.6K $15.00/SF
− Vacancy
−$851 −$0.54/SF
EGI
$22.8K $14.46/SF
− OpEx
−$6.8K −$4.34/SF
NOI
$16.0K $10.12/SF
Area
Milwaukee County, WI
Vacancy
3.60%
Lease Rate
$15.00 /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%
$319,040
Cap Rate 7%
$227,886
Cap Rate 9%
$177,244
Alternative Uses
Best Use
Retail
$227.9K
$199.4K – $265.9K
NOI $15,952 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$373.7K
$327.0K – $436.0K
NOI $26,161 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
559
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53213, WI
26,469
Population
12,591
Households
2.1
Avg Household Size
37
Median Age
63%
College-Educated
98%
High-School Grad
3.9 sq mi
ZIP Area
6,787
Density / Sq Mi
$94,144
Median Household Income
$59,472
Median Earnings
$1,228
Median Rent
$311,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Well-maintained concrete storefront building with parking and a standing sign on North Avenue.
Where is this storefront property located?
The property is located at 7027 W North Ave Wauwatosa, WI.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Free‑standing commercial building with parking and over 1,500 SF (Year built 1980); Concrete building with spancrete roof and easy in‑and‑out access from North Ave; Located in the Wauwatosa commercial corridor on a busy North Ave with a standing sign
