Duplex With Detached
New
For Sale
$254,000
7215 W National Ave, West Allis, WI 53214
Two-unit property with separate gas and electric meters, basement storage, and a detached garage.
Property Size2,254 SF
Price / SF$112.69
Days on Market6
Property Features for 7215 W National Ave
General Information
Standard status
Active
Size
2,254 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1911
Buildings
1
Tenancy
Single
Listing Agency:
Homestead Realty, Inc
Listed By:
Avenue Real Estate
(920) 893-3001
Source:
Avenueret
Added: Sep 18
Changed: Sep 21
Last Checked: Sep 22 at 4:41PM
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 Homestead Realty, Inc
Investment Insights
Based on property information with market context.
Built in 1911, this 2,254-square-foot duplex includes two residential units with distinct utility metering. The lower residence has a generously sized front living room with large windows, an updated kitchen, two bedrooms, and a full bathroom. The upper unit is occupied by a long-term tenant, providing an established rental component.
Additional features include a full basement, attic storage, and a detached 2.5-car garage. The property is maintained in its current condition and can support either owner occupancy or continued investment use. Its street-facing position on National Avenue places it near downtown West Allis restaurants, shops, community events, State Fair Park, and freeway access.
Additional features include a full basement, attic storage, and a detached 2.5-car garage. The property is maintained in its current condition and can support either owner occupancy or continued investment use. Its street-facing position on National Avenue places it near downtown West Allis restaurants, shops, community events, State Fair Park, and freeway access.
Key Highlights
- 2,254‑square‑foot duplex built in 1911
- Lower unit includes two bedrooms, updated kitchen, full bath, and oversized front living room
- Upper unit occupied by a long‑term tenant
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
$21,577
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
8.49%
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%
$431,540
$431.5K
Cap Rate 7%
$308,243
$308.2K
Cap Rate 9%
$239,744
$239.7K
Market Conditions
NOI Build-Up for 2,254 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
$41.4K $18.36/SF
− Vacancy
−$2.2K −$0.95/SF
EGI
$39.2K $17.41/SF
− OpEx
−$17.7K −$7.83/SF
NOI
$21.6K $9.57/SF
Area
Milwaukee County, WI
Vacancy
5.20%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
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%
$431,540
Cap Rate 7%
$308,243
Cap Rate 9%
$239,744
Alternative Uses
Best Use
Multifamily LT 5
$345.1K
$301.9K – $402.6K
NOI $24,155 @ 7.0% cap · market cap 9.51%
Second Best
Apartment 5plus
$308.2K
$269.7K – $359.6K
NOI $21,577 @ 7.0% cap · market cap 8.49%
Theoretical Best
Office A
$534.5K
$467.7K – $623.6K
NOI $37,415 @ 7.0% cap · market cap 14.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,206
Businesses Nearby
Explore this area
Business Placement
Demographics for 53214, WI
34,297
Population
17,530
Households
2
Avg Household Size
37
Median Age
28%
College-Educated
93%
High-School Grad
7.1 sq mi
ZIP Area
4,831
Density / Sq Mi
$62,712
Median Household Income
$46,304
Median Earnings
$999
Median Rent
$178,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate gas and electric meters, basement storage, and a detached garage.
Where is this duplex located?
The property is located at 7215 W National Ave West Allis, WI.
What is the asking price?
The asking price for this property is $254,000.
What are key features of this property?
This property features: 2,254‑square‑foot duplex built in 1911; Lower unit includes two bedrooms, updated kitchen, full bath, and oversized front living room; Upper unit occupied by a long‑term tenant
