Historic Mixed-Use
For Sale
$795,000
726 6TH ST, Milwaukee, WI 53204
Historic 1890s mixed-use building with updated systems, ground-floor commercial space, and multiple studio and apartment units.
Property Size7,428 SF
Price / SF$107.03
Days on Market70
Property Features for 726 6TH ST
General Information
Standard status
Active
Size
7,428 SF
Property subtype
General Commercial
Zoning
rooming house
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$9,419
Amenities
ADA-compliant restrooms
shared kitchen
full bath
private balcony
Central Air
3
LB2
0.0 to .499
Building Details
Year Built
1895
Listing Agency:
Compass RE WI-Northshore
(414) 232-7276
Listed By:
The Collaboration Group* · License #BK3153120
(414) 232-7276
Source:
Xome
Added: Jun 1
Changed: Aug 8
Last Checked: Aug 9 at 5:03AM
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 Compass RE WI-Northshore
Investment Insights
Based on property information with market context.
This historic 1890s building offers a mixed-use layout with significant updates, including newer mechanicals, roof, and major building systems. The first floor includes a highly visible commercial space with a capacity of 162 and two ADA-compliant restrooms, suitable for a variety of business uses. Upstairs, the property features four studio units with a shared kitchen and full bath, along with a spacious apartment that has its own kitchen, full bath, and private balcony.
The building is located in the heart of Walker’s Point on a prominent corner of S. 6th Street and National Avenue.
The property is described as having versatile rooming house zoning, providing flexibility for investors and owner-occupants.
The building is located in the heart of Walker’s Point on a prominent corner of S. 6th Street and National Avenue.
The property is described as having versatile rooming house zoning, providing flexibility for investors and owner-occupants.
Key Highlights
- Historic 1890s mixed‑use building (year built 1895) with LB2 zoning and versatile rooming house use.
- Ground‑floor commercial space with capacity of 162 and two ADA‑compliant restrooms.
- Upstairs includes four studio units with shared kitchen and full bath.
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
$69,184
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
8.70%
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%
$1,383,680
$1.4M
Cap Rate 7%
$988,343
$988.3K
Cap Rate 9%
$768,711
$768.7K
Market Conditions
NOI Build-Up for 7,428 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
$131.0K $17.64/SF
− Vacancy
−$5.2K −$0.71/SF
EGI
$125.8K $16.93/SF
− OpEx
−$56.6K −$7.62/SF
NOI
$69.2K $9.31/SF
Area
Milwaukee, WI
Vacancy
4.00%
Lease Rate
$17.64 /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%
$1,383,680
Cap Rate 7%
$988,343
Cap Rate 9%
$768,711
Alternative Uses
Best Use
Retail
$1.11M
$974.0K – $1.30M
NOI $77,916 @ 7.0% cap · market cap 9.80%
Second Best
Apartment 5plus
$988.3K
$864.8K – $1.15M
NOI $69,184 @ 7.0% cap · market cap 8.70%
Theoretical Best
Office A
$1.79M
$1.56M – $2.08M
NOI $124,951 @ 7.0% cap · market cap 15.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,787
Businesses Nearby
Explore this area
Business Placement
Demographics for 53204, WI
39,728
Population
14,979
Households
2.7
Avg Household Size
29
Median Age
15%
College-Educated
65%
High-School Grad
3.2 sq mi
ZIP Area
12,415
Density / Sq Mi
$43,645
Median Household Income
$30,906
Median Earnings
$964
Median Rent
$106,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Historic 1890s mixed-use building with updated systems, ground-floor commercial space, and multiple studio and apartment units.
Where is this apartment building located?
The property is located at 726 6TH ST Milwaukee, WI.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Historic 1890s mixed‑use building (year built 1895) with LB2 zoning and versatile rooming house use.; Ground‑floor commercial space with capacity of 162 and two ADA‑compliant restrooms.; Upstairs includes four studio units with shared kitchen and full bath.
