Mixed-Use Building With Apartment
For Sale
$795,000
726 S 6th St, Milwaukee, WI 53204
Corner property combines a commercial ground floor with five upstairs residential units and rooming house zoning.
Property Size7,428 SF
Price / SF$107.03
Days on Market27
Property Features for 726 S 6th St
General Information
Standard status
Active
Size
7,428 SF
Zoning
rooming house
Building Details
Year Built
1895
Buildings
1
Listing Agency:
Compass RE WI-Northshore
(850) 554-3142
Listed By:
The Collaboration Group* · License #BK3153120
Source:
Levelupwi
Added: Aug 3
Changed: Aug 29
Last Checked: Aug 29 at 4:54PM
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.
Built in 1895, this 7,428-square-foot mixed-use building places commercial and residential components within one property. The ground floor contains a highly visible commercial area with capacity for 162 occupants and two ADA-compliant restrooms. Building improvements include newer mechanical systems, a newer roof, and updates to major building systems.
The upper level includes four studio units sharing a kitchen and full bathroom, along with a larger apartment that has its own kitchen, full bathroom, and private balcony. Rooming house zoning supports the existing residential configuration and adds flexibility for an investor or owner-occupant. The property occupies the corner of S. 6th Street and National Avenue in Milwaukee’s Walker’s Point neighborhood.
The upper level includes four studio units sharing a kitchen and full bathroom, along with a larger apartment that has its own kitchen, full bathroom, and private balcony. Rooming house zoning supports the existing residential configuration and adds flexibility for an investor or owner-occupant. The property occupies the corner of S. 6th Street and National Avenue in Milwaukee’s Walker’s Point neighborhood.
Key Highlights
- 7,428‑square‑foot mixed‑use building constructed in 1895
- Ground‑floor commercial space with capacity for 162 occupants
- Two ADA‑compliant restrooms serve the commercial area
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
Mixed Use
$1.30M
$1.13M – $1.51M
NOI $90,696 @ 7.0% cap · market cap 11.41%
Second Best
Retail
$1.11M
$974.0K – $1.30M
NOI $77,916 @ 7.0% cap · market cap 9.80%
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
Property Profile
Current Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner property combines a commercial ground floor with five upstairs residential units and rooming house zoning.
Where is this mixed-use property located?
The property is located at 726 S 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: 7,428‑square‑foot mixed‑use building constructed in 1895; Ground‑floor commercial space with capacity for 162 occupants; Two ADA‑compliant restrooms serve the commercial area
