Mixed-Use Property with
New
For Sale
$499,000
7424 7424 N 60th STREET, Milwaukee, WI 53223
Open commercial space is combined with an upper-level residential unit nearing completion.
Property Size2,273 SF
Price / SF$219.53
Days on Market4
Property Features for 7424 7424 N 60th STREET
General Information
Standard status
Active
Size
2,273 SF
Total Parking Spaces
80
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$8,150
Amenities
bike path access
Over 1 acre to 2 acres
Listing Agency:
Realty of America LLC
(708) 323-1560
Listed By:
Lisa-Marie Franco-Garcia · License #8156294
(414) 399-0460
Source:
Xome
Added: Sep 7
Changed: Sep 9
Last Checked: Sep 9 at 3:55PM
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 Realty of America LLC
Investment Insights
Based on property information with market context.
This mixed-use property combines an open commercial floor with an upper-level residential unit that is near completion. The main level was formerly configured as a pub and is now arranged for a buyer’s build-out, offering a flexible starting point for retail, service, creative, or other commercial concepts. The property is identified as having flexible zoning, though no specific designation is provided.
Located at 7424 N 60th Street in Milwaukee, the property fronts a recently improved 60th Street corridor with access to a bike path. On-site parking accommodates 80 vehicles. The parcel is identified as measuring over 1 acre to 2 acres, providing a substantial setting for a mixed-use commercial property. The upper residence may support owner occupancy or rental use, subject to applicable approvals.
Located at 7424 N 60th Street in Milwaukee, the property fronts a recently improved 60th Street corridor with access to a bike path. On-site parking accommodates 80 vehicles. The parcel is identified as measuring over 1 acre to 2 acres, providing a substantial setting for a mixed-use commercial property. The upper residence may support owner occupancy or rental use, subject to applicable approvals.
Key Highlights
- 80‑vehicle parking capacity
- Upper‑level residential unit nearing completion
- Open main‑floor commercial area ready for build‑out
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
$27,753
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
5.56%
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%
$555,060
$555.1K
Cap Rate 7%
$396,471
$396.5K
Cap Rate 9%
$308,367
$308.4K
Market Conditions
NOI Build-Up for 2,273 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
$50.5K $22.20/SF
− Vacancy
−$6.1K −$2.66/SF
EGI
$44.4K $19.54/SF
− OpEx
−$16.7K −$7.33/SF
NOI
$27.8K $12.21/SF
Area
Milwaukee, WI
Vacancy
12.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
37.50%
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%
$555,060
Cap Rate 7%
$396,471
Cap Rate 9%
$308,367
Alternative Uses
Best Use
Mixed Use
$396.5K
$346.9K – $462.6K
NOI $27,753 @ 7.0% cap · market cap 5.56%
Second Best
Retail
$340.6K
$298.0K – $397.4K
NOI $23,843 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$546.2K
$477.9K – $637.3K
NOI $38,235 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
Explore this area
Business Placement
Demographics for 53223, WI
28,884
Population
13,436
Households
2.1
Avg Household Size
39
Median Age
29%
College-Educated
90%
High-School Grad
9.9 sq mi
ZIP Area
2,918
Density / Sq Mi
$60,477
Median Household Income
$44,625
Median Earnings
$1,071
Median Rent
$184,300
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 Retail in Milwaukee, WI
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Open commercial space is combined with an upper-level residential unit nearing completion.
Where is this mixed-use property located?
The property is located at 7424 7424 N 60th STREET Milwaukee, WI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 80‑vehicle parking capacity; Upper‑level residential unit nearing completion; Open main‑floor commercial area ready for build‑out
