Multi-Unit Restaurant
For Sale
$735,000
8301 W Silver Spring Dr, Milwaukee, WI 53218
Updated restaurant space paired with two independent office and retail storefronts in one commercial building.
Property Size6,114 SF
Price / SF$120.22
Days on Market62
Property Features for 8301 W Silver Spring Dr
General Information
Standard status
Active
Size
6,114 SF
Total Parking Spaces
26
Property subtype
Commercial
Building Details
Year Built
1962
Tenancy
Multi
Listing Agency:
Homestead Realty, Inc
(414) 534-1965
Listed By:
Maikou Yang · License #92646-94
Source:
Homesinwisconsin
Added: Jun 30
Changed: Aug 29
Last Checked: Aug 29 at 3:35PM
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.
The property combines an operating restaurant with two separate office and retail storefronts, creating a multi-unit commercial configuration within one building. The restaurant has been updated and includes a new commercial kitchen. The improvements provide distinct spaces for restaurant, office, and storefront operations without relying on a single-use layout.
Built in 1962, the building contains 6,114 square feet and includes 26 dedicated parking spaces. It occupies the intersection of Silver Spring Dr. and Fond du Lac Ave. in Milwaukee, Wisconsin, providing a shared site for customers, occupants, and restaurant operations.
Built in 1962, the building contains 6,114 square feet and includes 26 dedicated parking spaces. It occupies the intersection of Silver Spring Dr. and Fond du Lac Ave. in Milwaukee, Wisconsin, providing a shared site for customers, occupants, and restaurant operations.
Key Highlights
- 6,114‑square‑foot commercial building constructed in 1962
- Operating restaurant with updated interior improvements
- New commercial kitchen included with the property
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
$58,740
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
7.99%
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%
$1,174,800
$1.2M
Cap Rate 7%
$839,143
$839.1K
Cap Rate 9%
$652,667
$652.7K
Market Conditions
NOI Build-Up for 6,114 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
$91.7K $15.00/SF
− Vacancy
−$7.8K −$1.28/SF
EGI
$83.9K $13.73/SF
− OpEx
−$25.2K −$4.12/SF
NOI
$58.7K $9.61/SF
Area
ZIP 53218
Vacancy
8.50%
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%
$1,174,800
Cap Rate 7%
$839,143
Cap Rate 9%
$652,667
Alternative Uses
Best Use
Industrial
$3.82M
$3.34M – $4.45M
NOI $267,161 @ 7.0% cap · market cap 36.35%
Second Best
Specialty Retail
$1.02M
$890.7K – $1.19M
NOI $71,259 @ 7.0% cap · market cap 9.70%
Theoretical Best
Warehouse
$4.63M
$4.06M – $5.41M
NOI $324,409 @ 7.0% cap · market cap 44.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
371
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53218, WI
38,488
Population
15,971
Households
2.4
Avg Household Size
31
Median Age
10%
College-Educated
83%
High-School Grad
5.9 sq mi
ZIP Area
6,523
Density / Sq Mi
$42,207
Median Household Income
$33,622
Median Earnings
$1,034
Median Rent
$122,200
Median Home Value
Market
Vacancy Rate% for Retail in Milwaukee, WI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Updated restaurant space paired with two independent office and retail storefronts in one commercial building.
Where is this conventional restaurant located?
The property is located at 8301 W Silver Spring Dr Milwaukee, WI.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: 6,114‑square‑foot commercial building constructed in 1962; Operating restaurant with updated interior improvements; New commercial kitchen included with the property
