Four-Unit Brick Building with New
For Sale
$419,900
8636 West Congress Street, Milwaukee, WI 53225
Four-unit brick income property with recent roof, windows, landscaping, and basement plus large garage and parking slab.
Property Size3,664 SF
Price / SF$114.60
Days on Market168
Property Features for 8636 West Congress Street
General Information
Standard status
Active
Size
3,664 SF
Property subtype
Multi-Family / Multi-Family
Net Operating Income
$33,566
Amenities
Block, Full, Yes
Brick
Building Details
Year Built
1960
Listing Agency:
Jason Scott Realty & Management, LLC
Listed By:
Jason Fernhaber · License #52084-90
(414) 467-8665
Source:
Compass
Added: Mar 23
Changed: Aug 8
Last Checked: Jul 22 at 10:17PM
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 Jason Scott Realty & Management, LLC
Investment Insights
Based on property information with market context.
This four-unit brick building is configured as a residential income property and includes a full basement. The exterior has been updated with a new roof and newer windows, and the landscaping has been improved. The property also features a large garage and a parking slab to support on-site parking needs.
All units are market and currently occupied.
Additional features include a well-kept interior with basement space, providing practical storage and utility area for each unit.
All units are market and currently occupied.
Additional features include a well-kept interior with basement space, providing practical storage and utility area for each unit.
Key Highlights
- Brick 4‑unit retail property built in 1960
- Recent roof, windows, and landscaping
- Full block basement
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
$36,856
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
8.78%
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%
$737,120
$737.1K
Cap Rate 7%
$526,514
$526.5K
Cap Rate 9%
$409,511
$409.5K
Market Conditions
NOI Build-Up for 3,664 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
$55.0K $15.00/SF
− Vacancy
−$2.3K −$0.63/SF
EGI
$52.7K $14.37/SF
− OpEx
−$15.8K −$4.31/SF
NOI
$36.9K $10.06/SF
Area
Milwaukee, WI
Vacancy
4.20%
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%
$737,120
Cap Rate 7%
$526,514
Cap Rate 9%
$409,511
Alternative Uses
Best Use
Multifamily LT 5
$526.5K
$460.7K – $614.3K
NOI $36,856 @ 7.0% cap · market cap 8.78%
Second Best
Apartment 5plus
$487.5K
$426.6K – $568.8K
NOI $34,126 @ 7.0% cap · market cap 8.13%
Theoretical Best
Office A
$880.5K
$770.4K – $1.03M
NOI $61,634 @ 7.0% cap · market cap 14.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
558
Businesses Nearby
Explore this area
Business Placement
Demographics for 53225, WI
25,138
Population
11,019
Households
2.3
Avg Household Size
33
Median Age
22%
College-Educated
91%
High-School Grad
7.0 sq mi
ZIP Area
3,591
Density / Sq Mi
$54,433
Median Household Income
$40,463
Median Earnings
$1,094
Median Rent
$174,500
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?
Quadplex - Four-unit brick income property with recent roof, windows, landscaping, and basement plus large garage and parking slab.
Where is this quadplex located?
The property is located at 8636 West Congress Street Milwaukee, WI.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Brick 4‑unit retail property built in 1960; Recent roof, windows, and landscaping; Full block basement
