West Allis Retail/Office
For Sale
Contact for pricing
1112 S 60th St, West Allis, WI 53214
3,712 SF retail/office space with finished basement and parking.
Property Size3,712 SF
Price / SF$144.46
Days on Market1475
Property Features for 1112 S 60th St
General Information
Standard status
Active
Size
3,712 SF
Property subtype
Retail
Building Details
Year Built
1947
Listing Agency:
Prestige Realty
Listed By:
Diane Drummy · License #WI 56183-90
(414) 852-9209
Source:
Crexi
Added: Sep 23, 2022
Changed: Oct 4
Last Checked: Oct 5 at 7:18PM
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 Prestige Realty
Investment Insights
Based on property information with market context.
This 3,712 square foot property, including a finished basement, is suitable for retail, office, or light distribution purposes. Previously used as a pottery shop, the building features new LED lighting, a new roof, a new stone facade, and new glass block windows on the side and rear. Additional improvements include new gutters, new interior and exterior paint, and an overhead door in the rear. A large parking lot has been freshly paved and includes a side driveway. The property is currently leased to a daycare for a three-year term from August 1, 2024, to August 1, 2027, with a monthly rent of $3,000 for the first six months, $3,500 for months 6-12, $4,000 for year 2, and $4,500 for year 3.
Key Highlights
- Leased to a daycare through 8/1/27, providing immediate rental income with escalating monthly payments.
- Substantial 3,712 sq ft space including a finished basement.
- Recent renovations including new LED lighting, roof, stone facade, glass block windows, gutters, and paint.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,573
Cap Rate
7.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$751,460
$751.5K
Cap Rate 7%
$536,757
$536.8K
Cap Rate 9%
$417,478
$417.5K
Market Conditions
NOI Build-Up for 3,712 SF
Gross rent
$55.7K $15.00/SF
− Vacancy
−$2.0K −$0.54/SF
EGI
$53.7K $14.46/SF
− OpEx
−$16.1K −$4.34/SF
NOI
$37.6K $10.12/SF
Area
Milwaukee County, WI
Vacancy
3.60%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$751,460
Cap Rate 7%
$536,757
Cap Rate 9%
$417,478
Alternative Uses
Best Use
Retail
$536.8K
$469.7K – $626.2K
NOI $37,573 @ 7.0% cap · market cap 7.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$880.3K
$770.2K – $1.03M
NOI $61,618 @ 7.0% cap · market cap 11.49%
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
721
Businesses Nearby
Explore this area
Business Placement
Demographics for 53214, WI
34,297
Population
17,530
Households
2
Avg Household Size
37
Median Age
28%
College-Educated
93%
High-School Grad
7.1 sq mi
ZIP Area
4,831
Density / Sq Mi
$62,712
Median Household Income
$46,304
Median Earnings
$999
Median Rent
$178,600
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 Midwest region
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Frequently Asked Questions
What type of property is this?
Retail space - 3,712 SF retail/office space with finished basement and parking.
Where is this retail space located?
The property is located at 1112 S 60th St West Allis, WI.
What is the asking price?
The asking price for this property is $536,250.
What are key features of this property?
This property features: Leased to a daycare through 8/1/27, providing immediate rental income with escalating monthly payments.; Substantial 3,712 sq ft space including a finished basement.; Recent renovations including new LED lighting, roof, stone facade, glass block windows, gutters, and paint.
