West Allis Retail/Office
For Sale
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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 Market1429
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
(414) 852-9209
Listed By:
Diane Drummy · License #WI 56183-90
Source:
Crexi
Added: Sep 23, 2022
Changed: Aug 17
Last Checked: Aug 21 at 5:10PM
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 = 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
$37,573
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
7.01%
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%
$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
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
$55.7K $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 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%
$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
Property Profile
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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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.
