Three-Unit Mixed-Use
For Sale
$279,900
935 West Greenfield Avenue, Milwaukee, WI 53204
Vacant three-unit building combines a main-level commercial space with two upstairs residential apartments.
Property Size1,742 SF
Price / SF$160.68
Days on Market238
Property Features for 935 West Greenfield Avenue
General Information
Standard status
Active
Size
1,742 SF
Property subtype
Multi-Family / Multi-Family
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Amenities
Crawl Space, Full, Yes
Vinyl
Building Details
Year Built
1899
Listing Agency:
Venture Real Estate Group LLC
(414) 208-0801
Listed By:
Manish Satija · License #85413-94
(414) 208-0801
Source:
Compass
Added: Jan 6
Changed: Aug 31
Last Checked: Aug 30 at 11:36AM
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 Venture Real Estate Group LLC
Investment Insights
Based on property information with market context.
Located at 935 West Greenfield Avenue, this 1742-square-foot mixed-use property contains three separate units and is currently vacant. The main level is configured as commercial space with a half bath, new siding, and newer windows. The two upper-level residential units provide distinct layouts: one includes a living room, kitchen, remodeled full bath, finished attic with den, and two bedrooms; the other has an eat-in kitchen, full bath, living room, and three bedrooms.
Built in 1899, the property also includes a full crawl space and vinyl interior features. Its combination of commercial and residential areas supports a live-work or multi-unit operating configuration, subject to applicable requirements.
Built in 1899, the property also includes a full crawl space and vinyl interior features. Its combination of commercial and residential areas supports a live-work or multi-unit operating configuration, subject to applicable requirements.
Key Highlights
- 1742 SF mixed‑use property at 935 West Greenfield Avenue
- Three units: one main‑level commercial space and two upstairs residential units
- Commercial area includes a half bath, new siding, and newer windows
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
$21,270
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
7.60%
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%
$425,400
$425.4K
Cap Rate 7%
$303,857
$303.9K
Cap Rate 9%
$236,333
$236.3K
Market Conditions
NOI Build-Up for 1,742 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
$38.7K $22.20/SF
− Vacancy
−$4.6K −$2.66/SF
EGI
$34.0K $19.54/SF
− OpEx
−$12.8K −$7.33/SF
NOI
$21.3K $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%
$425,400
Cap Rate 7%
$303,857
Cap Rate 9%
$236,333
Alternative Uses
Best Use
Mixed Use
$303.9K
$265.9K – $354.5K
NOI $21,270 @ 7.0% cap · market cap 7.60%
Second Best
Retail
$261.0K
$228.4K – $304.6K
NOI $18,273 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$418.6K
$366.3K – $488.4K
NOI $29,303 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,808
Businesses Nearby
Explore this area
Business Placement
Demographics for 53204, WI
39,728
Population
14,979
Households
2.7
Avg Household Size
29
Median Age
15%
College-Educated
65%
High-School Grad
3.2 sq mi
ZIP Area
12,415
Density / Sq Mi
$43,645
Median Household Income
$30,906
Median Earnings
$964
Median Rent
$106,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Vacant three-unit building combines a main-level commercial space with two upstairs residential apartments.
Where is this mixed-use property located?
The property is located at 935 West Greenfield Avenue Milwaukee, WI.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 1742 SF mixed‑use property at 935 West Greenfield Avenue; Three units: one main‑level commercial space and two upstairs residential units; Commercial area includes a half bath, new siding, and newer windows
