Live-Work Property with
New
For Sale
$330,000
966 S 60th St, West Allis, WI 53214
N, West Allis, WI
Property Size1,261 SF
Lot Size0.08 Acres
Price / SF$261.70
Days on Market3
Property Features for 966 S 60th St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-3
Directions
Google / Apple Maps
Standard status
Active
APN
4380199000
Size
1,261 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6124
Building Details
Year built
1913
Architectural style
Other
Listing Agency:
Milwaukee Flat Fee Homes
(414) 482-5050
Listed By:
Paul Stevens · License #5930690
(414) 482-5050
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 21 at 8:06PM
MLS# 1976842
Copyright © 2026 Metro MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,261-square-foot live-work property pairs an updated commercial area with an attached residential component. The business portion measures approximately 620 square feet and includes a reception area, three private offices or treatment rooms, and a half bath. The residence offers two bedrooms, a flex room, one full bath, and two half baths, with fresh paint and new carpeting. The property was built in 1913 and carries C-3 zoning.
Three off-street parking spaces and a detached one-car garage provide on-site vehicle accommodations. The West Allis location offers access to shopping, restaurants, and major roadways. The commercial configuration may suit professional uses such as office, therapy, salon, spa, massage therapy, insurance, legal, or accounting operations, subject to buyer verification of permitted uses.
Three off-street parking spaces and a detached one-car garage provide on-site vehicle accommodations. The West Allis location offers access to shopping, restaurants, and major roadways. The commercial configuration may suit professional uses such as office, therapy, salon, spa, massage therapy, insurance, legal, or accounting operations, subject to buyer verification of permitted uses.
Key Highlights
- 1,261‑square‑foot live‑work property with commercial and residential components
- Approximately 620 sq. ft. of updated commercial space with reception, 3 private offices/treatment rooms, and a half bath
- Attached 2‑bedroom residence with a flex room, 1 full plus 2 half baths
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
$17,243
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
5.23%
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%
$344,860
$344.9K
Cap Rate 7%
$246,329
$246.3K
Cap Rate 9%
$191,589
$191.6K
Market Conditions
NOI Build-Up for 1,261 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
$31.3K $24.84/SF
− Vacancy
−$8.3K −$6.61/SF
EGI
$23.0K $18.23/SF
− OpEx
−$5.7K −$4.56/SF
NOI
$17.2K $13.67/SF
Area
Milwaukee County, WI
Vacancy
26.60%
Lease Rate
$24.84 /SF/Yr
Expense Ratio
25.00%
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%
$344,860
Cap Rate 7%
$246,329
Cap Rate 9%
$191,589
Alternative Uses
Best Use
Office B
$246.3K
$215.5K – $287.4K
NOI $17,243 @ 7.0% cap · market cap 5.23%
Second Best
Mixed Use
$221.6K
$193.9K – $258.5K
NOI $15,510 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$299.0K
$261.7K – $348.9K
NOI $20,932 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
1,131
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 Office 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?
Live-work space - C-3-zoned property combines an updated business area with a two-bedroom residence and dedicated parking.
Where is this live-work space located?
The property is located at 966 S 60th St West Allis, WI.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 1,261‑square‑foot live‑work property with commercial and residential components; Approximately 620 sq. ft. of updated commercial space with reception, 3 private offices/treatment rooms, and a half bath; Attached 2‑bedroom residence with a flex room, 1 full plus 2 half baths
