Market study for the owner · Riverwest, Milwaukee 53212
2600-2604 N Booth St
6 units, 7,868 SF, bought 2026-01-26 at $850,000. Where it stands in the 2026 market, by the numbers, every figure sourced.
Market study for the owner · Riverwest, Milwaukee 53212
6 units, 7,868 SF, bought 2026-01-26 at $850,000. Where it stands in the 2026 market, by the numbers, every figure sourced.
Where you stand (short version)
You paid $850,000 (GRM 9.43 on today's rent, GRM 7.94 on market rent). Priced piece by piece at market rents, the building works out to $795,949 to $975,276, close to the middle of that range at your $850,000. The units are in great shape and fully leased; the rents are simply below market, so the work that pays is the rent roll. The full picture is below.
Value, piece by piece
Apartments at 7.74 to 9.72 times rent plus shops at a 7.2% to 8.5% return.
The property in pictures
Click any photo to open it full size; the arrow keys and the on-screen buttons step through the set. All 29 come from the 2025 sale listing (LoopNet listing 35897675).
7,868 SF is gross building area; the rentable area is 7,011 SF (Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 35).
Market evidence · rents
Seven two-bedroom comps in Riverwest and just around it, sized against each of your three apartments. Your building appears twice: at today's rents and at market (the - PF row). Sort any column; each listing's story and source open in its Details.
| Property | Unit | SF | Rent per month | Rent $/SF/mo |
|---|---|---|---|---|
| 2600-2604 N Booth St Subject | 3x 2BR (1,440 / 1,050 / 1,421 SF) | avg 1,304 SF | avg $1,398/mo ($4,195 total) | $1.07/SF/mo |
Units Apt 1: 1,440 SF, 2BR/2BA · Apt 2: 1,050 SF, 2BR/1.5BA · Apt 3: 1,421 SF, 2BR/2BA In place Apt 1 $1,375 + Apt 2 $1,495 + Apt 3 $1,325 = $4,195/mo (rent roll, Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 68) Condition Great shape: tall ceilings including the top-floor cathedral ceiling, rooftop decks on the 2nd and 3rd floor apartments, in-unit washer and dryer plus dishwasher in all apartments, parking for about 4 cars off the alley, Apt 2 remodeled 2024, some apartments have porches. Source note source note | ||||
| 2600-2604 N Booth St - PF Subject | 3x 2BR (1,440 / 1,050 / 1,421 SF) | avg 1,304 SF | avg $1,698/mo ($5,095 total) | $1.30/SF/mo |
At market $61,140 a year ($5,095/mo) for the three apartments (Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 69) Against today In place the three bring $4,195/mo, about $900/mo below market. Source note source note | ||||
 2105 N Booth St Unit 1, Milwaukee, WI 53212 | 2BR/1BA | 1,000 SF | $1,799/mo | $1.80/SF/mo |
Sized against your units Apt 2 (1,000 SF = -4.8% vs 1,050) Baths 1 bath (2BR/1BA) Lease and utilities Residential gross; trash included. Availability Advertised October 4, 2026 by Huettner Properties; available now. Inside Full remodel: wood plank flooring, central air, full-size washer and dryer in the unit, new cabinetry with granite counters, stainless appliances including a dishwasher, marble shower, walk-in closet, garage parking, shared balcony, storage locker, pet friendly. From the source '2 Beds • 1 Bath $1,799 1000 ft 2 1 Available Managed By: Huettner Properties ... 2105-1 $1,799 Available Now ... 2105 North Booth Street #3 $1,779 Rented ... 2105-6 $1,799 Rented' (Rentable); '2105 N Booth St was advertised by Huettner Properties on October 4, 2026 at 9:51 AM ET and last updated today at 9:22 AM ET' (RentalSource) Source note source note | ||||
 2204 N Booth St Lower, Milwaukee, WI 53212 | 1,300 SF | $1,950/mo | $1.50/SF/mo | |
Sized against your units Your Apt 1/3 (1,300 SF vs 1,440 / 1,421 SF, -8.5% / -9.7%) Baths 1.5+ baths baths (2BR/1.5BA) Lease and utilities Residential gross; garbage, water and sewer included. Availability Available now; one month free on lease signing (effective $1,787.50/mo). Inside 1,300 SF two-bedroom lower: hardwood floors, central air, washer and dryer in the unit, dishwasher, large kitchen and dining room, garage space plus off-street parking, park views, smoke-free. From the source '1ST MONTH FREE! | Spacious 2BR Riverwest Apartment with Park Views, Garage & Central A/C ... 2 Bedrooms ... $1,950 1300 Sq Ft Available Now' (CollegeRentals); 'Available now $1,950/mo 2 beds • 1.5 baths • 1,300 sqft ... Get your first month free upon signing a lease!' (Rentler); 'Monthly rent $1,950 Beds 2 Baths 1.5 Sqft 1,300 ... Listed 5+ Days Ago' (Zumper) Source note source note | ||||
 2822 N Fratney St #A, Milwaukee, WI 53212 | 2BR/1BA | 905 SF | $1,545/mo | $1.71/SF/mo |
Sized against your units Between your units (905 SF vs Apt 2's 1,050 SF, -13.8%): a quality and price signal Baths 1 bath (2BR/1BA) Lease and utilities Residential gross; garbage, water, lawn care and snow removal included; baseboard heat; one-year lease. Availability Leased or pending as of October 2026 (ForRent shows "Check Back Soon for Upcoming Availability"). Inside Hardwood flooring, shared laundry, garbage, water, lawn and snow included, baseboard heat. From the source '$1,545 Total Monthly Price 2822 N Fratney St Unit A ... Last Updated: 2 Wks Ago ... Check Back Soon for Upcoming Availability' (ForRent); '2822 N Fratney St A ... 2 Bedroom Apartment for $1,500/month' (Zumper); 'Flooring: Hardwood ... Garbage included in rent ... Date on market: 8/18/2025' (Zillow) Source note source note | ||||
 914 E Townsend St Upper, Milwaukee, WI 53212 | 2BR/1BA | 1,150 SF | $1,400/mo | $1.22/SF/mo |
Sized against your units Your Apt 2 band edge (1,150 SF vs 1,050 SF, +9.5%) Baths 1 bath (2BR/1BA) Lease and utilities Residential gross; owner pays water, trash and recycling. Availability Listed for rent September 30, 2026 at $1,400 (Zillow); updated four days ago (Zumper). Inside Hardwood flooring, washer and dryer in the unit. From the source 'Price history ... 9/30/2026 Listed for rent $1,400 $1/sqft Source: Zillow Rentals'; '2 beds 1 baths 1,150 sqft ... Laundry: In Unit ... Flooring: Hardwood' (Zillow); '914 E Townsend St #UPPER ... 2 Bedroom Apartment for $1,400/month ... currently on market' (Zumper) Source note source note | ||||
 Row House 31, 2650 N Humboldt Ave, Milwaukee, WI 53212 | 1,550 SF | $2,345/mo | $1.51/SF/mo | |
Sized against your units Apt 1/3 ceiling bracket (1,550 SF = +7.6% vs 1,440) - 31-unit 2012 complex = NEW-BUILD CEILING, not a small-building peer Baths 1.5+ baths baths (2BR/2.5BA) - subject's exact bath config Lease and utilities Residential gross (base rent; fees extra). Availability Available now; built 2012, 31 units over 3 stories. Inside New-build townhome ceiling bracket: 2BR/2.5BA homes with private entrances, attached two-car garages, large balconies, walk-in closets, pet friendly. From the source 'Monthly Rent $2,345 - $2,395 ... 2 Beds, 2.5 Baths, 1,550 Sq. Ft. ... Built in 2012 31 units / 3 stories ... Last Updated: Today' (ForRent); '$2,475 - $2,495 2 Bed • 2 Bath • 1,550 Sq. Ft. • Available Now ... F $2,495 Available Now ... C $2,475 Available Now ... Rented Units ... Year Built: 2012 Total Unit Count: 31' (Rentable) Source note source note | ||||
 2138 N Buffum St Lower, Milwaukee, WI 53212 (Brewer's Hill) | 2BR/1BA | 1,200 SF | $1,625/mo | $1.35/SF/mo |
Sized against your units Between your units (1,200 SF): a renovated-quality signal Baths 1 bath (2BR/1BA) Lease and utilities Residential gross; sewer, trash and off-street parking included; 12-month lease, deposit $1,625. Availability Listed for rent September 10, 2026; available immediately. Inside Completely renovated lower unit: brand-new kitchen, quartz counters, private laundry (dishwasher, dryer, refrigerator, washer), central air, off-street parking, shared fenced yard and deck. From the source '$1,625/mo 2 Beds 1 Bath 1,200 sqft ... Be the first to enjoy this completely renovated two-bedroom, one-bath lower unit ... Available immediately for $1,625 per month' (Trulia); 'Price history ... 9/10/2026 Listed for rent $1,625 $1/sqft Source: Zillow Rentals' (Zillow) Source note source note | ||||
 2332 N Holton St #2332, Milwaukee, WI 53212 | 2BR/1BA | 1,105 SF | $1,590/mo | $1.44/SF/mo |
Sized against your units Your Apt 2 (1,105 SF vs 1,050 SF, +5.2%) Baths 1 bath (2BR/1BA) Lease and utilities Residential gross (tenant pays heat and electric). Availability Listed January 2026 at $1,590 and removed February 22, 2026 (44-day cycle). Inside Dishwasher, washer and dryer in the unit, balconies, attic access, painted front porch. From the source 'More recently, it was listed as a rental in January 2026 with an asking price of $1,590 per month. That rental listing was removed on February 22, 2026.' '2332 N Holton St #2332 ... 2 Beds 1 Bath 1,105 sqft' (Trulia) Source note source note | ||||
The tagged match names the subject unit each comp is sized against; the 1-bath comps sit below your units' 1.5+ bath cluster and never anchor the top of the range. Rents are asking rents unless the row says otherwise.
Market evidence · rents
Seven small-bay storefront records in Riverwest and on the Holton and Locust corridors: what leased, what asked, and on what terms. Each rate states its lease structure (gross, modified gross, or net) so it lines up with your three bays. Rows without a published rate are dated lease evidence.
| Property | Space | Rent per month | $/SF/yr | Suits the subject |
|---|---|---|---|---|
| 2600-2604 N Booth St Subject | 3 bays: 500 / 1,000 / 1,600 SF | $3,315/mo in place | $12.83/SF/yr | the subject bays themselves |
Bays Bakery 1,000 SF at $1,200/mo ($14.40/SF/yr) · acupuncture 1,600 SF at $1,350/mo ($10.12/SF/yr) · salon 500 SF at $765/mo ($18.36/SF/yr) Lease structure Modified gross (the bakery lease has the landlord paying taxes, insurance, common area costs, structural repairs, and sewer and water). Lease dates Bakery to November 30, 2026 · acupuncture to July 31, 2026 · salon to September 30, 2027 (rent roll, Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 68) Source note source note | ||||
| 2600-2604 N Booth St - PF Subject | 3 bays: 500 / 1,000 / 1,600 SF | $3,832/mo at market | $14.83/SF/yr | the subject bays themselves |
At market $45,980 a year ($3,832/mo) for the three bays (Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 86) Against today In place the three bring $3,315/mo. The acupuncture lease never repriced after the tenant expanded into 808 E Clarke St; the appraisal puts that bay's potential at $22,400 a year ($14.00/SF). Source note source note | ||||
| 512-514 E Center St (commercial storefront unit), Milwaukee, WI 53212 | about 984 SF | $960/mo in place | $11.71/SF/yr | Your bakery bay (1,000 SF, exact size match) |
Space Storefront unit about 41' x 24' (about 984 SF) in a 3,418 SF mixed-use building; a 3BR apartment above and a rear cottage. Rent $960/mo in-place commercial rent, published on the listing (about $11.71/SF/yr); the rear cottage rents separately at $780/mo. Lease structure In-place gross commercial rent. Dates and status On the market January 1, 2019 (LoopNet listing 14744921). The space Cream City brick mixed-use building with a storefront facing Center Street; originally built as a tavern; new furnace in the commercial space. From the source 'Check out this cream city brick mixed use building with a storefront facing Center street in Riverwest! ... a commercial storefront unit (approx 41'x24') ... Rear cottage is currently rented out at $780 a month. Commercial unit & 3br upper are currently being rented for $960 per unit. Same tenant in both units.' (LoopNet listing 14744921, Date on Market 1/1/2019) Source note source note | ||||
| 1927 E Locust St (retail/office), Milwaukee, WI 53212 | 6,132 SF building | - | - | Your salon and clinic bays (E Locust corridor lease demand) |
Space About 6,132 SF building (zoning RM-3); the retail bay split is not published. Rent Lease rate not published; signed lease only. Lease structure Retail and office space; the retail bay portion fits your shops. Dates and status Leased December 2023 (broker's transaction page). The space Retail and office use, about 6,132 SF, RM-3 zoning. From the source 'LEASED December 2023 - 1927 E. Locust Street, Milwaukee - USE: Retail/Office - BUILDING SIZE: +/- 6,132sf' (City Commercial Real Estate transaction page) Source note source note | ||||
 Riverworks Commons, 3901-3925 N Richards St (1,447 SF in-line unit), Milwaukee, WI 53212 | 1,447 SF | $1,688/mo NNN base | $20.37/SF/yr gross | Your acupuncture bay (1,447 SF); shows the net-to-gross spread against your modified-gross leases |
Space 1,447 SF in-line unit (former GameStop) in Riverworks Commons. Rent $14.00/SF/yr NNN base ($1,688/mo) plus $6.37/SF CAM, insurance and taxes = $20.37/SF/yr gross-equivalent ($2,458/mo all-in). Lease structure NNN base plus documented add-ons, shown gross-equivalent so it compares with your modified-gross leases. Dates and status Available immediately (listing live October 2026). The space Partially built out as standard retail space in the Riverworks Commons center. From the source '1,447 SF (Former Game Stop) Available Immediate Upon Contract $14.00 SF (NNN) Common Area Maintenance, Ins. Taxes $6.37 SF' (Bieck Management) Source note source note | ||||
| 2901 N Holton St (Holton & Locust corner storefront), Milwaukee, WI 53212 | 6,999 SF building | - | - | Your bakery and salon bays (small corner storefront, Holton corridor) |
Space Corner storefront in a 6,999 SF multi-tenant building (the specific bay size is not published). Rent Rate upon request (no rate published). Lease structure Storefront retail with residential above; separate utilities. Dates and status Off the market as of October 2026 (the listing is still displayed). The space Holton and Locust corner: high traffic, bus line, signalized intersection, signage; built 1918, building class C, LB2 zoning. From the source 'Storefront for rent in the Thriving River west Neighborhood. This space is located on the corner of Holton St and Locust St. Thousands of cars pass by daily. Separate utilities. Security system available.' (CityFeet) Source note source note | ||||
| Cafe Zagora (former Riverwest Co-op Grocery & Cafe), 733 E Clarke St, Milwaukee, WI 53212 | size not published | - | - | Your bakery bay (food service) |
Space The entire former Riverwest Co-op grocery and cafe space (bay size not published). Rent Lease rate not published; signed lease only. Lease structure Signed lease, terms not published. Dates and status Lease reported July 24, 2026; opening slated September 2026 (the prior co-op tenancy ended September 2025). The space Neighborhood cafe and small food service taking the former grocery and cafe storefront three blocks from your building. From the source 'Cafe Zagora is slated to open this September in the former Riverwest Co-op building on Clarke Street ... using the 733 E. Clarke St. storefront that housed the co-op and cafe for years ... will take over the entire former Riverwest Co-op space.' (Hoodline, 2026-07-24) Source note source note | ||||
| 3276-3278 N Holton St (Shannon'A'gans cafe + renovation hub), Milwaukee, WI 53212 | about 3,600 SF building | - | - | Your bakery bay (small food service, Holton corridor) |
Space Two-story building of about 3,600 SF; the ground-floor cafe portion fits your bakery bay (the bay split is not published). Rent Owner-occupied purchase with a $60,000 buildout (no lease rate). Lease structure Owner-occupied, not a lease. Dates and status Reported June 16, 2026; building dates to 1921. The space Ground-floor healthier cafe plus renovation hub on the Holton corridor. From the source 'turn a North Holton Street storefront into a neighborhood-focused cafe and renovation hub ... the ground floor would serve breakfast and lunch'; 'the city would sell the property to the partners for $60,000.' (UrbanMilwaukee, 2026-06-16) Source note source note | ||||
| KRS Hair & Wax Studio, E Locust St, Milwaukee, WI 53212 (exact number not published) | size not published | - | - | Your salon bay (personal care) |
Space Salon bay on E Locust Street (bay size not published). Rent No published rate; the new owner tripled the rent on turnover (2026). Lease structure Month-to-month holdover from a 2005 to 2026 tenancy. Dates and status Reported May 8, 2026; the building sold February 2026 and the tenancy ended May 31, 2026. The space Salon and personal care mainstay on Locust Street for almost 21 years, displaced by a rent reset after the building sale. From the source 'KRS Hair & Wax Studio has been a mainstay on Locust Street for almost 21 years ... We were not in a lease, so we were in kind of a month-to-month holdover. ... he tripled our rent. ... a notice of rental termination, listing their mandatory move-out date as May 31.' (CBS58, 2026-05-08) Source note source note | ||||
Rent per month is the quoted monthly rent; $/SF/yr is the yearly rate per square foot comparable across lease structures.
Market evidence · sales
Every study-area building sale of 2024 or later, from the county deed record. Your direct comps come first: mixed-use buildings that trade like yours (the Direct comp tag). Below them, the small apartment and retail trades that price each half of your building in the piece-by-piece valuation (the Small multifamily tag). GRM is the sale price divided by one full year of rent (the subject reads GRM 9.43 on in-place rent and 7.94 on market rent). Cap rate is the yearly return on the price after operating costs. Trades away from Riverwest carry their distance and neighborhood. Your own January 2026 trade sits in the table so the comparison stays honest.
| Property | Price/unit | Price/SF | GRM | Cap rate |
|---|---|---|---|---|
| 2600-2604 N Booth St Subject | $141,667/unit | $108.03/SF | 9.43 on in-place rent | 5.85% on in-place net income |
Bought 2026-01-26 for $850,000 (County deed #11572508 (Wisconsin real estate transfer record)) Per unit, per SF $141,667 per unit on 6 units · $108.03 per SF on 7,868 SF gross GRM 9.43 on in-place rent ($850,000 divided by $90,120 of yearly rent: apartments $50,340 + shops $39,780) Cap rate 5.85% on in-place net income (2025 net income of $49,725 per the owner's operating statement, Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, pp. 126+, over the $850,000 price) Source note source note | ||||
| 2600-2604 N Booth St - PF Subject | $141,667/unit | $108.03/SF | 7.94 on market rent | 7.20% on market net income |
GRM 7.94 on market rent ($850,000 divided by $107,120 of market rent: apartments $61,140 + shops $45,980) Cap rate 7.20% on market net income ($61,169 per the appraisal's pro forma, Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 98, over the $850,000 price) Source note source note | ||||
| 3272-3274 N Holton St Direct comp | - | $26.73/SF | - | - |
Rent This trade published no rent roll. Unit mix storefronts with apartments above Sources County deed #11631697 (Wisconsin real estate transfer record) · City of Milwaukee property record · source note From the records City of Milwaukee assessor property record: "3272-3274 N HOLTON ST | 1926 Store Bldg - Multi Story (Store & Apt, Store & Ofc) | 8/26/2026 $150,000" | ||||
| 3439-55 N Dr. Martin Luther King Jr Dr Direct comp | $80,000/unit | $38.82/SF | - | - |
Unit mix 4 units + 1 commercial (property record: 10 bedrooms total) Built 1915 Sources County deed #11613995 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 2830911000) · source note From the records City of Milwaukee property record: '3439-3455 N MARTIN L KING JR DR ... Store Bldg - Multi Story (Store & Apt, Store & Ofc Billboard ... 10,304 [Fin area] ... with 1 commercial unit(s) and 4 residential unit(s), ... 10 total bedroom(s) ... Sale Date 6/26/2026 Sale Price 400,000'. County deed: conv 06-26-2026, Doc 11613995, 'Y & K ENTERPRISES LLC -> DHILLON BROTHERS, LLC', $400,000.00. | ||||
| 905 E CENTER ST Direct comp | - | $10.31/SF | - | - |
Rent This trade published no rent roll. Unit mix One-story single-tenant store building with a residence Sources County deed #11587136 (Wisconsin real estate transfer record) · City of Milwaukee property record · source note From the records City of Milwaukee assessor property record: "905 E CENTER ST | 1885 Store Building - Single tenant, 1 story Cottage - commercial | 2026-03-20 $35,000" | ||||
 2800 W Lincoln Ave (2800-2802) Direct comp | $187,500/unit | $81.77/SF | 7.74 | 7.70% |
GRM Documented rent: $48,420 a year (documented scheduled rent at sale ($4,035/mo, bakery + residence)). GRM = $375,000 / $48,420 = 7.74. Cap rate implied at documented rent, 5% vacancy and a 37.2% operating-expense ratio (Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 95). That is $28,887 of net income / $375,000 = 7.70%. Unit mix turnkey bakery (~2,800 SF) + 3BR residence (building 4,586 SF) Built 1922 Sources County deed #11582013 (Wisconsin real estate transfer record) · City of Milwaukee property record · Zillow · Shorewest MLS #1944520 · source note From the records "2800-2802 WEST LINCOLN AVENUE" conveyance 02-27-2026, $375,000.00, GGN REI LLC -> VILLEGAS REALTY HOLDINGS LLC | Zillow: "Sold for $375,000." | ||||
| 2674 N Holton St (2674-2678) Direct comp | $42,000/unit | - | 9.72 | 6.14% |
GRM Documented rent: $21,600 a year (occupied rent roll at sale (2 of 3 apartments occupied; both storefronts vacant)). GRM = $210,000 / $21,600 = 9.72. Cap rate implied at documented occupied rent, 5% vacancy and a 37.2% operating-expense ratio (Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 95). That is $12,887 of net income / $210,000 = 6.14%. Unit mix 2 storefront commercial bays (vacant at sale) + 3 apartments (1BR vacant, 1BR $850, 2BR $950) Built 1923 Sources County deed #11577892 (Wisconsin real estate transfer record) · City of Milwaukee property record · Coldwell Banker · Shorewest MLS #1941012 · source note From the records "2674 N Holton St #2678, Milwaukee, WI 53212 (MLS# 1941012) is a Multi-Family property that was sold at $210,000 on February 17, 2026." (list $199,000 per the MLS print sheet) | ||||
| 807-815 W CLARKE ST Direct comp | - | $38.64/SF | - | - |
Sold Sold as an REO sale in December 2025, following a sheriff sale recorded September 8, 2025. Rent This trade published no rent roll. Unit mix 4 to 6 unit apartment building with a commercial space Sources County deed #11577991 (Wisconsin real estate transfer record) · City of Milwaukee property record · source note From the records City of Milwaukee assessor property record: "807-815 W CLARKE ST | 1926 AP1 (Conventional Apt with 4-6 Units) Cottage - commercial | 2026-01-22 $185,000" | ||||
| 426 E BURLEIGH ST Direct comp | - | $299.40/SF | - | - |
Rent This trade published no rent roll. Unit mix Service station with a convenience store Sources County deed #11571005 (Wisconsin real estate transfer record) · City of Milwaukee property record · source note From the records City of Milwaukee assessor property record: "426 E BURLEIGH ST | 2019 Svs Station w Conv Store | 2026-01-14 $900,000" | ||||
| 2034-36 N Dr. Martin Luther King Jr Dr Direct comp | $164,500/unit | $108.58/SF | - | - |
Unit mix 1x2BR + 1 commercial (~53% commercial) per the appraisal; the property recordcounts 2 commercial + 1 residential Built 1885 Sources County deed #11562152 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3530562100) · Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 40-41 · source note From the records City of Milwaukee property record: 'with 2 commercial unit(s) and 1 residential unit(s)' ... 'Sale Date 12/1/2025 Legal Reference 11562152 Sale Price 329,000 Grantor(Seller) JAMES P FETZER TRUST'. Appraisal: '2-story brick, 2-br apt over commercial ~53% (~1,600 SF commercial per broker)... The larger two-bedroom apartment is estimated to have rented for $1,500 per month around the time of sale.' | ||||
| 2670 N Holton St (2670-2672) Direct comp | $65,000/unit | $62.62/SF | - | - |
Rent This trade published no rent roll. Unit mix 2x2BR + 1 commercial (~50% commercial) per the appraisal; the property recordcounts 4 commercial + 1 residential Built 1923 Sources County deed #11563376 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3212352000) · Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 42-43 · source note From the records City of Milwaukee property record: 'with 4 commercial unit(s) and 1 residential unit(s)' ... 'Sale Date 11/25/2025 Legal Reference 11563376 Sale Price 195,000 Grantor(Seller) GREER REAL ESTATE LLC'. Appraisal: 'commercial ex-day care + two 2-br apts... Per the broker listing the two bedroom units were leased at $750 and $945 per month, gross.' | ||||
 800 E Chambers St Direct comp | $90,000/unit | $116.73/SF | 7.89 | 7.56% |
GRM Documented rent: $68,400 a year (unit rent table published with the listing (1x $1,300, 2x $850, 2x $950, 1x $800 = $5,700/mo)). GRM = $540,000 / $68,400 = 7.89. Cap rate implied at documented rents, 5% vacancy and a 37.2% operating-expense ratio (Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 95). That is $40,807 of net income / $540,000 = 7.56%. Unit mix 1 storefront commercial + 5 apartments (3BR, 2BR, 1BR, 1BR+den, studio); 4,626 SF, built 1905 Built 1905 Sources County deed #11521359 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 2811005000) · Shorewest MLS #1913298 · Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 46-47 · source note From the records City of Milwaukee property record: 'with 0 commercial unit(s) and 6 residential unit(s)' ... 'Sale Date 7/2/2025 Legal Reference 11521359 Sale Price 540,000 Grantor(Seller) SJM SQUARED PROPERTIES, LLC'. Appraisal: 'commercial + 5 apartments: studio, 2x1-br, 1x2-br, 1x3-br ~30% commercial... The apartment units are rather small.' | ||||
| 2616-2618 N Holton St Direct comp | - | $27.71/SF | - | - |
Rent This trade published no rent roll. Unit mix storefronts with apartments above Sources County deed #11518178 (Wisconsin real estate transfer record) · City of Milwaukee property record · source note From the records City of Milwaukee assessor property record: "2616-2618 N HOLTON ST | 1929 Store Bldg - Multi Story (Store & Apt, Store & Ofc) | 6/19/2025 $90,000" | ||||
| 909-919 W BURLEIGH ST Direct comp | - | $8.92/SF | - | - |
Rent This trade published no rent roll. Unit mix Multi-story store building (storefronts with apartments or offices) Sources County deed #11513695 (Wisconsin real estate transfer record) · City of Milwaukee property record · source note From the records City of Milwaukee assessor property record: "909-919 W BURLEIGH ST | 1909 Store Bldg - Multi Story (Store & Apt, Store & Ofc | 2025-06-09 $70,000" | ||||
| 430-432 E CHAMBERS ST Direct comp | - | $94.14/SF | - | - |
Rent This trade published no rent roll. Unit mix Multi-story store building (storefronts with apartments or offices) Sources County deed #11511149 (Wisconsin real estate transfer record) · City of Milwaukee property record · source note From the records City of Milwaukee assessor property record: "430-432 E CHAMBERS ST | 1916 Store Bldg - Multi Story (Store & Apt, Store & Ofc | 2025-06-02 $135,000" | ||||
| 1333-35 N Dr. Martin Luther King Jr Dr Direct comp | $225,000/unit | $130.36/SF | - | - |
Unit mix 1x1BR + 2 commercial (the property record) Built 1921 Sources County deed #11512121 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3610326000) · source note From the records City of Milwaukee property record: '1333-1335 N MARTIN L KING JR DR ... Store Bldg - Multi Story (Store & Apt, Store & Ofc ... 5,178 [Fin area] ... with 2 commercial unit(s) and 1 residential unit(s) ... Sale Date 5/27/2025 Sale Price 675,000'. County deed: conv 05-27-2025, Doc 11512121, 'CREAM CITY AQUATICS LLC -> 1333 MLK LLC', No relationship. | ||||
| 1947-49 N Dr. Martin Luther King Jr Dr Direct comp | $90,000/unit | $97.40/SF | - | - |
Unit mix 1x1BR + 1 commercial (~64% commercial) Built 1877 Sources County deed #11502526 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3530665000) · Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 38-39 · source note From the records City of Milwaukee property record: 'with 1 commercial unit(s) and 1 residential unit(s)' ... 'Sale Date 4/16/2025 Legal Reference 11502526 Sale Price 180,000 Grantor(Seller) L&C MGMT GROUP LLC'. Appraisal: 'The commercial unit is offered for lease at $36,000 per year and approximately $30.43 per square foot... The somewhat small one-bedroom apartment is estimated to rent for $800 per month.' | ||||
| 2342 N Weil St Direct comp | $121,250/unit | $98.28/SF | - | - |
Unit mix 4 units (property record: 4 to 6 unit apartment building, 8 bedrooms) Built 1924 Sources County deed #11494592 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3211129000) · source note From the records City of Milwaukee property record: '2342 N WEIL ST ... AP1 (Conventional Apt with 4-6 Units) ... 4,935 [Fin area] ... 0 commercial unit(s) and 4 residential unit(s)'. County deed: conv 03-26-2025, rec 03-27-2025, Doc 11494592, 'KOPACZ, GENE E. KOPACZ AND KAREN E. -> PURITAN LLC', No relationship, 4 units, $485,000.00. | ||||
| 2933-2935 N WEIL ST Direct comp | - | $147.36/SF | 8.60 | 6.94% |
GRM Documented rent: $75,300 a year (documented scheduled rent at listing ($6,275/mo plus coin laundry)). GRM = $647,500 / $75,300 = 8.60. Cap rate implied at documented rent, 5% vacancy and a 37.2% operating-expense ratio (Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 95). That is $44,924 of net income / $647,500 = 6.94%. Unit mix 4 to 6 unit apartment building with a commercial space Sources County deed #11460825 (Wisconsin real estate transfer record) · City of Milwaukee property record · Shorewest MLS #1887748 · source note From the records City of Milwaukee assessor property record: "2933-2935 N WEIL ST | 1903 AP1 (Conventional Apt with 4-6 Units) Cottage - commercial | 2024-10-18 $647,500" | ||||
| 3201 N Holton St (3201-3205) Direct comp | $83,333/unit | $76.55/SF | - | - |
Unit mix 1x3BR + 1x2BR + 1 commercial (1,000 SF commercial, 31%) per the appraisal; the property record(range 3201-3205) counts 6 commercial + 2 residential Built 1926 Sources County deed #11456341 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 2812310000) · Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 44-45 · source note From the records City of Milwaukee property record: '3201-3205 N HOLTON ST ... with 6 commercial unit(s) and 2 residential unit(s)' ... 'Sale Date 10/7/2024 Legal Reference 11456341 Sale Price 250,000 Grantor(Seller) SHVAAS LLC'. Appraisal: '1- and 2-story brick/frame, commercial 1,000 SF + 3-br + 2-br units = 31% commercial/69% apt... The two-bedroom apartment is estimated to have rented for $1,050 per month... the three-bedroom unit at $1,250 per month.' | ||||
| 830-832 E CLARKE ST Direct comp | - | $139.52/SF | - | - |
Rent This trade published no rent roll. Unit mix Multi-story store building (storefronts with apartments or offices) Sources County deed #11407628 (Wisconsin real estate transfer record) · City of Milwaukee property record · source note From the records City of Milwaukee assessor property record: "830-832 E CLARKE ST | 1913 Store Bldg - Multi Story (Store & Apt, Store & Ofc | 2024-03-20 $675,000" | ||||
| 3362-3384 N Dr. Martin Luther King Jr Dr Small multifamily | $37,752/unit | $21.45/SF | - | - |
Unit mix 24 units (subsidized housing, 60 bedrooms) Built 2010 Sources County deed #11631515 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 2822898000) · source note From the records City of Milwaukee property record: '3362-3384 N MARTIN L KING JR DR ... Subsidized/Affordable Housing ... 42,242 [Fin area] ... with 0 commercial unit(s) and 24 residential unit(s), ... 60 total bedroom(s) ... Sale Date 8/25/2026 Sale Price 906,100'. County deed: conv 08-25-2026, Doc 11631515, 'HEART AND HOPE APARTMENTS -> TE XXIII LLC', $906,044.00. | ||||
| 1018-1020 E Clarke St Small multifamily | $195,000/unit | $143.38/SF | - | - |
Unit mix 2 units (duplex; property record 5 bedrooms total) Built 1912 Sources County deed #11601261 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3212262000) · source note From the records City of Milwaukee property record: '1018-1020 E CLARKE ST ... Duplex O/S ... 2,720 [Fin area] ... 0 commercial unit(s) and 2 residential unit(s) ... Sale Date 5/7/2026 Sale Price 390,000'. County deed: conv 05-07-2026, Doc 11601261, '1018 E CLARKE WI LLC -> BARR, JACOB N.', 2 units. | ||||
| 2828 N Fratney St Small multifamily | $97,857/unit | $128.59/SF | - | - |
Unit mix 7 units (property record: 7 to 11 unit apartment building, 14 bedrooms) Built 1903 Sources County deed #11574375 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3140135000) · source note From the records City of Milwaukee property record: '2828 N FRATNEY ST ... AP2 (Conventional Apt with 7-11 Units) ... 5,327 [Fin area] ... 0 commercial unit(s) and 7 residential unit(s)'. County deed: conv 01-30-2026, Doc 11574375, 'HIGGINS INVESTMENTS LLC -> ECKES, JUSTIN', 7 units, $685,000.00. | ||||
| 2520 N Holton St Small multifamily | $52,500/unit | $37.10/SF | - | - |
Rent This trade published no rent roll. Unit mix 2x2BR (duplex) Built 1893 Sources County deed #11560959 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3211511000) · Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 58-59 · source note From the records City of Milwaukee property record: '2520 N HOLTON ST ... Duplex O/S ... 2,830 [Fin area] ... 0 commercial unit(s) and 2 residential unit(s) ... Sale Date 11/24/2025 Legal Reference 11560959 Sale Price 105,000 Grantor(Seller) YOSEF GOLDSTEIN'. Appraisal: 'The building sold in November 2025 for $105,000 and $52,500 per unit. The building was marketed as having deferred maintenance when sold.' | ||||
| 2220-2222 N Holton St Small multifamily | $107,500/unit | $86.55/SF | - | - |
Unit mix 2 units (duplex; property record 6 bedrooms total) Built 1900 Sources County deed #11555758 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3540034000) · source note From the records City of Milwaukee property record: '2220-2222 N HOLTON ST ... Duplex O/S ... 2,484 [Fin area] ... 0 commercial unit(s) and 2 residential unit(s) ... Sale Date 11/14/2025 Legal Reference 11555758 Sale Price 215,000 Grantor(Seller) V & A INVESTMENTS LLC'. | ||||
| 3042 N Palmer St Small multifamily | $41,278/unit | $50.13/SF | - | - |
Unit mix 9 units (property record: 7 to 11 unit apartment building, 10 bedrooms) Built 1954 Sources County deed #11557647 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3130808000) · source note From the records City of Milwaukee property record: '3042 N PALMER ST ... AP2 (Conventional Apt with 7-11 Units) ... 7,410 [Fin area] ... with 0 commercial unit(s) and 9 residential unit(s) ... Sale Date 10/20/2025 Legal Reference 11557647 Sale Price 371,500 Grantor(Seller) JO-WILL LLC'. | ||||
| 2138 N Buffum St Small multifamily | $162,500/unit | $123.25/SF | - | - |
Rent This trade published no rent roll. Unit mix 2 units (operated as a duplex; the property record: single 3BR ranch) Built 2004 Sources County deed #11542714 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3540137100) · Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 64-65 · source note From the records City of Milwaukee property record: '2138 N BUFFUM ST ... Ranch Res O/S A & 1/2 ... 2,637 [Fin area] ... 0 commercial unit(s) and 1 residential unit(s) ... Sale Date 9/22/2025 Legal Reference 11542714 Sale Price 325,000'. Appraisal: 'The building is listed by the assessor as a three-bedroom, two-bathroom single-family. The current landlord appears to operate the subject as a duplex... sold in September 2025 for $325,000 and $162,500 per unit.' | ||||
| 2330-2332 N Holton St Small multifamily | $120,500/unit | $110.05/SF | - | - |
Sold A March 2026 transfer-on-death retitle is also on the record (no sale); August 2025 remains the last market trade. Rent This trade published no rent roll. Unit mix 2x2BR (duplex) Built 1895 Sources County deed #11533330 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3211213000) · Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 62-63 · source note From the records City of Milwaukee property record: '2330-2332 N HOLTON ST ... Duplex O/S ... 2,190 [Fin area] ... 0 commercial unit(s) and 2 residential unit(s)'. County deed: '2330-2332 N. HOLTON STREET', $241,000.00, conv 08-22-2025, Doc 11533330, 'AB NORMAL 4 LLC -> BRANDOFINA, MARC', No relationship. Appraisal: 'Dishwasher, in-unit washer and dryer, balconies... The building sold in August 2025 for $241,000 and $120,500 per unit.' | ||||
| 823 E Clarke St Small multifamily | $84,250/unit | $96.29/SF | - | - |
Unit mix 2x2BR (duplex; the upper unit is 2BR/1BA) Built 1890 Sources County deed #11532681 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3210802000) · Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 56-57 · source note From the records City of Milwaukee property record: '823 E CLARKE ST ... Duplex O/S ... 1,750 [Fin area] ... Sale Date 8/12/2025 $168,500 ... Grantor(Seller) GRANDVIEW CAPITAL LLC' (Legal Reference 11532681). Appraisal: 'A 1.5-story sided duplex... Updated unit... The building sold in August 2025 for $168,500 and $84,250 per unit.' Rent: '$1,150' per month, 'The tenant pays electricity and heat.' | ||||
| 707 E Brady St Small multifamily | $250,000/unit | $151.45/SF | - | - |
Unit mix 2 units + 1 commercial (property record: 3 bedrooms total) Built 1890 Sources County deed #11528564 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3600001000) · source note From the records City of Milwaukee property record: '707 E BRADY ST ... Store Bldg - Multi Story (Store & Apt, Store & Ofc ... 4,952 [Fin area] ... with 1 commercial unit(s) and 2 residential unit(s) ... Sale Date 7/25/2025 Sale Price 750,000'. County deed: conv 07-30-2025, Doc 11528564, '707 EAST BRADY LLC -> NEXGEN VENTURES LLC', $750,000.00, 3 units. | ||||
| 905 E Clarke St Small multifamily | $113,750/unit | $128.31/SF | - | - |
Unit mix 4 units (property record: 4 to 6 unit apartment building, 7 bedrooms) Built 1890 Sources County deed #11520465 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3210538000) · source note From the records City of Milwaukee property record: '905 E CLARKE ST ... AP1 (Conventional Apt with 4-6 Units) ... 3,546 [Fin area] ... 0 commercial unit(s) and 4 residential unit(s) ... Sale Date 6/27/2025 Sale Price 455,000'. County deed: conv 07-02-2025, Doc 11520465, 'JAFFARI, SUHAIL -> BEATON, ANGELBERT', 4 units. | ||||
| 2859-2861 N Booth St Small multifamily | $143,333/unit | $121.85/SF | - | - |
Unit mix 2x2BR + 1 unit (duplex + house; the deed records 3 units) Built 1924 Sources County deed #11515899 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3140434000) · source note From the records City of Milwaukee property record: '2859-2861 N BOOTH ST ... Duplex O/S / Res O/S A & 1/2 ... 3,529 [Fin area] ... Card 1 of 2'. County deed: conv 06-10-2025, Doc 11515899, 'SAIGH, MYLES -> SCHNEIDER, RANDY', 3 units, $430,000.00. | ||||
| 3030-3032 N Fratney St Small multifamily | $85,000/unit | $116.60/SF | - | - |
Unit mix 5 units (property record: 4 to 6 unit apartment building, 8 bedrooms) Built 1908 Sources County deed #11508089 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 2811010000) · source note From the records City of Milwaukee property record: '3030-3032 N FRATNEY ST ... AP1 (Conventional Apt with 4-6 Units) ... 3,645 [Fin area] ... 0 commercial unit(s) and 5 residential unit(s) ... Sale Date 5/16/2025 Sale Price 425,000'. County deed: conv 05-16-2025, Doc 11508089, 'RIVERWEST HOLDINGS, LLC -> YELLOW LEAF PROPERTIES', 5 units. | ||||
| 531 E Keefe Ave Small multifamily | $110,000/unit | $61.95/SF | - | - |
Unit mix 4 commercial (office) Built 1926 Sources County deed #11502921 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 2812638111) · source note From the records City of Milwaukee property record: '531 E KEEFE AV ... Office Building - 1 Story ... 7,103 [Fin area] ... with 4 commercial unit(s) and 0 residential unit(s) ... Sale Date 5/1/2025 Sale Price 440,000'. | ||||
| 3045-3047 N Booth St Small multifamily | $199,950/unit | $140.37/SF | - | - |
Unit mix 2 units (duplex + house; property record 4 bedrooms total) Built 1907 Sources County deed #11500787 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3141139000) · source note From the records City of Milwaukee property record: '3045-3047 N BOOTH ST ... Duplex O/S / Res O/S A & 1/2 ... 2,849 [Fin area] ... 0 commercial unit(s) and 2 residential unit(s) ... Sale Date 4/11/2025 Sale Price 399,900'. County deed: conv 04-11-2025, Doc 11500787, 'SAIGH, MYLES -> SCHAAF, MATTHEW', 2 units. | ||||
| 2012-2014 N Palmer St Small multifamily | $202,500/unit | $167.91/SF | - | - |
Unit mix 4 units (triplex + house; the deed records 4 units) Built 1890 Sources County deed #11497316 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3530475100) · source note From the records City of Milwaukee property record: '2012-2014 N PALMER ST ... Triplex / Res O/S A & 1/2 ... 4,824 [Fin area] ... Card 1 of 2 ... Sale Date 3/21/2025 Sale Price 810,000 Grantor(Seller) L&C MANAGEMENT GROUP LLC'. County deed: conv 03-28-2025, Doc 11497316, 'L & C MANAGEMENT GROUP LLC -> TAHLIER, BRIAN', 4 units, $810,000.00. | ||||
| 2723-2725 N Booth St Small multifamily | $212,500/unit | $102.66/SF | - | - |
Unit mix 2 units (two duplex-style structures; the property record: 2 residential) Built 1914 Sources County deed #11490859 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3211784000) · source note From the records City of Milwaukee property record: '2723-2725 N BOOTH ST ... Duplex O/S / Duplex O/S ... 4,140 [Fin area] ... 0 commercial unit(s) and 2 residential unit(s) ... Card 1 of 2 ... Sale Date 2/20/2025 Sale Price 425,000'. County deed: conv 02-20-2025, Doc 11490859, '1126 KANE LLC -> COHEN, TIMOTHY', 2 units. | ||||
| 2730 N Dr. Martin Luther King Jr Dr Small multifamily | $850,000/unit | $124.16/SF | - | - |
Unit mix 1 commercial (grocery/medical clinic) Built 2002 Sources County deed #11483899 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3132342000) · source note From the records City of Milwaukee property record: '2730 N MARTIN L KING JR DR ... Medical Clinic ... 6,846 [Fin area] ... with 1 commercial unit(s) and 0 residential unit(s) ... Sale Date 2/2/2025 Sale Price 850,000 Grantor(Seller) KING'S FRESH MARKET'. | ||||
| 2213 N Dr. Martin Luther King Jr Dr Small multifamily | $323,000/unit | $107.67/SF | - | - |
Unit mix 2 commercial (restaurant) Built 1936 Sources County deed #11483301 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3530215000) · source note From the records City of Milwaukee property record: '2213 N MARTIN L KING JR DR ... Sit Down Restaurant ... 6,000 [Fin area] ... with 2 commercial unit(s) and 0 residential unit(s) ... Sale Date 1/31/2025 Sale Price 646,000'. | ||||
| 2568-2570 N Booth St Small multifamily | $207,500/unit | $173.06/SF | - | - |
Unit mix 2 units (duplex; property record 4 bedrooms total) Built 1896 Sources County deed #11482423 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3211480000) · source note From the records City of Milwaukee property record: '2568-2570 N BOOTH ST ... Duplex O/S ... 2,398 [Fin area] ... 0 commercial unit(s) and 2 residential unit(s) ... Sale Date 1/24/2025 Sale Price 415,000'. County deed: conv 01-24-2025, Doc 11482423, 'STAY ON TRACK LLC -> REMEDY HOME HEALTH CARE INC', 2 units. | ||||
| 2337 N Weil St Small multifamily | $75,000/unit | $92.88/SF | - | - |
Unit mix 8 units (property record: 7 to 11 unit apartment building, 8 bedrooms) Built 1929 Sources County deed #11430525 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3211141000) · source note From the records City of Milwaukee property record: '2337 N WEIL ST ... AP2 (Conventional Apt with 7-11 Units) ... 6,460 [Fin area] ... 0 commercial unit(s) and 8 residential unit(s) ... Sale Date 6/19/2024 Sale Price 600,000'. County deed: conv 06-20-2024, Doc 11430525, 'MICHAEL J. SCHRAMM -> EGC 2337 WEIL LLC', 8 units. | ||||
| 506-508 E Locust St Small multifamily | $314,000/unit | $258.01/SF | - | - |
Unit mix Duplex (2 units) per the property record; the deed describes 7 units. Built 1904 Sources County deed #11428975 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3140958100) · source note From the records City of Milwaukee property record: '506-508 E LOCUST ST ... Duplex O/S ... 2,434 [Fin area] ... 0 commercial unit(s) and 2 residential unit(s) ... Sale Date 6/12/2024 Sale Price 628,000'. County deed: conv 06-12-2024, Doc 11428975, '1126 KANE LLC -> 3478 DOWNER, LLC', 7 units, $628,000.00. | ||||
| 1225-1229 E Wright St Small multifamily | $104,167/unit | $164.39/SF | - | - |
Unit mix 6 units (property record: 4 to 6 unit apartment building, 10 bedrooms) Built 1910 Sources County deed #11414524 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3201225000) · source note From the records City of Milwaukee property record: '1225-1229 E WRIGHT ST ... AP1 (Conventional Apt with 4-6 Units) ... 3,802 [Fin area] ... 0 commercial unit(s) and 6 residential unit(s) ... Sale Date 4/22/2024 Sale Price 625,000'. County deed: conv 04-22-2024, Doc 11414524, 'BRU HOLDINGS, LLC -> 1225 E WRIGHT, LLC', No relationship, $625,000.00. | ||||
| 2636-2638 N Weil St Small multifamily | $91,000/unit | $131.96/SF | - | - |
Unit mix 5 units (property record: 4 to 6 unit apartment building, 8 bedrooms) Built 1900 Sources County deed #11408230 (Wisconsin real estate transfer record) · City of Milwaukee property record (account 3211909000) · source note From the records City of Milwaukee property record: '2636-2638 N WEIL ST ... AP1 (Conventional Apt with 4-6 Units) ... 3,448 [Fin area] ... 0 commercial unit(s) and 5 residential unit(s) ... Sale Date 3/25/2024 Sale Price 455,000'. County deed: conv 03-25-2024, Doc 11408230, 'FPNG PROPERTY MANAGEMENT LLC -> 948 MEMORIAL DRIVE LLC', 2 units, $455,000.00 (a 2022 sale of the same building listed 5 units). | ||||
Prices and dates are the recorded deed figures. GRM appears only where the trade published a rent roll; cap rates are implied at that documented rent, less 5% vacancy and 37.2% operating costs (Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 95). Transfers that were not market sales sit in the appendix, out of the table.
Valuation
2600-2604 N Booth St is really two businesses under one roof: three apartments and three shops. Apartments and shops sell at different rates, so the fair way to price the building is to price each half with its own kind of trade, then add the two answers together.
Apartments: $61,140 a year (Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 69). Shops: $45,980 a year (Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 86). Together: $107,120 a year.
Four recent sales with published rent rolls set the band:
Applying that band to the apartments' $61,140 of market rent: low $473,224 at 7.74 times, middle $519,690 at 8.5 times, high $594,281 at 9.72 times. The upper two include those mixed buildings' storefront income inside the multiplier, so they lean generous for a pure apartment half. That is why the middle of the band is used.
Small Milwaukee mixed-use and retail trades of 2025 and 2026 change hands at 6.6% to 8.5% returns on their documented income. After market operating costs for this kind of building (37.2% of rent, Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, p. 95) and a 5% vacancy allowance, the shops' $45,980 of rent supports $27,432 of net income: at an 8.5% return $322,726, at 7.5% $365,756, and at the 7.2% return the appraisal concluded (Appraisal for 2600-2604 N Booth St (Steven Lingeman, MAI), effective 1/12/2026, pp. 84-87) $380,995.
| Half | Low | Middle | High |
|---|---|---|---|
| Apartments | $473,224 | $519,690 | $594,281 |
| Shops | $322,726 | $365,756 | $380,995 |
| Whole building | $795,949 | $885,446 | $975,276 |
The purchase was $850,000, which sits inside that range and just under the middle.
Whole-building multiples. Mixed buildings with a similar shop-to-apartment split changed hands at 7.74 to 9.72 times rent. On the building's $107,120 of market rent that is $829,109 to $1,041,206, middle $910,520.
Straight return. Net income of $63,908 at the 7.2% to 8.5% return band is $751,856 to $887,608.
All three routes land in the same neighborhood, roughly $751,856 to $1,041,206. Nothing in the range depends on a trade older than 2024.
Where you stand
You paid $850,000 on 2026-01-26 ($141,667 per unit, $108.03 per SF). Priced piece by piece at market rents, the building works out to $795,949 to $975,276 with a middle of $885,446, and the two cross-checks agree ($751,856 to $1,041,206). On today's rent you bought at GRM 9.43; on market rent, GRM 7.94. Recent mixed-use trades ran 7.74 to 9.72 times rent, so both of your numbers sit inside the market.
Value, piece by piece
Apartments at 7.74 to 9.72 times rent plus shops at a 7.2% to 8.5% return.
At market rents the building grosses $107,120 a year. In place it grosses $90,120 (apartments $50,340, shops $39,780). The gap is $17,000 a year: $10,800 on the apartments (Apt 1 and Apt 3 sit below market) and $6,200 on the shops (the acupuncture lease never repriced after the tenant expanded into 808 E Clarke St; that bay's potential is $22,400 a year at $14.00 per SF). Closing the gap is worth about $139,000 of value ($91,800 on the apartments at 8.5 times rent, $47,160 on the shops at a 7.85% return).
The timing is in the leases: the bakery lease runs to November 30, 2026, the acupuncture lease to July 31, 2026, and the salon to September 30, 2027. The first two re-leases are the chance to price to market without turning a tenant over.
The building's condition is settled and strong: tall ceilings, rooftop decks on the two upper apartments, in-unit washer and dryer plus dishwasher in every apartment, and parking for about four cars off the alley. The gap is between what the units earn and what the evidence says they can earn, so the work that pays is the rent roll, not the exit.
Where everything sits
MapLibre GL on OpenFreeMap Liberty. Pin coordinates geocoded from the documented addresses (OpenStreetMap contributors, Nominatim); 57 pins: the subject plus 56 of 57 comp addresses (1 comp without a published street number to plot). Basemap (c) OpenFreeMap, OpenMapTiles, OpenStreetMap contributors.
Appendix
Three groups of records informed the study but are not market comps for your building. They are kept here, labeled, so nothing is hidden and nothing distorts the tables above.
These changed hands on paper, not on the market. None is a priced trade:
Just below the seven comps above; useful as brackets, not as anchors:
Neighborhood retail records outside the Riverwest small-bay set, each with its reason:
Every figure on this site links to its source note: source notes.