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. photo source
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. photo source
Where you stand (short version)
You paid $850,000 (GRM 7.94 on market rent, GRM 9.43 on today's rent). All three valuation legs land on your trade within roughly 2%, and the upside case is the case: the units are in great shape, the building is fully leased, and the rents are simply below market. The work that pays is the rent roll, not the exit. Full verdict, method, and evidence below.
The property in pictures (29 photos recovered from the 2025 sale listing)
SF basis note: SF basis = assessor GBA/Fin area 7,868 SF (appraiser GBA agrees) -> $108.03/SF. Appraiser NRA is 7,011 SF total (commercial 3,100 + apartments 3,911) -> $121.24/SF on NRA; GBA vs NRA changes the per-SF figure and both are shown wherever it appears. plan-v2.md's '$131.5/SF building-SF basis' is not reproducible from documented SF (7,868 or 7,011) and is NOT used (P1c flag carried). source note
Sourcing labels: porches are OWNER-WALK testimony (Jan 2026: “some even have a porch”), not appraisal text (zero mentions). Apt 2 baths = 2.5BA (NRA table p.35) vs 1.5BA (rent roll p.68), an appraisal conflict, preserved (both keep Apt 2 in the 1.5+ bath cluster).
Market evidence · rents
Seven adjudicated comps (duplex and small multifamily, 2 to 6 units), tagged to the matching subject unit and bath cluster, with the subject as an actual / pro forma pair. Click any column header to sort; open a row's Details for amenities, condition, and listing history (what separates a comp from an asking number).
| Property | Unit | SF | Rent per month | Rent $/SF | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2600-2604 N Booth St (subject) | 3x 2BR (Apt 1 1,440 SF 2BR/2BA; Apt 2 1,050 SF 2BR/2.5BA per NRA p.35 but 2BR/1.5BA per the p.68 rent roll (appraisal conflict, preserved); Apt 3 1,421 SF 2BR/2BA) | avg 1,304 SF | avg $1,398/mo | $1.07/SF/mo | |||||||
Bath cluster 1.5+ cluster (2-2.5BA) Size match the subject itself Listing history fully leased; remodeled Apt 2 2024 Sources source note Subject facts In place: 3x 2BR averaging 1,304 SF at $1,398/mo ($1.07/SF). Amenities (appraisal p.36): in-unit W/D + dishwasher in ALL apts, rooftop decks on 2nd/3rd floor apts, tall ceilings including the top-floor cathedral ceiling, parking for about 4 cars off the alley, finishes generally updated. Porches: OWNER-WALK testimony (Jan 2026, 'some even have a porch'), NOT appraisal text (zero mentions). Sourcing labels: Apt 2 baths 2.5BA (NRA table p.35) vs 1.5BA (rent roll p.68) conflict preserved; both keep Apt 2 in the 1.5+ cluster. | |||||||||||
| 2600-2604 N Booth St - PF | same 3x 2BR at adjudicated market rents | avg 1,304 SF | avg $1,704/mo | $1.31/SF/mo | |||||||
Bath cluster 1.5+ cluster (2-2.5BA) Size match the subject itself Listing history pro forma at market Sources source note Subject facts Pro forma at market rents (comps-final): approx $5,112/mo total, avg $1,704/mo, about $1.31/SF. | |||||||||||
| 2105 N Booth St Unit 1 | 2BR/1BA (unit 2105-1) | 1,000 SF | $1,799/mo | $1.80/SF/mo | |||||||
Why it fits SAME STREET, 4 blocks; 2BR size match to Apt 2 (1,050 SF), fresh 2026. PEER AMENITIES (subject also has in-unit W/D + dishwasher, appraisal p.36): full gut remodel, wood plank, central A/C, in-unit W/D, granite, stainless, marble shower, garage; sets the rent CEILING on finish level Bath cluster 1.0BA cluster (lower cluster, does not anchor the subject) Size match (per unit, +/-10%) Apt 2 band (945-1,155 SF), 1,000 SF = -4.8% Listing history no evidence found (2026-10-06) Amenities wood plank flooring, central A/C, in-unit washer/dryer, granite counters, stainless GE appliances incl. dishwasher, marble shower, walk-in closet, garage parking available, shared balcony, storage locker, pet friendly Condition fully remodeled ('Luxurious & Elegant Remodeled 2 Bedroom') Heat / occupancy trash collection included; heat/electric no evidence found (2026-10-06) · 1 unit available (2026-10-06) Tags Apt 2 band (945-1,155 SF), 1,000 SF = -4.8% · 1.0BA cluster (lower cluster, does not anchor the subject) · SAME STREET (4 blocks) · rent ceiling on finish level Verbatim evidence 2 beds (1) 2 Beds • 1 Bath $1,799 1000 ft ² 1 Available Managed By: Huettner Properties Sources source note live | |||||||||||
| 2204 N Booth St Lower | 2BR/1.5BA lower | 1,300 SF | $1,950/mo | $1.50/SF/mo | |||||||
Why it fits SAME STREET; closest size to Apt 1/3 (1,421-1,440 SF). PEER AMENITIES (subject also has in-unit W/D + dishwasher + rooftop decks on 2nd/3rd fl apts): hardwood, central A/C, in-unit W/D, dishwasher, garage + parking, park views (1 month free = $1,787.50 effective) Bath cluster 1.5+BA cluster Size match (per unit, +/-10%) Apt 1/3 band (1,280-1,585 SF), 1,300 SF = -8.5% vs Apt 3 / -9.7% vs Apt 1 Listing history undated (before 2026-10-06): Zumper search-index snippet read $1,895/mo; page read $1,950/mo on 2026-10-06 Amenities hardwood floors, central A/C, in-unit washer/dryer, dishwasher, microwave, garage space + off-street parking, large kitchen, next to park, 1 month free concession Condition 'Spacious 2BR Riverwest Apartment with Park Views, Garage & Central A/C'; effective rent with 1 month free = $1,787.50/mo ($1.37/SF) Heat / occupancy garbage, water, sewage included (CollegeRentals 'Other'); heat/electric no evidence found (2026-10-06) · available now (2-unit building; 1 listed) Tags Apt 1/3 band (1,280-1,585 SF), 1,300 SF = -8.5% vs Apt 3 / -9.7% vs Apt 1 · 1.5+BA cluster · SAME STREET Verbatim evidence 1ST MONTH FREE! | Spacious 2BR Riverwest Apartment with Park Views, Garage & Central A/C | 2 Bedrooms ... $1,950 | 1300 Sq Ft | Available Now Sources source note live | |||||||||||
| 2822 N Fratney St #A | 2BR/1BA lower (remodeled) | 905 SF | $1,500-$1,545/mo | $1.66-$1.71/SF/mo | |||||||
Why it fits QUALITY MATCH: remodeled kitchen + bath, hardwood in all rooms, storage, fenced yard, garage parking in locked garage; Riverwest, fresh 2026 Bath cluster 1.0BA cluster (lower cluster, does not anchor the subject) Size match (per unit, +/-10%) CROSS-BRACKET (905 SF = -13.8% vs Apt 2) Listing history no longer available as of 2026-10-06 (date not shown); Zumper rent history: rented 6 years ago at $1,500/mo; undated 2026: Zumper title $1,500/mo -> ForRent $1,545 'Total Monthly Price' (Last Updated: 2 Wks Ago) Amenities remodeled kitchen and bathroom, hardwood floors in living/dining/both bedrooms, storage, fenced back yard, free parking space in locked garage Condition 'Remodeled 2 bedroom lower near UWM' Heat / occupancy garbage, water, lawn care, snow removal included; baseboard heat; utilities fee required (Zillow) · leased/pending as of 2026-10-06 (ForRent: 'Check Back Soon for Upcoming Availability') Tags CROSS-BRACKET (905 SF = -13.8% vs Apt 2) · 1.0BA cluster (lower cluster, does not anchor the subject) · Riverwest Verbatim evidence $1,545 Total Monthly Price ... Last Updated: 2 Wks Ago ... Check Back Soon for Upcoming Availability. Sources source note live | |||||||||||
| 914 E Townsend St Upper | 2BR/1BA upper | 1,150 SF | $1,400/mo | $1.22/SF/mo | |||||||
Why it fits QUALITY MATCH: newly refinished hardwood, remodeled kitchen (new cabinets/stove/dishwasher/microwave), fresh paint; leased in 6 DOM (strongest demand proof); size between Apt 2 and Apt 1/3 Bath cluster 1.0BA cluster (lower cluster, does not anchor the subject) Size match (per unit, +/-10%) Apt 2 band edge (1,150 SF = +9.5%), sits between Apt 2 and Apt 1/3 Listing history 2026-09-30; DOM 6 Amenities newly refinished hardwood floors, fresh paint, remodeled kitchen with new cabinets/stove/dishwasher/microwave, pantry, linen closet, washer/dryer in basement, large front porch, small rear porch, street parking Condition 'Beautiful large Riverwest apartment. Newly refinished hardwood floors, fresh paint, remodeled kitchen' Heat / occupancy owner pays water, trash, recycling (Zillow); tenant heat/electric no evidence found (2026-10-06) · active 2026-10-06 Tags Apt 2 band edge (1,150 SF = +9.5%), sits between Apt 2 and Apt 1/3 · 1.0BA cluster (lower cluster, does not anchor the subject) · leased in 6 DOM (strongest demand proof) Verbatim evidence Price history | 9/30/2026 | Listed for rent | $1,400 $1/sqft Sources source note live | |||||||||||
| Row House 31, 2650 N Humboldt Ave | 2BR/2.5BA (31-unit complex) | 1,550 SF | $2,475/mo | $1.60/SF/mo | |||||||
Why it fits 1.5+ BATH CLUSTER CEILING BRACKET (audit swap 2026-10-06): 2BR/2.5BA = subject's exact bath config, 1,550 SF (+7.6% vs Apt 1), in-unit W/D + dishwasher + balconies. Appraiser's own rent comp #6. LABEL: 31-unit 2013 complex = NEW-BUILD CEILING, not a small-building peer ($2,475 = 47% above subject rent levels; prices where 2.5BA product goes new) Bath cluster 1.5+BA CEILING BRACKET (2BR/2.5BA = the subject's exact bath config) Size match (per unit, +/-10%) Apt 1/3 band edge (1,550 SF = +7.6% vs Apt 1) Listing history historical (verified Jan 2026 by appraiser) Amenities dishwasher, in-unit washer and dryer, balconies or patios, ground-floor garage Condition 'Four three-story sided apartment buildings… ground floor/street level is garage space' (appraisal p.66-67) Heat / occupancy tenant pays electricity and heat (appraisal) · 30 of 31 occupied Jan 2026 (appraisal) Tags Apt 1/3 band edge (1,550 SF = +7.6% vs Apt 1) · 1.5+BA CEILING BRACKET (2BR/2.5BA = the subject's exact bath config) · NEW-BUILD CEILING (31-unit, 2013), not a small-building peer · appraiser's own rent comp #6 Verbatim evidence Four three-story sided apartment buildings… ground floor/street level is garage space… Dishwasher, in-unit washer and dryer, balconies or patios. (appraisal p.66-67) Sources source note (local documentary source) local: /Users/markkvetkovskiy/Projects/jay-booth-st-study/data/appraisal-extract.md | |||||||||||
| 2138 N Buffum St Lower | 2BR/1BA lower (two-unit property) | 1,200 SF | $1,625/mo | $1.35/SF/mo | |||||||
Why it fits two-unit property (exact class) + QUALITY MATCH to renovated units: completely renovated, vinyl plank, central air, private in-unit laundry, quartz + stainless, oversized pantry; Brewers Hill, fresh Sept 2026 Bath cluster 1.0BA cluster (lower cluster, does not anchor the subject) Size match (per unit, +/-10%) CROSS-BRACKET (1,200 SF = +14% vs Apt 2, -16% vs Apt 1/3) Listing history 2026-09-10; DOM 26; appraisal seed (Jan 2026): same lower unit offered at $2,000/mo on 1,252 SF ($1.59/SF); fresh 2026 listing at $1,625 on ~1,200 SF Amenities completely renovated, new vinyl plank flooring, central air, private in-unit laundry, quartz counters, stainless appliances, dishwasher, oversized pantry with barn door, double-sink vanity, tiled shower, off-street parking, shared fenced yard and deck, pets welcome Condition 'Be the first to enjoy this completely renovated two-bedroom, one-bath lower unit'; Zillow sale history: listed for sale 7/12/2025 $446,900, removed 9/26/2025 $420,000 Heat / occupancy sewer and trash included; off-street parking included (listing); heat/electric no evidence found (2026-10-06) · active 2026-10-06 (two-unit property, 1 unit for rent) Tags CROSS-BRACKET (1,200 SF = +14% vs Apt 2, -16% vs Apt 1/3) · 1.0BA cluster (lower cluster, does not anchor the subject) · two-unit property (exact class) Verbatim evidence Be the first to enjoy this completely renovated two-bedroom, one-bath lower unit offering approximately 1,200 square feet ... Available immediately for $1,625 per month ... this two-unit property Sources source note live | |||||||||||
| 2332 N Holton St #2332 | 2BR/1BA upper (5-unit building) | 1,105 SF | $1,590/mo | $1.44/SF/mo | |||||||
Why it fits 5-unit building (class) + PORCH + balcony (amenity match to subject's porches), in-unit W/D, dishwasher, 1895 vintage character = quality match; full 2026 cycle documented Bath cluster 1.0BA cluster (lower cluster, does not anchor the subject) Size match (per unit, +/-10%) Apt 2 band (1,105 SF = +5.2%) Listing history 2026-01-09; DOM 44; 2026-02-22; none (no price change events between listing and removal) Amenities dishwasher, in-unit washer and dryer, balconies, access to attic, painted front porch Condition 'Dishwasher, in-unit washer and dryer, balconies, access to attic.' (appraisal); Trulia Estimate rent $1,206 Heat / occupancy tenant pays electricity and heat (appraisal, Jan 2026) · listing removed 2026-02-22 (leased or withdrawn, not stated) Tags Apt 2 band (1,105 SF = +5.2%) · 1.0BA cluster (lower cluster, does not anchor the subject) · 5-unit building (class) · PORCH + balcony (amenity match to the subject's porches: owner-walk testimony Jan 2026, not appraisal text) Verbatim evidence 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. Sources source note live | |||||||||||
9 rows: subject actual + subject pro forma + 7 comps. Size tags weigh each comp against one subject unit (owner: one blended band is too wide); 1.0BA rows are the lower cluster and never anchor the subject. Bath cluster, size match, listing history, and sources sit in each row's Details drawer. First alternate (in data/, not a comp row): 2611 N Humboldt Blvd (audit tie 23/30 with Row House 31; exact size + vintage character, loses only on 1.0BA + 3BR). Porches on the subject = owner-walk testimony (Jan 2026), not appraisal text. Gaps read the check date.
Market evidence · rents
Seven adjudicated neighborhood retail and service comps, tagged to the matching subject bay (salon 500 SF, bakery 1,000 SF, acupuncture 1,050 to 1,600 SF), with lease structure spelled out so net and gross quotes are comparable.
| Property | SF | Asking $/SF/yr | Asking $/mo | Bay match | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2600-2604 N Booth St (subject) | 3 bays: 500 / 1,000 / 1,600 SF (2,550 SF rent-roll SF) | $1.30/SF avg | $3,315/mo | the subject bays themselves (salon 500, bakery 1,000, acupuncture 1,050-1,600) | |||||||
Lease structure modified gross (2604 N Booth bakery lease: landlord pays taxes, insurance, CAM, structural repairs, sewer/water) Corridor / traffic Holton/Booth corridor Sources source note Subject facts In place: 3 bays (bakery 1,000 SF food-service, acupuncture 1,050 to 1,600 SF health services, salon 500 SF personal care) at $3,315/mo ($1.30/SF avg on 2,550 SF rent-roll SF). DETAIL DRAWER FLAG: bakery lease expiry 11/30/2026 (the nearest re-lease event). | |||||||||||
| 2600-2604 N Booth St - PF | 3 bays: 500 / 1,000 / 1,600 SF (2,550 SF rent-roll SF) | approx $1.50/SF avg (derived: market rent / 2,550 SF) | approx $3,832/mo | the subject bays themselves | |||||||
Lease structure modified gross Corridor / traffic Holton/Booth corridor Sources source note Subject facts Pro forma at market rents (comps-final): approx $3,832/mo. | |||||||||||
| 3203 N Holton St | 1,000 SF | $16.80/SF/yr | $1,400/mo | bakery bay (900-1,100 SF), exact 1,000 SF match | |||||||
Why it fits SUBJECT'S OWN HOLTON CORRIDOR; exact bakery-bay size (1,000 SF); P1k documented upgrade ($1,400/mo, verified 2026-10-06); historical Dec-2024 label; appraiser's own commercial comp #1 Bay match bakery bay (900-1,100 SF), exact 1,000 SF match Tags bakery bay (900-1,100 SF), exact 1,000 SF match · SUBJECT'S OWN HOLTON CORRIDOR · P1k documented upgrade · HISTORICAL label: Dec-2024 asking (Craigslist via appraisal); no fresh 2026 listing (2026-10-06) Lease structure net + $0.60 CAM (~$17.40 gross-equiv) · add-ons $0.60/SF Traffic tier Medium (derived from documented AADT) Foot traffic (documented) Holton St commercial strip (MCTS Route 15 'Holton - Kinnickinnic', ridemcts.com/routes-schedules/15); no specific source pedestrian claim (2026-10-06). Frontage / visibility Holton St corridor (9,600-10,000 AADT); appraiser: the rental comps 'are along more heavily traveled roadways than the subject roadways'. Neighborhood Harambee / Riverwest edge (53212) Condition 1926 building, 3,266 SF (appraisal). Verbatim evidence 'Net rent. The tenant pays utilities and a separate $50 monthly common area maintenance (CAM) charge. The landlord pays real property taxes and insurance.' Asking '$16.80' per SF (appraisal). Sources source note (local documentary source) local: data/appraisal-extract.md (appraisal PDF pp.72-73; original source Craigslist.com | |||||||||||
| 3575 N Oakland Ave (Sheridan Apartments ground floor) | 1,130 SF | $18.00/SF/yr | $1,695/mo | acupuncture bay (945-1,760 SF) | |||||||
Why it fits SUBJECT-CLASS CO-TENANTS (Beu Face & Body Lounge = personal care; Tenderness Heath Care = health services = salon + acupuncture user classes); 44 apts above = subject-like mixed-use; live 2026 Bay match acupuncture bay (945-1,760 SF) Tags acupuncture bay (945-1,760 SF) · subject-class co-tenants (personal care + health services) · Shorewood geography (bracket) Lease structure mod gross · add-ons $0.00/SF Traffic tier Medium (derived from documented AADT) Foot traffic (documented) Oakland Ave arterial (13,300-14,500 AADT); 44 apartments above = built-in footfall (listing). Frontage / visibility 'The first floor retail space at the Sheridan Apartment Complex offers not only a great location, but great visibility for your business to call home' (listing). Neighborhood Shorewood (53211) Condition 'This mixed-use building has 44 apartment units'; ground-floor retail 7,344 SF leased to McCade Insurance Agency, Exercise Coach, Beu Face & Body Lounge, and Tenderness Heath Care (listing). Verbatim evidence '$18/SF/Yr' '1,130 SF' 'AVAILABLE, Now' 'Added: Dec 11, 2025' (realmo listing, live 2026-10-06); appraisal: '$18.00' 'Modified gross rent. The tenant pays utilities and the landlord pays real property taxes, insurance and maintenance.' Sources source note live local: data/appraisal-extract.md (appraisal PDF pp.76-77 | |||||||||||
| 5316 W Vliet St | 1,100 SF | $19.64/SF/yr | $1,800/mo | bakery band top edge (1,100 SF) and acupuncture bay | |||||||
Why it fits HEALTH/WELLNESS USER (former yoga studio = acupuncture-class); P1k documented upgrade ($1,800.33/mo); historical May-2025 label; west-side geography tagged Bay match bakery band top edge (1,100 SF) and acupuncture bay Tags bakery band top edge (1,100 SF) and acupuncture bay · health/wellness user history (yoga studio = acupuncture class) · P1k documented upgrade · HISTORICAL label: May-2025 asking (Shorewest via appraisal); mirrors dead 2026-10-06 (leased/removed signal) · west-side geography (bracket) Lease structure mod gross · add-ons $0.00/SF Traffic tier Low (derived from documented AADT) Foot traffic (documented) Vliet St commercial strip (Wick Field area); no source pedestrian claim (2026-10-06). Frontage / visibility W Vliet St corridor (3,700-7,300 AADT at 3 stations). Neighborhood Wick Field (53208) Condition 'previously used a yoga studio' (MLS listing text). Verbatim evidence 'Modified gross rent. The tenant pays utilities and the landlord pays real property taxes, insurance, and common area maintenance.' '$19.64' (appraisal). MLS 1911644 mirror text: 'The main level is also available for lease for an additional $1,800 ... previously used a yoga studio' ($1,800/mo x 12 / 1,100 SF = $19.64 derived). Sources source note (local documentary source) local: data/appraisal-extract.md (appraisal PDF pp.74-75; original source Shorewest.com; live mirrors: realty.com MLS# 1911644 (403 to fetch), primerealtywi.com (404 on 2026-10-06 | |||||||||||
| Riverworks Commons, 3901-3925 N Richards St | 1,447 SF | $20.37/SF/yr | $2,456/mo | acupuncture bay (1,447 SF) | |||||||
Why it fits size match to acupuncture bay (1,447 SF); DOCUMENTS the NNN-to-gross spread (useful for comparing to the subject's modified-gross leases); fresh Sept-2026 Bay match acupuncture bay (1,447 SF) Tags acupuncture bay (1,447 SF) · documents the NNN-to-gross spread · fresh Sept-2026 Lease structure NNN $14.00 + $6.37 documented add-ons = $20.37 gross-equiv · add-ons $6.37/SF Traffic tier Low (derived from documented AADT) Foot traffic (documented) Inside the Riverworks Business Improvement District (Bieck Management page); Capitol Dr arterial (23,800-26,600 AADT) two blocks north. MCTS Capitol Dr service per ridemcts.com. Frontage / visibility In-line shop in 21,000-21,336 SF Riverworks Commons center off Capitol Dr/Richards St; 'Partially Built-Out as Standard Retail Space' (LoopNet). Neighborhood Williamsburg Heights / Riverwest edge (53212) Condition 2003-built center; space 'Partially Built-Out as Standard Retail Space' (LoopNet). Verbatim evidence '$14.00 /SF/YR' 'Triple Net (NNN)' 'Lease rate does not include utilities, property expenses or building services' (LoopNet, Date on Market: 11/21/2025, Last Updated: 9/23/2026); '$14.00 SF (NNN)' 'Common Area Maintenance, Ins. Taxes $6.37 SF' (Bieck). Sources source note live | |||||||||||
| 1725A S 12th St | 1,000 SF | $11.70/SF/yr | $975/mo | bakery bay (1,000 SF exact) at all-in gross = low bound of the band | |||||||
Why it fits EXACT bakery-bay size at all-in gross = the low bound of the band; fresh 2026; TAGGED: south-side submarket (bounds, not sets) Bay match bakery bay (1,000 SF exact) at all-in gross = low bound of the band Tags bakery bay (1,000 SF exact) at all-in gross = low bound of the band · TAGGED: south-side submarket (bounds, not sets) · fresh 2026 Lease structure gross all-in incl. CAM · add-ons $0.00/SF Traffic tier Low (derived from documented AADT) Foot traffic (documented) 'a busy street with lots of foot traffic ... next to a busy laundromat' (listing's own words); Historic Mitchell Street retail district. Frontage / visibility 'located on a busy street with lots of foot traffic as it is located next to a busy laundromat' (Sidello Property listing). Neighborhood Historic Mitchell Street / near south side (53204) Condition 'Tile Flooring Air Conditioning Large open spa[ce]' (listing). Verbatim evidence 'This 1000 square foot spacious property is located on a busy street with lots of foot traffic as it is located next to a busy laundromat.' 'Rent: $975.00' 'CAM Fees Included With Rent' (Sidello Property Services, page live 2026-10-06, 'Available Mid November!'). Sources source note live | |||||||||||
| 7911 W Becher St | 900 SF | $14.67/SF/yr | $1,100/mo | bakery bay (900 SF) | |||||||
Why it fits OLD-BUILDING STOREFRONT analog (1927 building) to the subject's 1880 stock; small-shop bay 900 SF; TAGGED: West Allis border (bracket) Bay match bakery bay (900 SF) Tags bakery bay (900 SF) · old-building storefront analog (1927 building vs the subject's 1880 stock) · TAGGED: West Allis border (bracket) Lease structure mod gross Traffic tier Low (derived from documented AADT) Foot traffic (documented) Neighborhood retail street (4,600 AADT); no source claim of heavy pedestrian traffic (2026-10-06). Frontage / visibility 'North side of W Becher St, W of S 79th St ... well-located neighborhood retail space' (commercialcafe). Neighborhood Honey Creek / West Allis border (53219) Condition 'This +/-900 SF storefront is part of a charming 1927 building' (commercialcafe). Verbatim evidence '$1,100.00/MO' '900 SF' '+/- 900 sf of retail coming spring of 2026' (commercialcafe, dated Sep 23, 2026); Crexi 'Retail | Single tenant | 900 SqFt', leaseType 'Modified Gross' (updated 2026-09-16). Sources source note live | |||||||||||
| 1845 N Farwell Ave | 950 SF | $14.00/SF/yr | $1,108/mo | bakery bay (950 SF), closest fresh size + lease-structure match | |||||||
Why it fits closest fresh size + lease-structure match to the 1,000 SF bakery bay (950 SF at FSG); TAGGED: user-class caveat, office/loft suites, NOT a food/health/beauty user Bay match bakery bay (950 SF), closest fresh size + lease-structure match Tags bakery bay (950 SF), closest fresh size + lease-structure match · TAGGED: user-class caveat (office/loft suites, not a food/health/beauty user) Lease structure full-service gross · add-ons $0.00/SF Traffic tier Medium (derived from documented AADT) Foot traffic (documented) Farwell/Brady-adjacent east side retail strip (5,200-9,500 AADT at 3 count stations within 270 m); 'popular urban retail and residential area' (Showcase). Frontage / visibility 'ample window line in vacant suites ... Building located in popular urban retail and residential ar[ea]' (Showcase). Neighborhood Lower East Side / Brady (53202) Condition 48,227 SF office/loft building; 'Great opportunity for space at below market rates. Combination of individual offices and open space' (Showcase). Verbatim evidence '950 SF' '$14.00 /SF/YR' (LoopNet; Date on Market: 6/23/2025, Last Updated: 10/3/2026); 'Gross Lease includes all utilities, taxes and operating expenses' (Showcase). Sources source note live | |||||||||||
9 rows: subject actual + subject pro forma + 7 comps. Lease structure and documented traffic (VPD) sit in each row's Details drawer. Two rows are P1k documented upgrades (3203 N Holton $16.80 net + CAM; 5316 W Vliet $19.64 modified gross) and carry HISTORICAL labels (Dec-2024 and May-2025 askings; both documented in the appraisal's comp exhibits). Traffic tier is derived from the nearest documented WisDOT AADT (High 20,000+, Medium 8,000 to 19,999, Low under 8,000). Bakery lease expiry 11/30/2026 is flagged in the subject row's Details.
Market evidence · sales
Seven adjudicated public-record sales (City assessor + WI RETR deeds), 2025 to 2026, with $/SF, $/unit, GRM and cap figures. The subject's own January 2026 trade sits in the table so the comparison is honest.
| Property | Sale price | Price/unit | Price/SF | GRM / cap | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2600-2604 N Booth St (subject) | $850,000 | $141,667/unit | $108.03/SF | 9.43 in place / 7.94 at market | |||||||
| 800 E Chambers St | $540,000 | $90,000/unit | $116.73/SF | no evidence found (2026-10-06) | |||||||
Why it fits same unit count as subject, Riverwest core Tags same unit count as subject (6) · Riverwest core · ~30% commercial COE 2025-07-02 Unit mix 1xST + 2x1BR + 1x2BR + 1x3BR + 1xCOMM (~30% commercial) Built 1905 Grantor to grantee SJM Squared Properties LLC to Gengler Property Group LLC GRM no evidence found (2026-10-06) Cap rate (documented) 7.18% (implied; appraiser OAR build-up: GPI $65,892 - vacancy $2,584 = EGI $63,308 - opex $24,512 = NOI $38,796) Verbatim evidence Assessor: '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.' Sources source note live local: RETR_2025-07.csv Doc 11521359; appraisal-extract.md (data/appraisal-source.pdf pp.46-47; RETR_2025-07.csv Doc 11521359; appraisal-extract.md (data/appraisal-source.pdf pp.46-47 | |||||||||||
| 2034-36 N Dr. Martin Luther King Jr Dr | $329,000 | $109,667/unit | $108.58/SF | no evidence found (2026-10-06) | |||||||
Why it fits audit swap: CLOSED 12/1/2025 (Doc 11562152), 2BR apt over commercial (~53% comm) = subject's exact stack; $108.58/SF vs subject $108.03/SF almost identical Tags AUDIT SWAP · CLOSED 12/1/2025 (Doc 11562152) · 2BR apt over commercial (~53% commercial) = subject's exact stack · $108.58/SF vs subject $108.03/SF almost identical · UNIT COUNT CONFLICT preserved: appraisal 2 income units ($164,500/unit) vs assessor card 3 ($109,667/unit shown) COE 2025-12-01 Unit mix 1x2BR + 1xCOMM (~53% commercial) per appraisal; assessor card counts 2xCOMM + 1xRES Built 1885 Grantor to grantee James P. Fetzer Trust to Red Maple Investments LLC GRM no evidence found (2026-10-06) Cap rate (documented) 7.15% (implied; appraiser OAR build-up: GPI $42,000 - vacancy $2,850 = EGI $39,150 - opex $15,624 = NOI $23,526) Verbatim evidence Assessor: '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.' Sources source note live local: Doc 11562152 (Nov/Dec-2025 RETR months not in CSV set; verified via assessor record card; appraisal-extract.md (data/appraisal-source.pdf pp.40-41; Doc 11562152 (Nov/Dec-2025 RETR months not in CSV set; verified via assessor record card; appraisal-extract.md (data/appraisal-source.pdf pp.40-41 | |||||||||||
| 1333-35 N Dr. Martin Luther King Jr Dr | $675,000 | $225,000/unit | $130.36/SF | no evidence found (2026-10-06) | |||||||
Why it fits retail corridor mixed-use stock Tags retail corridor mixed-use stock · MLK corridor COE 2025-05-27 Unit mix 1x1BR + 2xCOMM (assessor card) Built 1921 Grantor to grantee Cream City Aquatics LLC to 1333 MLK LLC GRM no evidence found (2026-10-06) Cap rate (documented) no evidence found (2026-10-06) Verbatim evidence Assessor: '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'. RETR: conv 05-27-2025, Doc 11512121, 'CREAM CITY AQUATICS LLC -> 1333 MLK LLC', No relationship. Sources source note live local: RETR_2025-06.csv Doc 11512121; RETR_2025-06.csv Doc 11512121 | |||||||||||
| 2670 N Holton St (2670-2672) | $195,000 | $65,000/unit | $62.62/SF | no evidence found (2026-10-06) | |||||||
Why it fits audit swap: CLOSED 11/25/2025 (Doc 11563376), 2x2BR + 1 commercial = subject stack on the subject's own Holton corridor; ONLY comp with documented in-place rents at sale Tags AUDIT SWAP · CLOSED 11/25/2025 (Doc 11563376) · 2x2BR + 1 commercial = subject stack on the subject's own Holton corridor · ONLY comp with documented in-place rents at sale COE 2025-11-25 Unit mix 2x2BR + 1xCOMM (~50% commercial) per appraisal; assessor card counts 4xCOMM + 1xRES Built 1923 Grantor to grantee Greer Real Estate LLC to Lynne and Shannon Ann Leland GRM no evidence found (2026-10-06) Cap rate (documented) 8.73% (implied; appraiser OAR build-up: GPI $29,796 - vacancy $1,680 = EGI $28,116 - opex $11,084 = NOI $17,032) Verbatim evidence Assessor: '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.' Sources source note live local: Doc 11563376 (Nov/Dec-2025 RETR months not in CSV set; verified via assessor record card; appraisal-extract.md (data/appraisal-source.pdf pp.42-43; Doc 11563376 (Nov/Dec-2025 RETR months not in CSV set; verified via assessor record card; appraisal-extract.md (data/appraisal-source.pdf pp.42-43 | |||||||||||
| 1947-49 N Dr. Martin Luther King Jr Dr | $180,000 | $90,000/unit | $97.40/SF | no evidence found (2026-10-06) | |||||||
Why it fits audit swap: CLOSED 4/16/2025 (Doc 11502526), 1BR + commercial (~64% comm); 1877 brick = subject-tier stock (appraiser 0% quality adjustment), appraiser sales comp #1 Tags AUDIT SWAP · CLOSED 4/16/2025 (Doc 11502526) · 1BR + commercial (~64% commercial) · 1877 brick = subject-tier stock (appraiser 0% quality adjustment) · appraiser sales comp #1 COE 2025-04-16 Unit mix 1x1BR + 1xCOMM (~64% commercial) Built 1877 Grantor to grantee L & C Management Group LLC to Nineteen Forty Seven LLC GRM no evidence found (2026-10-06) Cap rate (documented) 13.78% (implied; appraiser OAR build-up: GPI $45,600 - vacancy $3,840 = EGI $41,760 - opex 37.2% $16,963 = NOI $24,797) Verbatim evidence Assessor: '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.' Sources source note live local: RETR_2025-04.csv Doc 11502526; appraisal-extract.md (data/appraisal-source.pdf pp.38-39; RETR_2025-04.csv Doc 11502526; appraisal-extract.md (data/appraisal-source.pdf pp.38-39 | |||||||||||
| 2828 N Fratney St | $685,000 | $97,857/unit | $128.59/SF | no evidence found (2026-10-06) | |||||||
Why it fits Riverwest 7-unit, price/SF anchor Tags Riverwest 7-unit, price/SF anchor COE 2026-01-30 Unit mix 7x?BR (assessor AP2 7-11 unit apt, 14 bedrooms) Built 1903 Grantor to grantee Higgins Investments LLC to Justin Eckes GRM no evidence found (2026-10-06) Cap rate (documented) no evidence found (2026-10-06) Verbatim evidence Assessor: '2828 N FRATNEY ST ... AP2 (Conventional Apt with 7-11 Units) ... 5,327 [Fin area] ... 0 commercial unit(s) and 7 residential unit(s)'. RETR: conv 01-30-2026, Doc 11574375, 'HIGGINS INVESTMENTS LLC -> ECKES, JUSTIN', 7 units, $685,000.00. Sources source note live local: RETR_2026-01.csv Doc 11574375; RETR_2026-01.csv Doc 11574375 | |||||||||||
| 3439-55 N Dr. Martin Luther King Jr Dr | $400,000 | $80,000/unit | $38.82/SF | no evidence found (2026-10-06) | |||||||
Why it fits audit swap: freshest trade in the pool (CLOSED 6/26/2026, Doc 11613995), 4 apts + 1 commercial; TAGGED: sold AFTER the subject's 1/13/2026 closing, current evidence, not contemporaneous Tags AUDIT SWAP · freshest trade in the pool (CLOSED 6/26/2026, Doc 11613995) · 4 apts + 1 commercial · TAGGED: sold AFTER the subject's 1/13/2026 closing (current evidence, not contemporaneous) Units / SF 5 units · 10,304 SF COE 2026-06-26 Unit mix 4x?BR + 1xCOMM (assessor card: 10 bedrooms total) Built 1915 Grantor to grantee Y & K Enterprises LLC to Dhillon Brothers, LLC GRM no evidence found (2026-10-06) Cap rate (documented) no evidence found (2026-10-06) Verbatim evidence Assessor: '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'. RETR: conv 06-26-2026, Doc 11613995, 'Y & K ENTERPRISES LLC -> DHILLON BROTHERS, LLC', $400,000.00. Sources source note live local: RETR_2026-06.csv Doc 11613995; RETR_2026-06.csv Doc 11613995 | |||||||||||
8 rows: 1 subject + 7 comps (4 are audit swaps into closed, documented mixed-use trades). COE date, units and SF sit in each row's property line and Details drawer. $/SF and $/unit are computed from the adjudicated price, SF and unit counts; GRM appears only where price and gross scheduled rent are both documented (MISSION rule 5); cap figures marked implied come from a documented build-up, not a quoted rate. Unit-count conflicts (assessor card vs appraisal) are preserved in each row's Details.
Market evidence · GRM
Seven adjudicated price-to-gross-rent pairs. Every row carries its basis label: CLOSED trades with documented rents at or near the sale are the strongest evidence; ASKING rows are market context only.
| Property | Basis (ASKING vs CLOSED) | Price | Gross annual rent | GRM | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2600-2604 N Booth St (subject) | ACTUAL (in-place leases) | $850,000 | $90,120 | 9.43 | |||||||
Cap 5.85% Income class mixed-use (3 apartments + 3 commercial) Sources source note Subject facts GRM 9.43 ($850,000 / $90,120 in-place gross), cap 5.85% in place. Structure: gross apartments (tenant pays electric and heat) + modified gross commercial (2604 N Booth bakery lease: landlord pays taxes, insurance, CAM, structural repairs, sewer/water). | |||||||||||
| 2600-2604 N Booth St - PF | STABILIZED (market rents) | $850,000 | $107,120 | 7.94 | |||||||
Cap 7.2% Income class mixed-use (3 apartments + 3 commercial) Sources source note Subject facts GRM 7.94 ($107,120 market gross), cap 7.2% at market rents (stabilized). | |||||||||||
| 2800 W Lincoln Ave | ASKING, active with offer 2026 (MLS 1944520) | $389,000 | $48,420 | 8.03 | |||||||
Why it fits class match: a BAKERY over apartment Basis ASKING (GRM = price / gross scheduled annual rent: $389,000 / $48,420 = 8.03) Structure gross (tenant-paid utilities) Cap 7.10% Income class mixed-use (bakery + 3BR) Notes class match: a BAKERY over an apartment. Cap 7.1% = implied on documented gross rents (adjudicated; appraisal opex build-up) Verbatim evidence The bakery has been operated by the same tenant for six years and, together with the residence, generates $4035 per month in rent, with tenants paying utilities. Sources source note live | |||||||||||
| 2767 N Holton St | CLOSED 2022-05-25 (Doc 11253566), documented rent roll at listing | $490,000 | $70,416 | 6.96 | |||||||
Why it fits P1k upgrade: CLOSED 5/25/2022 (Doc 11253566) $490,000 with DOCUMENTED rent roll 6x $978 = $70,416/yr (Shorewest print 1971467 read live); GRM 6.96 on the closed price / 8.22 on the 2026 ask; subject Holton corridor Basis CLOSED (GRM = price / gross scheduled annual rent: $490,000 / $70,416 = 6.96) Structure gross scheduled (6x $978 published avg rents) Cap no evidence found (2026-10-06) Income class 6u (Class 2, retail component unconfirmed - flagged) Notes P1k upgrade: GRM 6.96 on the closed price; 8.22 on the 2026 ask ($579,000, MLS 1971467). Retail component unconfirmed (RETR Commercial Class 2), flagged Verbatim evidence '2767 N Holton St, Milwaukee $579,000 6 Units ... Active with Offer' | 'Multi-Family Status: Active with Offer Total Number of Units: 6 Unit Type 1 # of Units: 6 Unit Type 1 Avg Rent: $978 Outside Parking: 8 Est. Square Footage: 6,651 Est. Year Built: 1925 ... MLS#: 1971467 Listing Company: Berkshire Hathaway HomeServices Metro Realty Price/SqFt: $87' | 'Fully occupied brick 6 unit apartment building. All units are large 2BR 1BA with natural hardwoods and moldings throughout. ... See offering memorandum for financials.' | RETR: 'Warranty deed, Sale Price $490,000.00, Conveyance 05-25-2022, Document Number 11253566, Property Use Type: Commercial (Class 2)'. Sources source note live local: offmarket/retr/RETR_2022-05.csv (WI RETR deed doc 11253566) | |||||||||||
| 2453-2457 S Wentworth Ave | CLOSED 2022-05-05 (Doc 11243805), published gross rent roll | $670,000 | $69,720 | 9.61 | |||||||
Why it fits closed trade with published gross rent roll Basis CLOSED (GRM = price / gross scheduled annual rent: $670,000 / $69,720 = 9.61) Structure gross ($2,310/mo residential + $3,500/mo retail) Cap 5.94% Income class mixed-use (2 res + 1 retail) Notes Cap 5.94% = implied on documented gross income (adjudicated; appraisal opex build-up) Verbatim evidence Total of 3 Tenants; 2 Residential and 1 Retail/Restaurant | $2,310 Gross Rent from Residential Tenants | $3,500 Gross Income from Retail Tenant | Total of $69,720 GROSS INCOME Sources source note live | |||||||||||
| 2324 N Weil St | CLOSED 2022-05-25 (Doc 11251357), documented rent roll at listing | $410,000 | $50,700 | 8.09 | |||||||
Why it fits P1k upgrade: CLOSED 5/25/2022 (Doc 11251357) $410,000 with DOCUMENTED rent roll 4x $850 + 1x $825 = $50,700/yr (Shorewest print 1785660 read live); N Weil corridor; same-seller package as 2767 N Holton Basis CLOSED (GRM = price / gross scheduled annual rent: $410,000 / $50,700 = 8.09) Structure gross scheduled (4x $850 + 1x $825 published rents) Cap no evidence found (2026-10-06) Income class 5u (Class 2, retail component unconfirmed - flagged) Notes P1k upgrade: N Weil corridor; same-seller package as 2767 N Holton. Retail component unconfirmed (RETR Commercial Class 2), flagged Verbatim evidence '2324 N Weil St Milwaukee WI 53212 $450,000 Multi-Family Sold MLS# 1785660 Total Number of Units: 5 Est. SqFt: 4,177' | 'Status: Sold Total Number of Units: 5 Unit Type 1 # of Units: 4 Unit Type 1 Avg Rent: $850 Unit Type 2 # of Units: 1 Unit Type 2 Avg Rent: $825 ... MLS#: 1785660 Listing Company: Coldwell Banker Realty Price/SqFt: $107' | 'Fully occupied 5-unit apartment building with (4) two bedroom units and (1) one bedroom unit. See Offering Memorandum in Documents for additional building info and financials.' | Coldwell JSON-LD: '"price":{"listPrice":450000,"isHideSoldPrice":false,"closePrice":41000[0]}' | RETR: 'Warranty deed, Sale Price $410,000.00, Conveyance 05-25-2022, Document Number 11251357, Property Use Type: Commercial (Class 2)'. Sources source note live local: offmarket/retr/RETR_2022-05.csv (WI RETR deed doc 11251357) | |||||||||||
| 800 E Chambers St | ASKING, expired listing (MLS 1913298) | $549,900 | $68,400 | 8.04 | |||||||
Why it fits same unit count + neighborhood Basis ASKING (GRM = price / gross scheduled annual rent: $549,900 / $68,400 = 8.04) Structure gross (rents estimated from published avg rents per unit type) Cap no evidence found (2026-10-06) Income class 6-unit Riverwest Notes same unit count (6) + neighborhood. The subject-style closed trade at this address is the sales row (7/2/2025, $540,000) Verbatim evidence 800 E Chambers St (MLS 1913298): price 549900.0, gross annual rent 68400.0 (estimated: arithmetic on published Avg Rent per unit type (Σ = $5,700/mo x 12; Σ units = 6 = Total)) Sources source note live | |||||||||||
| 2670 N Holton St | CLOSED 2025-11-25 (Doc 11563376), documented rents AT SALE | $195,000 | $20,340 | 9.59 | |||||||
Why it fits audit swap: the pool's STRONGEST methodology row, CLOSED 11/25/2025 (Doc 11563376) with documented in-place apt rents AT SALE (GRM 9.59 partial-actual / 5.95 whole-building est.); subject's Holton corridor Basis CLOSED (GRM = price / gross scheduled annual rent: $195,000 / $20,340 = 9.59) Structure gross apartments ($750 + $945/mo, landlord-paid heat/electric ~$125/unit/mo) Cap 5.95% Income class mixed-use (2x2BR + 1 commercial) Notes the pool's strongest methodology row: partial-actual GRM 9.59 (documented apt rents at sale). Cap 5.95% = whole-building estimate (commercial rent not documented). Subject's Holton corridor Verbatim evidence Per the broker listing the two bedroom units were leased at $750 and $945 per month, gross. Less around $125 per month in heat and electricity costs per unit the respective rents are $625 and $820 per month. Sources source note (local documentary source) local: data/appraisal-source.pdf (PDF pp.42-43) [quotes via data/appraisal-extract.md, Phase 0b OCR] | |||||||||||
| Riverwest portfolio (incl. 122-124 E Lloyd) | CLOSED (2021-era listing, Crexi status Closed) | $2,200,000 | $250,500 | 8.78 | |||||||
Why it fits itemized rent roll $20,875/mo, Riverwest-wide Basis CLOSED (GRM = price / gross scheduled annual rent: $2,200,000 / $250,500 = 8.78) Structure not documented (2026-10-06) Cap 6.50% Income class 25u portfolio w/ mixed-use Notes itemized rent roll $20,875/mo, Riverwest-wide. Cap 6.5% = implied on documented per-building rent roll (adjudicated; appraisal opex build-up). Plotted at 122-124 E Lloyd (the mixed-use building inside the 10-building portfolio) Verbatim evidence Investment opportunity containing 10 buildings with 25 units in Riverwest area of Milwaukee. ... Mixed Use Property: 2 Commercial Store Front Units 3 Loft Apartments 1 Apartment 1 BD / 1 BA Total Rent $5,260 ... Milwaukee Portfolio - $2,200,000 Sources source note live | |||||||||||
9 rows: subject actual (GRM 9.43) + subject stabilized (GRM 7.94) + 7 comps. Cap and income class sit in each row's Details drawer. CLOSED rows: 2767 N Holton (2022, documented rent roll), 2453-2457 S Wentworth (2022, published gross rent roll), 2324 N Weil (2022, documented rent roll), 2670 N Holton (2025, documented rents at sale), Riverwest portfolio (2021). ASKING rows: 2800 W Lincoln Ave (active with offer) and 800 E Chambers St (expired listing). Structure, basis and income class follow MISSION rule 6b; every GRM reproduces as price / gross scheduled rent.
Where everything sits
MapLibre GL on OpenFreeMap Liberty. Pin coordinates geocoded from documented addresses (Nominatim / OpenStreetMap contributors, 2026-10-06); 29 pins: 28 comp rows + the subject pin (the Riverwest portfolio plots at 122-124 E Lloyd, its documented mixed-use building), 0 rows carry no published address to plot. Basemap (c) OpenFreeMap, OpenMapTiles, OpenStreetMap contributors.
Rule 6b triangulation
Three ways to value the building, all on market rents, all from this study's evidence. The upside case is the case: the units are in great shape, the building is fully leased, and the rents are simply below market.
1 · Weighted component GRM
Residential leg: GRM 8.18 × $61,140 market rent = $500,125. Retail leg: no evidence found (2026-10-06) for a retail-only price and rent pair, so this leg stays open and the method cannot close on its own.
2 · Matched-mix blended GRM
GRM 8.08 (mixed-use cross-check set, n=5) × $107,120 market gross.
Agreement band
Matched-mix blended $865,530 (GRM 8.08 on market gross $107,120) vs direct cap $719,635-$849,569 (7.2-8.5 pct on market NOI $61,169) vs the subject's own Jan-2026 trade $850,000 (7.94 stabilized GRM). The three computable legs agree at roughly $850K plus or minus 2 pct on the upside case; the band widens to $720K-$866K when the 8.5 pct stress and the 7.2 pct tight end are carried. The weighted-component leg is half-computable (resi $500,125 on GRM 8.18 + retail gap) and does not contradict the band. Sale-only GRM trade proof is thin (2 properties, 6.11-6.32): the asking-price GRM distribution (n=44, median 8.18) is market context per MISSION rule 6.
At market rents the building grosses $107,120 and nets $61,169. In place it grosses $90,120 (apartments $50,340 + commercial $39,780). The gap is $17,000 a year: $10,800 on the apartments (units 1 and 3 are documented below market) and $6,200 on the commercial (2600 N Booth never repriced after the tenant expanded into 808 E Clarke). At the blended multiplier that gap is worth about $137,000 of value ($17,000 × 8.08 = $137,360).
You paid $850,000 (GRM 7.94 on market rent, GRM 9.43 on today's rent). All three legs land on your trade within roughly 2%, so the price is supported at market rents and the work that pays is the rent roll, not the exit. The building's condition is settled and strong; the gap is between what the units earn and what the evidence says they can earn.
Riverwest/Harambee (53212) asks (7.40-9.54% on Buffum/Chambers/3rd/Finlayson) price 50-150 bps WIDER than East Side/Lincoln Ave small mixed-use asks (6.60-7.88%): the submarket trades at a discount to the East Side for comparable small stock, driven by older stock and thinner retail depth (the appraisal itself applied +30% location adjustments to the North Holton corridor comps against the subject). Against that reality the subject's Jan-2026 7.2% on market rents is the TIGHT end of its own submarket, consistent with owner-confirmed condition (great shape, updated finishes), 100% occupancy, and corner exposure. The seller's 5.85% going-in on 2025 actuals reflects documented below-market apartment and 2600 N Booth rents (the appraisal's single named lever: the tenant expanded into 808 E Clarke at no rent adjustment), not overpayment. Site verdict: value at 7.2-7.75% on market rents, show 8.5% as stress, show 5.85% as the in-place reality with the rent-gap explanation. source note
Appendix
The GRM table above is the adjudicated GRM set. The cap rows below support the 7.2% to 8.5% direct-cap band: property-level evidence first, then market-wide context rows (guides, market pages, larger assets), then every lane's documented gap. Partial-actual twins and distribution-excluded rows are kept out of the triangulation sets and the reason is in each source note. The full grids are collapsed so the study reads at a human pace; open any panel for every row (no data is dropped).
| Address or report | Date | Price | NOI | Cap rate | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2600-2604 N Booth St (subject) | 2026-01-12 | $850,000 | $61,169 | 7.20% (stated (appraiser concluded overall rate)) | |||||||
Asset class small mixed-use (3 apartments + 3 commercial) Units / SF 6 units / 7,868 SF GBA Opex assumption if implied 37.2% of base PGI (appraisal build-up; 35%/45% sensitivity recomputed) Verbatim evidence 0.75 x 0.0739 = 0.0554 (mortgage) + 0.25 x 0.065 = 0.0163 (equity) = 0.0717 -> Overall Capitalization Rate 7.2%. NOI $61,169 / 0.072 -> $849,569 -> $850,000 Sources source note (local documentary source) local: data/appraisal-extract.md (appraisal pp.96-98; RETR_2026-01.csv Doc 11572508 | |||||||||||
| 573 W Lincoln Ave 575, 573 W Lincoln Ave, Milwaukee, WI 53207 | 2025-11 | $409,000 | $27,013 | 6.60% (stated) | |||||||
Asset class Mixed Use/mixed use Units / SF 4784 SF Opex assumption if implied listing-stated NOI (no opex build needed) Verbatim evidence Mixed Use | 6.60% CAP | 4,784 SqFt Sources source note live | |||||||||||
| 4630 W North Ave, 4630 W North Ave, Milwaukee, WI 53208 | 2026-01 | $545,000 | $42,945 | 7.88% (stated) | |||||||
Asset class Mixed Use/mixed use Units / SF 5712 SF Opex assumption if implied listing-stated NOI (no opex build needed) Verbatim evidence Mixed Use | 7.88% CAP | 5,712 SqFt Sources source note live | |||||||||||
| Eastside Mixed-Use Property | 10 Residential | 5 Commercial, 1800 N Farwell Ave, Milwaukee, WI 53202 | 2026-08 | $2,700,000 | no evidence found (2026-10-06) | 7.87% (stated; three figures circulate on this listing: field 6.05%, description 7.87% CAP Year One (live Crexi text 2026-10-06), M&M listing 305573 spec block 6.50% (stated in the spec block). Year-one vs in-place basis explains the spread.) | |||||||
Asset class Mixed Use/Multifamily, Retail Units / SF 16200 SF Opex assumption if implied no evidence found (2026-10-06) - Crexi masks NOI to anonymous reads; no documented NOI to build opex from Verbatim evidence Price Improvement! Mixed Use | 7.87% CAP Year One | 16,200 SqFt Sources source note live | |||||||||||
| 3211 N BUFFUM ST # 3213 MILWAUKEE WI 53212, 3211 N BUFFUM ST, MILWAUKEE, WI 53212 | 2026-07 | $192,000 | $14,215 | 7.40% (stated) | |||||||
Asset class Multifamily Units / SF 2474 SF Opex assumption if implied listing-stated NOI (no opex build needed) Verbatim evidence Multifamily • 7.4% CAP Sources source note live | |||||||||||
| 117 E CHAMBERS ST MILWAUKEE WI 53212, 117 E CHAMBERS ST, MILWAUKEE, WI 53212 | 2026-07 | $185,000 | $14,999 | 8.11% (stated) | |||||||
Asset class Multifamily Units / SF 1960 SF Opex assumption if implied listing-stated NOI (no opex build needed) Verbatim evidence Multifamily • 8.11% CAP Sources source note live | |||||||||||
| 3332A N 3RD ST MILWAUKEE WI 53212, 3332A N THIRD ST, MILWAUKEE, WI 53212 | 2026-08 | $260,000 | $24,800 | 9.54% (stated) | |||||||
Asset class Multifamily Units / SF 4155 SF Opex assumption if implied listing-stated NOI (no opex build needed) Verbatim evidence Multifamily • 9.54% CAP Sources source note live | |||||||||||
| 2338 N Dr William Finlayson St 2340, 2338 Dr. William Finlayson St, Milwaukee, WI 53212 | 2026-04 | $229,900 | $7,063 | 3.07% (implied) | |||||||
Asset class Multifamily/duplex Units / SF 3167 SF Opex assumption if implied listing-stated NOI (no opex build needed) Verbatim evidence Multifamily | 2 Units | $114,950/unit Sources source note live | |||||||||||
| Bay View 7 Unit Multifamily Building, 835 E Norwich St, Milwaukee, WI 53207 | 2026-09 | $995,000 | $70,665 | 7.10% (implied) | |||||||
Asset class Multifamily/Apartment Building Units / SF 7602 SF Opex assumption if implied listing-stated NOI (no opex build needed) Verbatim evidence Multifamily | 7 Units | $142,142/unit Sources source note live | |||||||||||
| 718 W Grange Avenue, 718 W Grange Avenue, Milwaukee, WI 53221 | 2026-09 | $1,200,000 | $85,540 | 7.13% (implied) | |||||||
Asset class Multifamily/Apartment Building, Duplex/Triplex/Quadruplex Units / SF SF/units not documented on listing Opex assumption if implied listing-stated NOI (no opex build needed) Verbatim evidence Multifamily | 8 Units Sources source note live | |||||||||||
| 4284 S Whitnall Avenue, 4284 S Whitnall Avenue, Milwaukee, WI 53207 | 2026-09 | $1,100,000 | $78,712 | 7.16% (implied) | |||||||
Asset class Multifamily/Apartment Building, Duplex/Triplex/Quadruplex Units / SF SF/units not documented on listing Opex assumption if implied listing-stated NOI (no opex build needed) Verbatim evidence Multifamily | 8 Units Sources source note live | |||||||||||
| 3459 N 8th St, 3459 N 8th St, Milwaukee, WI 53206 | 2026-04 | $179,900 | $23,718 | 13.18% (stated) | |||||||
Asset class Multifamily/Duplex Units / SF 2400 SF Opex assumption if implied listing-stated NOI (no opex build needed) Verbatim evidence Multifamily | 2 Units | $89,950/unit Sources source note live | |||||||||||
| 2436 S Wentworth Ave, 2436 S Wentworth Ave, Milwaukee, WI 53207 | 2026-06 | $1,125,000 | $69,690 | 6.19% (stated) | |||||||
Asset class Multifamily/Apartment Building, Duplex/Triplex/Quadruplex Units / SF 5200 SF Opex assumption if implied listing-stated NOI (no opex build needed) Verbatim evidence Turnkey Bay View 5-Unit with Airbnb Flexibility & Rental Upside Sources source note live | |||||||||||
| 1108 S 20th Street, 1108 S 20th Street, Milwaukee, WI 53204 | 2026-07 | $325,000 | $27,400 | 8.43% (implied) | |||||||
Asset class Multifamily/Apartment Building, Duplex/Triplex/Quadruplex Units / SF SF/units not documented on listing Opex assumption if implied listing-stated NOI (no opex build needed) Verbatim evidence Multifamily | 3 Units Sources source note live | |||||||||||
| 2474 S 13th Street, 2474 S 13th Street, Milwaukee, WI 53215 | 2026-07 | $375,000 | $33,480 | 8.93% (implied) | |||||||
Asset class Multifamily/Apartment Building, Duplex/Triplex/Quadruplex Units / SF SF/units not documented on listing Opex assumption if implied listing-stated NOI (no opex build needed) Verbatim evidence Multifamily | 4 Units Sources source note live | |||||||||||
| 500 W Arthur Avenue, 500 W Arthur Avenue, Milwaukee, WI 53207 | 2026-07 | $300,000 | $28,555 | 9.52% (implied) | |||||||
Asset class Multifamily/Apartment Building, Duplex/Triplex/Quadruplex Units / SF SF/units not documented on listing Opex assumption if implied listing-stated NOI (no opex build needed) Verbatim evidence Multifamily | 3 Units Sources source note live | |||||||||||
| 4404 W Burleigh St, Milwaukee 53210 (MLS 1961814, eXp Realty) | 2026-05 | $475,000 | no evidence found (2026-10-06) | 8.17% (implied) | |||||||
Asset class small mixed-use (4 commercial + 4 one-bedroom apartments) Units / SF 8 units / 5,616 SF Opex assumption if implied appraisal build-up method: NOI = GPI - vacancy - r x GPI; vacancy 5.72% (appraisal blended 6,126/107,120); r at 35% / 37.2% / 45%. Only 'over 68k' gross income documented, so 68,000 used as the floor. Verbatim evidence Build your portfolio with this amazing 8 unit mix apartment/commercial space building. This property features 4 fully occupied commercial spaces and 4 one bedroom apartment units with long term tenants. The property has a great cash flow with an average gross income of over 68k annually with the potential to increase. Sources source note live | |||||||||||
| LoopNet Milwaukee, WI market trends page | 2026-10 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | 8.61% (stated) | |||||||
Asset class all commercial types, market-wide Units / SF market aggregate Opex assumption if implied n/a (stated aggregate) Verbatim evidence $159 per SF Avg asking sale price $18 per SF Avg asking lease rate 20,609 SF Avg unit lease size 45,709 SF Avg building size for sale 8.61% Average cap rate Sources source note live | |||||||||||
| Matthews Real Estate Investment Sales, Southern Wisconsin Multifamily Market Report Q4 2025 | 2026-01 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | 8.20% (stated) | |||||||
Asset class multifamily (Kenosha, Racine, Milwaukee, Washington, Waukesha counties) Units / SF market aggregate Opex assumption if implied n/a (stated) Verbatim evidence Cap rates expanded to 8.2%, underscoring the continued reset in pricing expectations amid higher interest rates and cautious buyer sentiment. Sources source note live | |||||||||||
| CapRateIndex, Cap Rate by City: Milwaukee, WI | 2026-10 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | 8.04% (stated) | |||||||
Asset class all types (city aggregate, trailing 12 months) Units / SF market aggregate Opex assumption if implied n/a (stated aggregate) Verbatim evidence Milwaukee City Level 8.04 0.43 22.97 (Average TTM | Low TTM | High TTM) Sources source note live | |||||||||||
| 1326-1337 W Oklahoma Ave (two-tenant strip), Founders 3 OM | 2026-04-24 (OM prepared; checked 2026-10-06) | $425,000 | $27,820 | 6.55% (stated (OM OFFERING block)) | |||||||
Asset class small retail strip, 2 tenants (gross leases) Units / SF 2 units Opex assumption if implied listing-stated NOI (no opex build needed) Verbatim evidence Pricing $425,000 | Cap Rate 6.55% | Net Operating Income $27,820 | Lease Types Gross Sources source note live | |||||||||||
| 3045 S 13th St (Oklahoma Center), Founders 3 OM | 2025-03-06 (OM prepared; checked 2026-10-06) | $2,662,500 | $213,000 | 8.00% (stated (OM OFFERING block, mirrored verbatim on Crexi listing copy)) | |||||||
Asset class small retail strip (Dollar Tree + Metro by T-Mobile), 1970/renov. 2007 Units / SF 25036 SF Opex assumption if implied listing-stated NOI (no opex build needed) Verbatim evidence Pricing : $2,662,500 | Cap Rate 8.00% | Net Operating Income : $213,000 | Lease Types : NNN | Rentable Area : 25,036 SF Sources source note live | |||||||||||
| 2900 W Arthur Ave package (2 mixed-use buildings, 9 units), Crexi listing 2551493 | listed 2026-05-29 (checked 2026-10-06) | $795,000 | $57,094 | 7.18% (stated in search financials (capRatePercent 7.18; NOI 57,094)) | |||||||
Asset class small mixed-use (2 retail/commercial + 7 apartments) Units / SF 8496 SF Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence Fully Occupied with a total of 9 units including two retail/commercial storefronts and 7 large apartments. Gross rent is $8,195/month. Sources source note live | |||||||||||
| 2217/2221/2227-2229 W Wells St (Marquette student portfolio, 4 buildings), Marcus & Millichap listing 2143488 | listed 2025-08-18 (checked 2026-10-06) | $1,200,000 | $112,799 | 9.40% (stated (search financials capRatePercent 9.4; NOI 112,799)) | |||||||
Asset class 2-8 unit small-building portfolio (student housing), 22-23 BR Units / SF 6 units Opex assumption if implied listing-stated NOI (no opex build needed) Verbatim evidence Marcus & Millichap is pleased to present a portfolio of Student Housing properties located on campus at Marquette University. Comprised of Four Buildings, the Properties consists of Six Units totaling 22 Bedrooms within One City Block on W Wells Street. Sources source note live | |||||||||||
| 2340 S Kinnickinnic Ave (Bay View mixed-use), Crexi listing 2431932 | listed 2026-03-19, Under Contract (checked 2026-10-06) | $375,000 | $27,500 | 7.33% (implied from listing financials (NOI 27,500 / ask 375,000 = 7.33); listing TITLE still reads 6.71% CAP = pre-price-cut artifact) | |||||||
Asset class small mixed-use (barbershop + 3BR apt) Units / SF 1819 SF Opex assumption if implied listing-stated NOI (no opex build needed) Verbatim evidence The residential unit is 3 BR with many updates. Long term tenant pays $1900 per month. ... Long term upper tenant paying $1,900/mo. Lower tenant vacating, allowing an opportunity for owner/operator buyers to bring their business to this busy location. Sources source note live | |||||||||||
| 4842 W Lisbon Ave (Uptown 3-unit mixed-use), Crexi listing 2332537 | listed 2026-02-02 (checked 2026-10-06) | $345,000 | no evidence found (2026-10-06) | 10.25% (stated in listing description) | |||||||
Asset class small mixed-use (2 apartments + 1 commercial, 1924) Units / SF 3284 SF Opex assumption if implied listing-stated NOI (no opex build needed) Verbatim evidence Sale Price: $345,000 | Built in 1924, this 3-unit building in Milwaukee's Uptown neighborhood is for sale. This 3,284 SF building features two fully-leased apartment units upstairs and a leased commercial space on the main level. Located on the heavily trafficked Lisbon Avenue, the property is near North Avenue and a short distance to Highway 175, making it an excellent investment in a developing neighborhood. Sources source note live | |||||||||||
| 2800 W Lincoln Ave (bakery + 3BR residence), MLS 1944520, Shorewest | active-with-offer 2026 (checked 2026-10-06) | $389,000 | no evidence found (2026-10-06) | implied on documented gross rents (appraisal build-up: GPI - 5.72% vacancy - r x GPI) | |||||||
Asset class small mixed-use (turnkey bakery 2,800 SF + 3BR/1BA residence) Units / SF 4586 SF Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence The bakery has been operated by the same tenant for six years and, together with the residence, generates $4035 per month in rent, with tenants paying utilities. Sources source note live | |||||||||||
| 2453-2457 S Wentworth Ave (2 res + 1 retail/restaurant), past listing 683948 + deed | listed 2021-10-08; SOLD 2022-05-05 (RETR_2022-05.csv Doc 11243805); checked 2026-10-06 | $670,000 | no evidence found (2026-10-06) | implied on documented gross income (appraisal build-up) | |||||||
Asset class small mixed-use (2 residential + 1 retail/restaurant) Units / SF 4503 SF Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence Total of 3 Tenants; 2 Residential and 1 Retail/Restaurant | $2,310 Gross Rent from Residential Tenants | $3,500 Gross Income from Retail Tenant | Total of $69,720 GROSS INCOME Sources source note live | |||||||||||
| 4723 S 13th St (8-family brick), past listing 1057692 + deed | listed 2023-02-23 (On Hold); SOLD 2023-04-03 (RETR_2023-04.csv $775,000); checked 2026-10-06 | $775,000 | no evidence found (2026-10-06) | implied on documented PROFORMA gross (appraisal build-up) | |||||||
Asset class 2-8 unit multifamily (8 x 2BR/1BA) Units / SF 6528 SF Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence Brick 8 Family Conveniently Located on Milwaukee South-side .(8) 2 Bedroom 1 Bath Units. | Proforma Gross Income of $81,705. Sources source note live | |||||||||||
| Riverwest portfolio (10 buildings, 25 units incl. 122-124 E Lloyd mixed-use), past listing 571897 | listing 2021 era (Records dateActivated 2021-03-12; Closed); checked 2026-10-06 | $2,200,000 | no evidence found (2026-10-06) | implied on documented per-building rent roll (appraisal build-up) | |||||||
Asset class Riverwest portfolio: 25 units, 10 buildings incl. 1 mixed-use (2 storefronts + 3 lofts + apt) Units / SF 25 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence Investment opportunity containing 10 buildings with 25 units in Riverwest area of Milwaukee. ... Mixed Use Property: 2 Commercial Store Front Units 3 Loft Apartments 1 Apartment 1 BD / 1 BA Total Rent $5,260 ... Milwaukee Portfolio - $2,200,000 Sources source note live | |||||||||||
| 10049 W Loomis Rd 10057 | not documented in local trove (checked 2026-10-06) | $1,200,000 | $13,254 | 1.10% (implied (rent roll, unit-mix roll (ESTIMATED: one unit per listed rent line, type counts missing/irreconcilable in MLS, checked 2026-10-06))) | |||||||
Asset class Multi-Family Units / SF 2 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 2 units @ $935; Type 2: ? units @ $1,000 | 10049 W Loomis Rd 10057, Franklin, WI 53132 - UNIQUE OPORTUNITY to own two Residential 3BR, 1BA homes on 4+ acres in Franklin. Each home offers 3 bedrooms, 1 full bath and detached 2-car garage. Property includes 5 parcels (5 Tax IDs) and is located in Franklin's Business District under B-3 Zoning for future development. Homes are are being sold in AS-IS condition and per tenants righs. | ['Type 1: 2 units @ $935', 'Type 2: ? units @ $1,000'] Sources source note live | |||||||||||
| 2410 W Howard Ave | listed 2026-06-25, Active w/ Offer 2026-08-10, DOM 56 (live MLS check 2026-10-06) | $925,000 | $48,975 | 5.29% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 8 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence tes, the building benefits from a location that continues to attract tenants. A rare chance to acquire a high-income-producing asset with room to add value. | 2410 W Howard Ave, Milwaukee, WI 53221 - Calling all investors! This 8-unit multifamily property offers an outstanding opportunity to maximize returns through efficient management and strategic improvements. Whether you're looking to optimize operations, increase rents over time, or capitalize on long-term appreciation, this property checks all the boxes. Conveniently located near public transport | ['Type 1: 3 units @ $975', 'Type 2: 4 units @ $875', 'Type 3: 1 units @ $725'] Sources source note live | |||||||||||
| 2312 N 71st St | not documented in local trove (checked 2026-10-06) | $755,000 | $38,358 | 5.08% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 8 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 8 units @ $700 | 2312 N 71st St, Wauwatosa, WI 53213 - Check out this fantastic investment opportunity in Wauwatosa! This well-maintained property features 8 studio-style units. It includes a large private parking lot at the rear of the building. Seven units are currently rented at $700 per month, while the eighth unit is rented at $800, providing significant potential for future rent increases. The basement offer | ['Type 1: 8 units @ $700'] Sources source note live | |||||||||||
| 6036 W Kaul Ave | not documented in local trove (checked 2026-10-06) | $715,000 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | |||||||
Asset class Multi-Family Units / SF 8 units Opex assumption if implied listing-stated (no opex build needed) Verbatim evidence unit mix with rents: Type 1: 2 units @ $800; Type 2: 2 units @ $1,025; Type 3: 2 units @ $1,100; Type 4: 1 units @ $1,200 | 6036 W Kaul Ave, Milwaukee, WI 53218 - Fantastic 8 unit multi-family brick building tucked away in the Silver Spring neighborhood bordering Havenwoods. The property features 2 bedroom units with an eat in Kitchen, spacious living rooms with large picture windows, good storage and bathrooms with ceramic tile and shower over tub. Four units per floor with a front and back stairwell. Separate utiliti | ['Type 1: 2 units @ $800', 'Type 2: 2 units @ $1,025', 'Type 3: 2 units @ $1,100', 'Type 4: 1 units @ $1,200'] Sources source note live | |||||||||||
| 4701 N 52nd St | not documented in local trove (checked 2026-10-06) | $669,900 | $45,043 | 6.72% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 8 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 8 units @ $822 | 4701 N 52nd St, Milwaukee, WI 53218 - Wonderful eight family in a convenient Milwaukee location! This great property offers eight two bedroom one bathroom units, each with large windows and ample space. The full basement offers storage area and laundry hook ups. Off street parking for 16 vehicles is an added perk. This is a great opportunity! | ['Type 1: 8 units @ $822'] Sources source note live | |||||||||||
| 8712-8714 W Mitchell St 8714A | not documented in local trove (checked 2026-10-06) | $600,000 | $38,289 | 6.38% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 6 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence uyers who want to control the whole corner. Six doors at under $100K each with documented income. Financials, rent roll, and leases on file. Do not disturb tenants; showings by appointment. | 8712-8714 W Mitchell St 8714A, West Allis, WI 53214 - One package, two buildings, six units in the heart of West Allis: a 4-family plus a duplex, fully occupied with $67,080 in scheduled annual rents and leases in place into 2027. Rents average just $932/unit with clear room to grow at each renewal. 2025 operating statements reflect a ~$25K one-time exterior renovation of the duplex - that reinves | ['Type 1: 1 units @ $1,130', 'Type 2: 5 units @ $892'] Sources source note live | |||||||||||
| 1121 S 46th St | not documented in local trove (checked 2026-10-06) | $599,000 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | |||||||
Asset class Multi-Family Units / SF 5 units Opex assumption if implied listing-stated (no opex build needed) Verbatim evidence unit mix with rents: Type 1: 3 units @ $1,250; Type 2: ? units @ $1,600; Type 3: ? units @ $995; Type 4: ? units @ $995 | 1121 S 46th St, West Milwaukee, WI 53214 - Fantastic investment opportunity! This all-brick 5-unit multifamily property sits on a desirable corner lot and is already rented, offering immediate cash flow from day one. The property features four 2-bedroom units and one 1-bedroom unit, providing a versatile mix that appeals to a variety of tenants. A full basement and 2-car garage add valuable storag | ['Type 1: 3 units @ $1,250', 'Type 2: ? units @ $1,600', 'Type 3: ? units @ $995', 'Type 4: ? units @ $995'] Sources source note live | |||||||||||
| 1308 N Astor St | not documented in local trove (checked 2026-10-06) | $595,000 | $28,563 | 4.80% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 3 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence St, Milwaukee, WI 53202 - Well maintained cream city brick 3 family in Milwaukee's desirable Lower East Side. Fully leased through 2027, the property generates $49,440 in annual rental income, with tenants responsible for all utilit | 1308 N Astor St, Milwaukee, WI 53202 - Well maintained cream city brick 3 family in Milwaukee's desirable Lower East Side. Fully leased through 2027, the property generates $49,440 in annual rental income, with tenants responsible for all utilities. The front lower unit was remodeled in 2021, the rear lower unit was remodeled in 2022, and each unit features its own in-unit laundry. Additional high | ['Type 1: 1 units @ $1,825', 'Type 2: 1 units @ $1,350', 'Type 3: 1 units @ $995'] Sources source note live | |||||||||||
| 2767 N Holton St | not documented in local trove (checked 2026-10-06) | $579,000 | $40,193 | 6.94% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 6 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence 2767 N Holton St, Milwaukee, WI 53212 - Fully occupied brick 6 unit apartment building. All units are large 2BR 1BA with natural hardwoods and moldings throughout. | 2767 N Holton St, Milwaukee, WI 53212 - Fully occupied brick 6 unit apartment building. All units are large 2BR 1BA with natural hardwoods and moldings throughout. Off street parking for 6 cars in back. Tenants pay their own gas and electric. See offering memorandum for financials. | ['Type 1: 6 units @ $978'] Sources source note live | |||||||||||
| 6139 W Appleton Ave 6143 | not documented in local trove (checked 2026-10-06) | $570,000 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | |||||||
Asset class Multi-Family Units / SF 7 units Opex assumption if implied listing-stated (no opex build needed) Verbatim evidence unit mix with rents: Type 1: 1 units @ $1,100; Type 2: 1 units @ $700; Type 3: 1 units @ $650; Type 4: 1 units @ $750 | 6139 W Appleton Ave 6143, Milwaukee, WI 53210 - Back on the market after the previous buyer's financing fell through. Their loss is your gain, don't miss your opportunity to own this great investment property before it's gone again! Located in a high traffic area with great visibility throughout the day, this property has undergone extensive improvements (see docs tab for complete list), The prope | ['Type 1: 1 units @ $1,100', 'Type 2: 1 units @ $700', 'Type 3: 1 units @ $650', 'Type 4: 1 units @ $750'] Sources source note live | |||||||||||
| 1976 N Farwell Ave 1978 | not documented in local trove (checked 2026-10-06) | $550,000 | $31,953 | 5.81% (implied (rent roll, unit-mix roll (ESTIMATED: one unit per listed rent line, type counts missing/irreconcilable in MLS, checked 2026-10-06))) | |||||||
Asset class Multi-Family Units / SF 3 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 3 units @ $2,550; Type 2: ? units @ $840; Type 3: ? units @ $1,275 | 1976 N Farwell Ave 1978, Milwaukee, WI 53202 - First time available in a generation! This iconic mixed-use property occupies one of Milwaukee's premier East Side corners at Lafayette Place and Farwell Avenue. Built in the 1890s, this historic building features a highly visible commercial storefront paired with two residential apartments (1 BR/1 BA and 3 BR/2 BA), creating multiple income streams i | ['Type 1: 3 units @ $2,550', 'Type 2: ? units @ $840', 'Type 3: ? units @ $1,275'] Sources source note live | |||||||||||
| 3137 S Howell Ave | not documented in local trove (checked 2026-10-06) | $499,900 | $31,953 | 6.39% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 4 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence 3137 S Howell Ave, Milwaukee, WI 53207 - Great investment opportunity. Fully leased with great long term tenants. Leases are all month to month. Property is located in the a great Bay View neig | 3137 S Howell Ave, Milwaukee, WI 53207 - Great investment opportunity. Fully leased with great long term tenants. Leases are all month to month. Property is located in the a great Bay View neighborhood across from Humboldt Park and within walking distance of many trendy bars and restaurants. Home consists of two 1 bedroom 1 bath units and two 2 bedroom 1 bath units. Some hardwood floors. The prope | ['Type 1: 1 units @ $1,050', 'Type 2: 1 units @ $1,015', 'Type 3: 1 units @ $1,350', 'Type 4: 1 units @ $1,250'] Sources source note live | |||||||||||
| 1916 E Webster Pl 1918, 1918A | not documented in local trove (checked 2026-10-06) | $499,000 | $24,248 | 4.86% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 3 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 1 units @ $1,675; Type 2: 1 units @ $805; Type 3: 1 units @ $1,060 | 1916 E Webster Pl 1918, 1918A, Milwaukee, WI 53211 - Turnkey 3-unit multifamily on Milwaukee's desirable East Side, fully rented and ready to perform from day one. Unit mix includes a unique 4-bed/2-bath unit with in unit washer and dryer, a 2-bed/1-bath, and a 1-bed/1-bath. Each unit features separate entrances and mechanicals, with a mix of hardwood flooring and carpet throughout. Walking distan | ['Type 1: 1 units @ $1,675', 'Type 2: 1 units @ $805', 'Type 3: 1 units @ $1,060'] Sources source note live local: -1918A-Milwaukee-WI-53211/1979382-METRO | |||||||||||
| 2560 N 41st St 2562 | not documented in local trove (checked 2026-10-06) | $495,000 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | |||||||
Asset class Multi-Family Units / SF 8 units Opex assumption if implied listing-stated (no opex build needed) Verbatim evidence ultifamily portfolio consisting of four well maintained duplexes offering immediate cash flow. Each units are currently leased at $1,000 per month. All units are professionally managed, making this a truly hands off investment. Strong r | 2560 N 41st St 2562, Milwaukee, WI 53210 - Turnkey 6 unit multifamily portfolio consisting of four well maintained duplexes offering immediate cash flow. Each units are currently leased at $1,000 per month. All units are professionally managed, making this a truly hands off investment. Strong rental demand supports consistent occupancy and long term stability. Ideal for investors seeking scalable | ['Type 1: 2 units @ $1,000', 'Type 2: 2 units @ $1,000', 'Type 3: 2 units @ $1,000'] Sources source note live | |||||||||||
| 2520 N Murray Ave 2522 | not documented in local trove (checked 2026-10-06) | $474,000 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | |||||||
Asset class Multi-Family Units / SF 4 units Opex assumption if implied listing-stated (no opex build needed) Verbatim evidence unit mix with rents: Type 1: 1 units @ $850; Type 2: 1 units @ $850; Type 3: 1 units @ ?; Type 4: 1 units @ ? | 2520 N Murray Ave 2522, Milwaukee, WI 53211 - Strong investment opportunity on Milwaukee's Eastside. This well maintained 4-family features identical units with private entrances & separate heat and electric utilities, minimizing owner expenses. Low maintenance exterior and a side driveway with approximately six parking spaces add to operational ease. Rents are currently below market, offering imm | ['Type 1: 1 units @ $850', 'Type 2: 1 units @ $850', 'Type 3: 1 units @ ?', 'Type 4: 1 units @ ?'] Sources source note live | |||||||||||
| 2900 W Arthur Ave 2902 | not documented in local trove (checked 2026-10-06) | $467,500 | $33,186 | 7.10% (implied (rent roll, stated-total (monthly))) | |||||||
Asset class Multi-Family Units / SF 5 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 1 units @ $825; Type 2: 1 units @ $1,350; Type 3: 1 units @ $970; Type 4: 2 units @ $850 | 2900 W Arthur Ave 2902, Milwaukee, WI 53215 - This MIXED USE, occupied 5-unit building is super well maintained and earns $4,845 per month in rent. There is a well established barber shop in the commercial unit, plus 4 nice apartments and a one-car garage. The units are all large and bright. Traditional old-world woodwork combines with updated mechanicals to make each unit a nice place to live or | ['Type 1: 1 units @ $825', 'Type 2: 1 units @ $1,350', 'Type 3: 1 units @ $970', 'Type 4: 2 units @ $850'] Sources source note live | |||||||||||
| 4203 N 91st St | not documented in local trove (checked 2026-10-06) | $455,000 | $27,878 | 6.13% (implied (rent roll, unit-mix roll (ESTIMATED: one unit per listed rent line, type counts missing/irreconcilable in MLS, checked 2026-10-06))) | |||||||
Asset class Multi-Family Units / SF 4 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 4 units @ $995; Type 2: ? units @ $1,050; Type 3: ? units @ $1,050; Type 4: ? units @ $975 | 4203 N 91st St, Milwaukee, WI 53222 - Great opportunity to own a FULLY RENTED and RARE 2 bed 2 FULL bath multifamily property with immediate cash flow! This all brick building features low maintenance exterior, clean and spacious units with 4 garage spaces, 2 additional outside parking spaces and basement storage units. Furnaces and water heaters replaced in 2025, Roof replaced in 2016 , Electrica | ['Type 1: 4 units @ $995', 'Type 2: ? units @ $1,050', 'Type 3: ? units @ $1,050', 'Type 4: ? units @ $975'] Sources source note live | |||||||||||
| 3925 W Greenfield Ave | not documented in local trove (checked 2026-10-06) | $400,000 | $25,515 | 6.38% (implied (rent roll, unit-mix roll (ESTIMATED: one unit per listed rent line, type counts missing/irreconcilable in MLS, checked 2026-10-06))) | |||||||
Asset class Multi-Family Units / SF 4 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 1 units @ $625; Type 2: 2 units @ $750; Type 3: 1 units @ $950; Type 4: 1 units @ $1,400 | 3925 W Greenfield Ave, Milwaukee, WI 53215 - Stop right here! This is a rare multi-family investment opportunity and it awaits a new investor!--This property features two duplexes on one lot!(4 total units) And they're all on a single, consolidated lot with just one tax bill to manage. Conveniently located just three blocks from Miller Parkway, the tenants can enjoy easy access to a wide range of | ['Type 1: 1 units @ $625', 'Type 2: 2 units @ $750', 'Type 3: 1 units @ $950', 'Type 4: 1 units @ $1,400'] Sources source note live | |||||||||||
| 2208 W Locust St | not documented in local trove (checked 2026-10-06) | $399,999 | $36,988 | 9.25% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 6 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence 2208 W Locust St, Milwaukee, WI 53206 - Fully occupied cash flowing brick 6 family building! Each spacious unit features 2 bedrooms 1 bathroom w separate dining and | 2208 W Locust St, Milwaukee, WI 53206 - Fully occupied cash flowing brick 6 family building! Each spacious unit features 2 bedrooms 1 bathroom w separate dining and living rooms. Owner has updated each unit with flooring, paint, light kitchen and bathroom renovations. Opportunity to expand and finish the demo'd unit in basement, this unit is same layout as the other 6 but would need a full rehab. | ['Type 1: 6 units @ $900'] Sources source note live | |||||||||||
| 5680 N 91st St | listed 2026-08-18, DOM 17 (live MLS check 2026-10-06) | $399,900 | $26,713 | 6.68% (implied (rent roll, unit-mix roll (ESTIMATED: one unit per listed rent line, type counts missing/irreconcilable in MLS, checked 2026-10-06))) | |||||||
Asset class Multi-Family Units / SF 4 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 4 units @ $1,000; Type 2: ? units @ $950; Type 3: ? units @ $1,000; Type 4: ? units @ $950 | 5680 N 91st St, Milwaukee, WI 53225 - Opportunity awaits with this well-maintained 4-family property featuring spacious 2-bedroom, 1-bath units and extensive recent improvements. Nearly all repairs and renovations have been completed within the last 24 months, including extensive tuckpointing and repairs/strengthening of the second-floor porches. Each unit offers an eat-in kitchen, individual forc | ['Type 1: 4 units @ $1,000', 'Type 2: ? units @ $950', 'Type 3: ? units @ $1,000', 'Type 4: ? units @ $950'] Sources source note live | |||||||||||
| 3069 N Sherman Blvd | not documented in local trove (checked 2026-10-06) | $399,900 | $35,241 | 8.81% (implied (rent roll, stated-total (monthly))) | |||||||
Asset class Multi-Family Units / SF 4 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence 3069 N Sherman Blvd, Milwaukee, WI 53210 - Add a strong income-producing property to your portfolio with this well-maintained Milwaukee investment opportunity. The property currently | 3069 N Sherman Blvd, Milwaukee, WI 53210 - Add a strong income-producing property to your portfolio with this well-maintained Milwaukee investment opportunity. The property currently generates approximately $5,145 per month in rental income, providing solid in-place cash flow from day one. The units have been mostly updated, offering an attractive opportunity for investors. Improvements throughout | ['Type 1: 1 units @ $1,250', 'Type 2: 1 units @ $1,245', 'Type 3: 1 units @ $1,250', 'Type 4: 1 units @ $1,400'] Sources source note live | |||||||||||
| 5710 N 91st St | not documented in local trove (checked 2026-10-06) | $399,900 | $26,713 | 6.68% (implied (rent roll, unit-mix roll (ESTIMATED: one unit per listed rent line, type counts missing/irreconcilable in MLS, checked 2026-10-06))) | |||||||
Asset class Multi-Family Units / SF 4 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 4 units @ $1,000; Type 2: ? units @ $950; Type 3: ? units @ $1,000; Type 4: ? units @ $950 | 5710 N 91st St, Milwaukee, WI 53225 - Opportunity awaits with this well-maintained 4-family property featuring spacious 2-bedroom, 1-bath units and extensive recent improvements. Nearly all repairs and renovations have been completed within the last 24 months, including extensive tuckpointing and repairs/strengthening of the second-floor porches. Each unit offers an eat-in kitchen, individual forc | ['Type 1: 4 units @ $1,000', 'Type 2: ? units @ $950', 'Type 3: ? units @ $1,000', 'Type 4: ? units @ $950'] Sources source note live | |||||||||||
| 5750 N 91st St | not documented in local trove (checked 2026-10-06) | $399,900 | $26,371 | 6.59% (implied (rent roll, unit-mix roll (ESTIMATED: one unit per listed rent line, type counts missing/irreconcilable in MLS, checked 2026-10-06))) | |||||||
Asset class Multi-Family Units / SF 4 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 4 units @ $950; Type 2: ? units @ $1,000; Type 3: ? units @ $950; Type 4: ? units @ $950 | 5750 N 91st St, Milwaukee, WI 53225 - Opportunity awaits with this well-maintained 4-family property featuring spacious 2-bedroom, 1-bath units and extensive recent improvements. Nearly all repairs and renovations have been completed within the last 24 months, including extensive tuckpointing and repairs/strengthening of the second-floor porches. Each unit offers an eat-in kitchen, individual forc | ['Type 1: 4 units @ $950', 'Type 2: ? units @ $1,000', 'Type 3: ? units @ $950', 'Type 4: ? units @ $950'] Sources source note live | |||||||||||
| 3654 E Squire Ave | not documented in local trove (checked 2026-10-06) | $399,000 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | |||||||
Asset class Multi-Family Units / SF 4 units Opex assumption if implied listing-stated (no opex build needed) Verbatim evidence rental income and a location close to the lake, this property offers an excellent opportunity to add a solid income-producing asset to your portfolio. Whether you're an experienced investor or looking to expand your holdings, this prop | 3654 E Squire Ave, Cudahy, WI 53110 - Investor opportunity near Lake Michigan! This well-maintained 4-unit multifamily property is currently partially rented (2 units rented and 2 vacants) and offers a desirable mix of three 2-bedroom apartments and one 1-bedroom apartment. With four units generating rental income and a location close to the lake, this property offers an excellent opportunity to a | ['Type 1: 3 units @ $1,250', 'Type 2: ? units @ $1,250'] Sources source note live | |||||||||||
| 9226 W Sheridan Ave | not documented in local trove (checked 2026-10-06) | $395,000 | $25,344 | 6.42% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 4 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence $390,000 / 4 Units / Built in 1959 Calling all investors! This fully occupied 4-unit property in Milwaukee offers a fantastic opportunity to add an income-producing property to your portfolio. Sources source note live | |||||||||||
| 5730 N 91st St | not documented in local trove (checked 2026-10-06) | $385,000 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | |||||||
Asset class Multi-Family Units / SF 4 units Opex assumption if implied listing-stated (no opex build needed) Verbatim evidence unit mix with rents: Type 1: 1 units @ $895; Type 3: ? units @ $850; Type 4: ? units @ $875 | 5730 N 91st St, Milwaukee, WI 53225 - Back on market due to buyer financing issue! New drain tile just completed! Wonderful four family in a convenient Milwaukee location! This great property offers four two bedroom one bathroom units, each with large windows and ample space. One unit has been recently updated with new paint and carpet throughout. The full basement offers storage area and laundry | ['Type 1: 1 units @ $895', 'Type 3: ? units @ $850', 'Type 4: ? units @ $875'] Sources source note live | |||||||||||
| 4480 N Hopkins St | not documented in local trove (checked 2026-10-06) | $360,000 | $34,419 | 9.56% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 6 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence d from the ground up last year with all new panels & service! Units went thru rent ready renovations prior to current tenant occupancy (unit interior pictures reflect before tenants moved in) Attractive common areas, garage + big park | 4480 N Hopkins St, Milwaukee, WI 53209 - Brick apartment building with 6 rented units and great mechanicals is ready for it's next owner. Rents ranging between 800-875/month, newer boiler, roof, and water heater, electrical fully replaced from the ground up last year with all new panels & service! Units went thru rent ready renovations prior to current tenant occupancy (unit interior pictures refl | ['Type 1: 3 units @ $850', 'Type 2: 1 units @ $875', 'Type 3: 2 units @ $800'] Sources source note live | |||||||||||
| 3738 E Pulaski Ave | not documented in local trove (checked 2026-10-06) | $349,900 | $16,268 | 4.65% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 3 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 1 units @ $650; Type 2: 1 units @ $1,100; Type 3: 1 units @ $625 | 3738 E Pulaski Ave, Cudahy, WI 53110 - Turnkey, three unit Duplex+ just blocks from the lakefront! 2/3 units are currently rented with MTM leases. $2,400 in monthly revenue when fully rented. NEW ROOF, porch, and front staircase as of 2026. New flooring in main floor unit as of 9/17/2026. Schedule a showing today, opportunities like this do not last long! | ['Type 1: 1 units @ $650', 'Type 2: 1 units @ $1,100', 'Type 3: 1 units @ $625'] Sources source note live | |||||||||||
| 5101 N 49th St | not documented in local trove (checked 2026-10-06) | $339,900 | $25,241 | 7.43% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 4 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 1 units @ $1,050; Type 2: 1 units @ $850; Type 3: 1 units @ $935; Type 4: 1 units @ $850 | 5101 N 49th St, Milwaukee, WI 53218 - This 4 unit multi family property offers steady rental income in a well established Milwaukee neighborhood. The building offers off street parking for residents and a coin operated laundry onsite, both amenities that support tenant retention. Nearby, residents can reach McGovern Park for green space and recreation, or Harriet Tubman Park for playgrounds and wa | ['Type 1: 1 units @ $1,050', 'Type 2: 1 units @ $850', 'Type 3: 1 units @ $935', 'Type 4: 1 units @ $850'] Sources source note live | |||||||||||
| 1235 Michigan Ave | not documented in local trove (checked 2026-10-06) | $335,000 | $21,816 | 6.51% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 4 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 1 units @ $845; Type 2: 1 units @ $850; Type 3: 1 units @ $895; Type 4: 1 units @ $595 | 1235 Michigan Ave, South Milwaukee, WI 53172 - Historic character meets investment potential in this former church converted into a 4-unit multifamily property. The building features a desirable unit mix of two 2-bedroom units and two 1-bedroom units, appealing to a broad tenant base. Each unit has separately metered utilities for efficient management and expense control. A side parking lot offers | ['Type 1: 1 units @ $845', 'Type 2: 1 units @ $850', 'Type 3: 1 units @ $895', 'Type 4: 1 units @ $595'] Sources source note live | |||||||||||
| 3273 N 17th St | not documented in local trove (checked 2026-10-06) | $328,000 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | |||||||
Asset class Multi-Family Units / SF 6 units Opex assumption if implied listing-stated (no opex build needed) Verbatim evidence Six units don't come up often! Check out this well maintained brick 6-unit apartment complex offers a stable income-producing asset with clear upside potential. Most units have been updated and each unit has its own separate gas and el | 3273 N 17th St, Milwaukee, WI 53206 - Six units don't come up often! Check out this well maintained brick 6-unit apartment complex offers a stable income-producing asset with clear upside potential. Most units have been updated and each unit has its own separate gas and electric meter, keeping utility costs off the owner's plate. Most of the building's mechanical systems have been updated. Adding | ['Type 1: 1 units @ $750', 'Type 2: 1 units @ $796', 'Type 3: 1 units @ $750', 'Type 4: 1 units @ $795'] Sources source note live | |||||||||||
| 2904 W Arthur Ave 2906 | not documented in local trove (checked 2026-10-06) | $325,000 | $23,289 | 7.17% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 4 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 1 units @ $700; Type 2: 1 units @ $1,050; Type 3: 1 units @ $850; Type 4: 1 units @ $800 | 2904 W Arthur Ave 2906, Milwaukee, WI 53215 - Great Location at 29th & Forest Home, 4 blocks south of Lincoln. This MIXED USE, fully-occupied 4-unit building is super well maintained and earns $3,350 per month in rent with room to improve. There is a well established salon retail store at the street, plus 3 large apartments. Two apartments are duplex-style in the store building, and the 3 bedroom | ['Type 1: 1 units @ $700', 'Type 2: 1 units @ $1,050', 'Type 3: 1 units @ $850', 'Type 4: 1 units @ $800'] Sources source note live | |||||||||||
| 813 S Shea Ave | not documented in local trove (checked 2026-10-06) | $320,000 | $22,261 | 6.96% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 4 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence at $850 per month and one unit at $700, generating $3,250 in monthly gross income and $39,000 annually. This income-producing property offers spacious units with functional layouts, large living areas, hardwood floors in select rooms, | 813 S Shea Ave, Milwaukee, WI 53215 - Solid 4-unit investment opportunity on Milwaukee's South Side! Fully rented with three units leased at $850 per month and one unit at $700, generating $3,250 in monthly gross income and $39,000 annually. This income-producing property offers spacious units with functional layouts, large living areas, hardwood floors in select rooms, painted interiors in select | ['Type 1: 1 units @ $850', 'Type 2: 1 units @ $850', 'Type 3: 1 units @ $850', 'Type 4: 1 units @ $700'] Sources source note live | |||||||||||
| 5112 W Center St | not documented in local trove (checked 2026-10-06) | $300,000 | $23,289 | 7.76% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 4 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 3 units @ $850; Type 2: 1 units @ $850 | 5112 W Center St, Milwaukee, WI 53210 - Large Brick Mix Use Multi Family. 3 1 bedrooms units and 1 commercial unit. 1 residential unit is remodeled and the other 2 are ready for your finishing touches. Also listed as commercial MLS# 1975111 | ['Type 1: 3 units @ $850', 'Type 2: 1 units @ $850'] Sources source note live | |||||||||||
| 3052 N Buffum St 1-4 | not documented in local trove (checked 2026-10-06) | $299,900 | $31,364 | 10.46% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 4 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 1 units @ $1,300; Type 2: 1 units @ $1,000; Type 3: 1 units @ $1,200; Type 4: 1 units @ $1,079 | 3052 N Buffum St 1-4, Milwaukee, WI 53212 - This recently remodeled 4-unit, multi-family property nestled directly between Harambee and Riverwest neighborhoods is a great property to add to your portfolio. With three of the four units currently rented, this property gives you the opportunity to generate rental income while owning the building you call home. | ['Type 1: 1 units @ $1,300', 'Type 2: 1 units @ $1,000', 'Type 3: 1 units @ $1,200', 'Type 4: 1 units @ $1,079'] Sources source note live | |||||||||||
| 1060 N 47th St | not documented in local trove (checked 2026-10-06) | $264,000 | $15,583 | 5.90% (implied (rent roll, unit-mix roll (ESTIMATED: one unit per listed rent line, type counts missing/irreconcilable in MLS, checked 2026-10-06))) | |||||||
Asset class Multi-Family Units / SF 3 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 3 units @ $875; Type 2: ? units @ $850; Type 3: ? units @ $550 | 1060 N 47th St, Milwaukee, WI 53208 - Well-maintained and fully rented 3-unit property in Milwaukee offering an excellent investment opportunity. The property features two spacious 2-bedroom units, each with a den, plus a studio/1-bedroom unit. Additional amenities include a detached garage, off-street parking, a large yard, and basement storage. Located on a quiet street with easy access to local | ['Type 1: 3 units @ $875', 'Type 2: ? units @ $850', 'Type 3: ? units @ $550'] Sources source note live | |||||||||||
| 2773 N 54th St | not documented in local trove (checked 2026-10-06) | $250,000 | $21,919 | 8.77% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 3 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence 2773 N 54th St, Milwaukee, WI 53210 - Great investment opportunity at 2773 N 54th St! This fully occupied 3-unit property offers three spacious 2-bedroom apartments, each with a full bath and comfortable living room | 2773 N 54th St, Milwaukee, WI 53210 - Great investment opportunity at 2773 N 54th St! This fully occupied 3-unit property offers three spacious 2-bedroom apartments, each with a full bath and comfortable living room; the main-floor and upper units also feature dining rooms. An impressive garage setup provides excellent parking and storage, including a 3-car garage and separate 1-car garage with wo | ['Type 1: 1 units @ $1,000', 'Type 2: 1 units @ $1,000', 'Type 3: 1 units @ $1,200'] Sources source note live | |||||||||||
| 6221 W Thurston Ct 6221A/6221B | not documented in local trove (checked 2026-10-06) | $249,999 | $18,768 | 7.51% (implied (rent roll, stated-total (monthly))) | |||||||
Asset class Multi-Family Units / SF 3 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 1 units @ $1,200; Type 2: 2 units @ $700; Type 3: ? units @ $840 | 6221 W Thurston Ct 6221A/6221B, Milwaukee, WI 53218 - Brick triplex with Cashflow potential! This property now has 1 vacancy for the savvy investor who would like to owner occupy while renting the upper units to assist in monthly expenses. Property was previously fully rented at $2,740/month exceeding the 1percent rule. Two 1bedroom units upstairs and a 2bedroom downstairs with a flexroom most rec | ['Type 1: 1 units @ $1,200', 'Type 2: 2 units @ $700', 'Type 3: ? units @ $840'] Sources source note live | |||||||||||
| 1522 S 15th St | not documented in local trove (checked 2026-10-06) | $239,900 | $18,494 | 7.71% (implied (rent roll, unit-mix roll (ESTIMATED: one unit per listed rent line, type counts missing/irreconcilable in MLS, checked 2026-10-06))) | |||||||
Asset class Multi-Family Units / SF 3 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 1 units @ $700; Type 2: 1 units @ $700; Type 3: 2 units @ $1,300 | 1522 S 15th St, Milwaukee, WI 53204 - MUST SEE! Excellent 3-unit investment opportunity to add to your portfolio.This property includes a spacious duplex at the front of the lot and a single-family home at the back (zoned RT4). The duplex features a 2BR/1BA units both renting for $700/mo. The single-family home is a 3BR/2BA renting for $1300/mo. Can't pass this one by. Make an offer. | ['Type 1: 1 units @ $700', 'Type 2: 1 units @ $700', 'Type 3: 2 units @ $1,300'] Sources source note live | |||||||||||
| 1558 S 13th St 1560/1562 | not documented in local trove (checked 2026-10-06) | $234,999 | $19,110 | 8.13% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 3 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 1 units @ $700; Type 2: 1 units @ $1,090; Type 3: 1 units @ $1,000 | 1558 S 13th St 1560/1562, Milwaukee, WI 53204 - LIVE HERE. LIVE HAPPY. Make this southside Milwaukee Triplex home or an investment! Three units. Spacious rooms. Eat-in kitchens. Extra rooms. Large yard. Not far from Historic Mitchell St., freeway, and Bayview. Unit/room sizes are approx. and not verified. | ['Type 1: 1 units @ $700', 'Type 2: 1 units @ $1,090', 'Type 3: 1 units @ $1,000'] Sources source note live | |||||||||||
| 2632 N 2nd St 2634 | not documented in local trove (checked 2026-10-06) | $230,000 | $17,706 | 7.70% (implied (rent roll, unit-mix roll (ESTIMATED: one unit per listed rent line, type counts missing/irreconcilable in MLS, checked 2026-10-06))) | |||||||
Asset class Multi-Family Units / SF 3 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence al income. The property is already producing rental income and offers investors the opportunity to acquire an income-producing asset with immediate cash flow and potential for future value-add improvements. The property features a class | 2632 N 2nd St 2634, Milwaukee, WI 53212 - Cash-flowing 3-unit investment opportunity in Milwaukee's Harambee neighborhood! This spacious 4,324 sq. ft. multifamily property offers 7 bedrooms and 3 bathrooms across three units and is being sold with tenants already in place. All three units are currently rented, generating a combined $2,585/month, or $31,020/year in gross scheduled rental income. Th | ['Type 1: 3 units @ $800', 'Type 2: 3 units @ $1,150', 'Type 3: 1 units @ $635'] Sources source note live | |||||||||||
| 1538 S 9th St | not documented in local trove (checked 2026-10-06) | $225,000 | $9,076 | 4.03% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 3 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 1 units @ $600; Type 2: 1 units @ $300; Type 3: 1 units @ $425 | 1538 S 9th St, Milwaukee, WI 53204 - Long time family owned 3 unit investment property has been thoroughly maintained for decades. Currently all units tenant occupied with long term month to month tenants. Front duplex has two bedrooms in the upper and lower units. Full basement with high efficiency furnace (2nd furnace in attic), separate circuit panels, and 2 water heaters. Back 2 bedroom cottag | ['Type 1: 1 units @ $600', 'Type 2: 1 units @ $300', 'Type 3: 1 units @ $425'] Sources source note live | |||||||||||
| 2421 S 5th Pl | not documented in local trove (checked 2026-10-06) | $219,900 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | |||||||
Asset class Multi-Family Units / SF 4 units Opex assumption if implied listing-stated (no opex build needed) Verbatim evidence unit mix with rents: Type 1: 1 units @ ?; Type 2: ? units @ $700; Type 4: ? units @ $850 | 2421 S 5th Pl, Milwaukee, WI 53207 - Add to your portfolio with this cash-flowing 4-family investment property on Milwaukee's South Side! Professionally managed and offering a versatile unit mix, the property features one studio, two 1-bedroom units, and one 2-bedroom unit. Two units are currently rent-ready, offering an opportunity to place tenants and increase income right away. If you're lookin | ['Type 1: 1 units @ ?', 'Type 2: ? units @ $700', 'Type 4: ? units @ $850'] Sources source note live | |||||||||||
| 516 N 28th St 518 | not documented in local trove (checked 2026-10-06) | $219,900 | $15,412 | 7.01% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 3 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence purchase your first income-producing property, this is an opportunity you won't want to miss. All three units currently leased. | 516 N 28th St 518, Milwaukee, WI 53208 - Great investment opportunity! Whether you're looking to expand your investment portfolio or purchase your first income-producing property, this is an opportunity you won't want to miss. All three units currently leased. | ['Type 1: 1 units @ $700', 'Type 2: 1 units @ $700', 'Type 3: 1 units @ $850'] Sources source note live | |||||||||||
| 1978 S 12th St | not documented in local trove (checked 2026-10-06) | $214,900 | $14,384 | 6.69% (implied (rent roll, unit-mix roll (counts documented, sum reconciles to unit total))) | |||||||
Asset class Multi-Family Units / SF 2 units Opex assumption if implied implied caps = GPI - 5.72% vacancy - r*GPI at r in {35%, 37.2%, 45%} (appraisal build-up) Verbatim evidence unit mix with rents: Type 1: 1 units @ $1,500; Type 2: 1 units @ $600 | 1978 S 12th St, Milwaukee, WI 53204 - Fully rented duplex with income already in place. Upper unit is a 3-bed, 1-bath with a primary suite, walk-in closet, and flex den that functions as a 4th bedroom. Lower unit offers 2 beds, 1 bath. Updated kitchen with epoxy countertops and a renovated bath with walk-in glass shower help retention. Big-ticket items handled: roof and upper carpet (2022), window | ['Type 1: 1 units @ $1,500', 'Type 2: 1 units @ $600'] Sources source note live | |||||||||||
| 936 West Greenfield Avenue | not documented in local trove (checked 2026-10-06) | $750,000 | no evidence found (2026-10-06) | 8.80% (stated) | |||||||
Asset class Office, Mixed Use Units / SF **** units Opex assumption if implied listing-stated (no opex build needed) Verbatim evidence 8.8 Sources source note live | |||||||||||
| 2553-2565 S. Logan Ave. | 2025 taxes; 2026 assessment (Ogden flyer; checked 2026-10-06) | $810,000 | no evidence found (2026-10-06) | 6.25% (stated) | |||||||
Asset class Multifamily Units / SF 5 (Ogden flyer: 'Five-unit Apartment Building') units Opex assumption if implied listing-stated (no opex build needed) Verbatim evidence BAY VIEW ROW HOUSES 2553-2565 S. LOGAN AVE. BAY VIEW, WI 53207 SALE PRICE: $810,000 | COMMENTS: Five -unit Apartment Building, with LR/DR, Kitchen, 3 BR, 1 BA Two stories, unfi nished basement, exterior brick, vinyl siding, roof asphalt shingles, individual furnaces, washer/ dryer hookups, 40-gallon water heaters, each unit. | First time on market since 1970’s. Long term tenants. Tenants pay own utilities, including water/ sewer. | REAL ESTATE TAXES: $18,352.59 (2025) Sources source note live | |||||||||||
| 771 N JEFFERSON ST # 773 | sold after listing (warranty deed recorded 2026); listing checked 2026-10-06 | $935,000 | no evidence found (2026-10-06) | 6.34% (stated 6.34%) | |||||||
Asset class unknown Units / SF 8 units Opex assumption if implied listing-stated (no opex build needed) Verbatim evidence Located in the Heart of downtown Milwaukee. 5 apartments consisting of 3 -1 bedroom units, 1 studio and 1 2 bedroom and 2 store fronts. An opurtonity to own a clasic down town building | Mixed Use | 6.34% CAP | 7,144 SF | Good rental income | conveyance date 01/30/2023, recorded 02/03/2023, $935,000, Fox Properties LLC -> D&A Investment Group LLC Sources source note (local documentary source) local: /Users/markkvetkovskiy/Projects/jay-orcholski-booth-1031/offmarket/deep/records/cffec230141b.json | |||||||||||
| 2905 N Bartlett Ave, Milwaukee 53211 | not documented in local trove (checked 2026-10-06) | $1,700,000 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | |||||||
Asset class None Units / SF None units Opex assumption if implied listing-stated (no opex build needed) Verbatim evidence Occupied 7-unit apartment building: MLS unit mix (Unit 1 = 6 units 3+BR, Unit 2 = 1 unit 1-2BR) and live leasing as 'Richland Apartments on Bartlett' at $1,595/mo, 2 of 7 units available (Trulia/Zumper) Sources source note (local documentary source) local: /Users/markkvetkovskiy/Projects/jay-orcholski-booth-1031/daily/evidence/043.txt | |||||||||||
| 2254-2264 S Kinnickinnic Ave (Bayview Value-Add Retail, M&M listing 184775) | listing active 2025-08-18 (CARW firstActiveDate); Wayback capture 2025-09-11; re-opened 2026-10-06 | $1,520,000 | $39,368 | 2.59% (stated on M&M listing page (asking)) | |||||||
Asset class retail (3 NNN units: Toppers Pizza, Babe's Ice Cream + 1) Units / SF 3 units / 7,004 RSF Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Listing Price: $1,520,000 ... Cap Rate 2.59% ... Three Occupied Units with Triple Net Leases Long Term Tenancy by Toppers Pizza & Babe’s Ice Cream ... Rentable SF 7,004 Sources source note live | |||||||||||
| Children's Wisconsin, 2561 N 29th St (M&M listing 304998) | asking as of re-open 2026-10-06 (live M&M listing) | $2,864,357 | $200,505 | 7.00% (stated on M&M listing page (asking)) | |||||||
Asset class retail (single-tenant medical, absolute net) Units / SF 1 tenant / SF not published (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Listing Price: $2,864,357 ... Cap Rate 7.00% ... Rent Per Square Feet $26.44 ... Lease Type Absolute Net Sources source note live | |||||||||||
| 2-Tenant Medical Center, 7950 N Port Washington Rd, Fox Point (Crexi 2361195, M&M) | listing activated 2026-02-23; sold 2026 (BizTimes); quotes re-opened 2026-10-06 | $4,491,125 | $323,361 | 7.20% (stated in listing title (7.2% Cap) at ask $4,491,125; implied at sale 8.08% on press-reported $4,000,000 (derived)) | |||||||
Asset class retail (medical + veterinary, 2 tenants, WALT 6.0 yrs) Units / SF 2 units / 15,601 SF Opex assumption if implied none for the stated cap (listing-stated); implied-at-sale reuses the same derived NOI Verbatim evidence Price Improvement! Mixed Use | 7.87% CAP Year One | ... Marcus & Millichap is pleased to present the opportunity to acquire a fee simple interest in a high-quality multi-tenant medical property located at 7950 N. Port Washington Road in Fox Point, Wisconsin. Sources source note live | |||||||||||
| Red Lobster, 2801 N Mayfair Rd, Wauwatosa (RETR Doc 11254288) | sold 2022-06-08 (RETR Doc 11254288); quote re-opened 2026-10-06 | $6,130,000 | $349,757 | 5.71% (implied going-in on documented NNN rent (tenant pays opex): rent / price) | |||||||
Asset class retail (single-tenant NNN, corporate credit) Units / SF 1 tenant / 7,468 SF on 1.70 ac Opex assumption if implied NNN (tenant pays opex; no landlord opex deduction applied) Verbatim evidence The property is subject to a 25-year Triple-Net (NNN) lease with 21 years remaining on the base term. The current rent is $349,757 and will continue to increase by 2.00% annually. Sources source note live | |||||||||||
| Sentry Foods, 7101 W Lisbon Ave (RETR Doc 11454969) | sold 2024-10-07 (RETR Doc 11454969); press quote re-opened 2026-10-06 | $1,250,000 | $99,250 | 7.94% (broker-quoted cap in M&M press release (QUOTE FLAGGED) at documented RETR price) | |||||||
Asset class retail (grocery, absolute net, 4.5 yrs remaining at sale) Units / SF 1 tenant / 25,154 SF on 2.3 ac Opex assumption if implied absolute net (tenant pays opex) Verbatim evidence “Although the sellers received strong off-market interest, we were able to increase the property’s value by $100,000 through a competitive marketing process, ultimately closing at 95% of the list price with a 7.94% cap rate,” said Ben Kohl, associate. Sources source note live | |||||||||||
| 1681-1683 N Van Buren St (DigiCOPY + Polished Nail Bar) | sold 2021-12 (reported 2021-12-30 per state records); quote re-opened 2026-10-06 | $1,540,000 | no evidence found (2026-10-06) | implied bounds from documented rents (SF split unpublished): 2.94-4.83% across opex 35/37.2/45% of EGI after 5.72% vacancy (estimated) | |||||||
Asset class retail (2 small storefronts, both NNN) Units / SF 2 units / 4,858 SF Opex assumption if implied opex applied as % of EGI after 5.72% blended vacancy (CORRECTED label 2026-10-06: mnm-study.json method text said "% of gross rent"; stored values reproduce as % of EGI) Verbatim evidence DigiCOPY’s base rent comes out to $25 per square foot, which will escalate to $27.23 per square foot by 2027. Polished’s rent is set at $18 per square foot. Sources source note live | |||||||||||
| The Cambridge Place (M&M listing 200156, 30 units) | asking as of capture 2026-10-06 16:49 (listing since removed from live M&M site; capture retained) | $4,597,000 | $283,635 | 6.17% (stated on M&M listing page (asking)) | |||||||
Asset class multifamily (30 units, extensively renovated, 95% occupied) Units / SF 30 units / 17,520 GSF Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Listing Price: $4,597,000 ... Cap Rate 6.17% ... Number of Units 30 ... GRM 10.26 ... Occupancy 95.0% ... Price/Unit $153,233 ... Price/Gross SF $262.39 ... Gross SF 17,520 Sources source note live | |||||||||||
| The Lodge, Waukesha (M&M listing 309783, 248 units) | asking as of capture 2026-10-06 16:52 (listing since removed from live M&M site; capture retained) | $55,443,000 | $3,010,555 | 5.43% (stated on M&M listing page (asking)) | |||||||
Asset class multifamily (248 units, suburban Waukesha, 100% occupied) Units / SF 248 units Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Listing Price: $55,443,000 ... Cap Rate 5.43% ... Number of Units 248 ... GRM 11.15 ... Occupancy 100.0% ... Price/Unit $223,560 Sources source note live | |||||||||||
| 1851-1853-1855 N. Humboldt Avenue (M&M listing 310241, 11 units) | asking as of capture 2026-10-06 16:52 (listing since removed from live M&M site; capture retained) | $1,645,000 | $114,163 | 6.94% (stated on M&M listing page (asking)) | |||||||
Asset class multifamily (11 units, multi-building, Lower East Side, 96% occupied) Units / SF 11 units / 8,857 GSF Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Listing Price: $1,645,000 ... Cap Rate 6.94% ... Number of Units 11 ... GRM 8.76 ... Occupancy 96.0% ... Price/Unit $149,545 ... Price/Gross SF $185.73 ... Gross SF 8,857 Sources source note live | |||||||||||
| Waukesha Industrial Portfolio (M&M listing 303996, 8 assets / 38 tenancies, Sussex) | asking as of capture 2026-10-06 16:51 (listing since removed from live M&M site; capture retained) | $18,000,000 | $1,333,800 | 7.41% (stated on M&M listing page (asking)) | |||||||
Asset class industrial (portfolio, 38 tenancies, no tenant >10% of rent) Units / SF 152,275 RSF on 10.00 ac Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Listing Price: $18,000,000 ... Cap Rate 7.41% ... Gross SF 152,275 ... Price/Gross SF $118.21 ... 38 tenancies across Eight assets, with no tenant exceeding 10% of portfolio rent; largest tenant is 9.6 percent. Sources source note live | |||||||||||
| VASA Fitness, 13995 W National Ave, New Berlin, WI 53151 (M&M listing 181286) | capture saved 2026-10-06 (P1i sitemap sweep); live M&M URL checked 2026-10-06 -> removed (SelectedPropertyNotFound redirect) | $13,379,500 | $936,565 | 7.00% (stated on M&M listing page (asking)) | |||||||
Asset class 62,024 SF single-tenant fitness (VASA Fitness), NNN, 15.3 yrs remaining, corporate guarantee Units / SF 62,024 SF Opex assumption if implied Triple Net (NNN) (tenant pays operating expenses) Verbatim evidence Listing Price: $13,379,500 ... Cap Rate 7.00% ... Tenant Name Vasa Fitness ... Years Remaining On Lease 15.3 ... Guarantor Corporate Guarantee ... Rentable SF 62,024 ... Lease Type Triple Net (NNN) ... Rent Per Square Feet $15.10 ... Marcus & Millichap is please to present VASA Fitness in New Berlin, WI. Gallery View Map Street View × VASA Fitness | New 15 Year NNN Lease | Milwaukee MSA Close Sources source note live | |||||||||||
| O'Reilly, 3405 W Fond du Lac Ave, Milwaukee, WI 53210 (M&M listing 302462) | capture saved 2026-10-06 (P1i sitemap sweep); live M&M URL checked 2026-10-06 -> removed (SelectedPropertyNotFound redirect) | $1,732,000 | $106,518 | 6.15% (stated on M&M listing page (asking)) | |||||||
Asset class 6,500 SF single-tenant retail (O'Reilly Auto Parts, built-to-suit 2020), double net to Dec 2034, corporate guarantee Units / SF 6,500 SF Opex assumption if implied Double Net (tenant pays operating expenses) Verbatim evidence Listing Price: $1,732,000 ... Cap Rate 6.15% ... Tenant Name O'Reilly ... Years Remaining On Lease 8.2 ... Guarantor Corporate Guarantee ... Rentable SF 6,500 ... Lease Type Double Net ... Rent Per Square Feet $16.38 ... Marcus & Millichap is pleased to present this O'Reilly Auto Parts in Milwaukee, WI. This was built-to-suit in 2020 and is secured by a long-term double net lease through Sources source note live | |||||||||||
| Checkers Ground Lease, 3431 W Fond du Lac Ave, Milwaukee, WI 53210 (M&M listing 303137) | capture saved 2026-10-06 (P1i sitemap sweep); live M&M URL checked 2026-10-06 -> removed (SelectedPropertyNotFound redirect) | $699,000 | $40,192 | 5.75% (stated on M&M listing page (asking)) | |||||||
Asset class 978 SF Checkers NNN ground lease, 13.9 yrs remaining, franchisee guarantee Units / SF 978 SF Opex assumption if implied NNN Ground Lease (tenant pays operating expenses) Verbatim evidence Listing Price: $699,000 ... Cap Rate 5.75% ... Tenant Name Checkers ... Years Remaining On Lease 13.9 ... Guarantor Franchisee Guarantee ... Rentable SF 978 ... Lease Type NNN Ground Lease ... Rent Per Square Feet $41.08 ... Marcus & Millichap is pleased to present this single-tenant Checkers with dual drive-thru. This location was built-to-suit in 1997 and Checkers signed a 20 year renewal Sources source note live | |||||||||||
| Hillside Office Center, 3960 Hillside Dr, Delafield, WI 53018 (M&M listing 171185) | capture saved 2026-10-06 (P1i sitemap sweep); live M&M URL checked 2026-10-06 -> removed (SelectedPropertyNotFound redirect) | $3,950,000 | $217,250 | 5.50% (stated on M&M listing page (asking)) | |||||||
Asset class 17,664 SF office center (Hillside Office Center), built 2000 Units / SF 17,664 SF Opex assumption if implied not published (derived NOI = cap x price only) Verbatim evidence Listing Price: $3,950,000 ... Cap Rate 5.50% ... Rentable SF 17,664 ... Lot Size 4.31 acres ... Year Built 2000 ... This 25,200 (Gross) SF office property in Delafield’s Hillside Business Park offers a stable, low management investment with strong I-94 frontage. The well-maintained Sources source note live | |||||||||||
| N60W14434 Kaul Ave, N60W14434 Kaul Ave, Menomonee Falls, WI 53051 (M&M listing 306599) | capture saved 2026-10-06 (P1i sitemap sweep); live M&M URL checked 2026-10-06 -> removed (SelectedPropertyNotFound redirect) | $1,675,000 | $133,162 | 7.95% (stated on M&M listing page (asking)) | |||||||
Asset class 15,365 SF industrial, built 1989 Units / SF 15,365 SF Opex assumption if implied not published (derived NOI = cap x price only) Verbatim evidence Listing Price: $1,675,000 ... Cap Rate 7.95% ... Lot Size 1.59 acres ... Year Built 1989 ... Rentable SF 15,365 ... This investment offers a 15,365 square foot 100 percent leased multi-tenant industrial asset located in Menomonee Falls, Wisconsin, one of the most sought-after Sources source note live | |||||||||||
| N59W14283 Bobolink Ave, N59W14283 Bobolink Ave, Menomonee Falls, WI 53051 (M&M listing 306601) | capture saved 2026-10-06 (P1i sitemap sweep); live M&M URL checked 2026-10-06 -> removed (SelectedPropertyNotFound redirect) | $595,000 | $37,247 | 6.26% (stated on M&M listing page (asking)) | |||||||
Asset class 5,000 SF industrial, built 1967 Units / SF 5,000 SF Opex assumption if implied not published (derived NOI = cap x price only) Verbatim evidence Listing Price: $595,000 ... Cap Rate 6.26% ... Lot Size 1.09 acres ... Year Built 1967 ... Rentable SF 5,000 ... This investment provides, a 5,008 square foot, 100 percent leased single tenant industrial asset located in Menomonee Falls, Wisconsin—one of the most desirable Sources source note live | |||||||||||
| Miracle Mile Shopping Center, 5655-5679 S 27th St, Milwaukee, WI 53221 (M&M listing 308003) | capture saved 2026-10-06 (P1i sitemap sweep); live M&M URL checked 2026-10-06 -> removed (SelectedPropertyNotFound redirect) | $7,900,000 | $657,280 | 8.32% (stated on M&M listing page (asking)) | |||||||
Asset class 93,056 SF neighborhood retail center (Miracle Mile Shopping Center), built 1958 Units / SF 93,056 SF Opex assumption if implied not published (derived NOI = cap x price only) Verbatim evidence Listing Price: $7,900,000 ... Cap Rate 8.32% ... Gross SF 93,056 ... Rentable SF 93,056 ... Price/Gross SF $84.90 ... Lot Size 6.00 acres ... Year Built 1958 ... Marcus & Millichap is pleased to present Miracle Mile Shopping Center. The center features two new long-term leases with Ollie’s Bargain Outlet and Palm Halal Market, Sources source note live | |||||||||||
| Eastside Portfolio, 2634 N Stowell Ave, Milwaukee, WI 53211 (M&M listing 301853) | capture saved 2026-10-06 (P1i sitemap sweep); live M&M URL checked 2026-10-06 -> removed (SelectedPropertyNotFound redirect) | $3,200,000 | $190,720 | 5.96% (stated on M&M listing page (asking)) | |||||||
Asset class 14-unit MF portfolio (2905 N Bartlett Ave + 2634 N Farwell Ave; listing address 2634 N Stowell Ave), 53211, 100% occupancy Units / SF 14 units Opex assumption if implied not published (derived NOI = cap x price only) Verbatim evidence Listing Price: $3,200,000 ... Cap Rate 5.96% ... Number of Units 14 ... GRM 10.82 ... Occupancy 100.0% ... Price/Unit $228,571 ... Marcus & Millichap is pleased to present a portfolio of multifamily properties located on Milwaukee’s highly desirable Eastside. Comprised of two apartment communities Sources source note live | |||||||||||
Market-wide context rows support the 7.2% to 8.5% band; they are context, not comps.
| Address or report | Date | Price | NOI | Cap rate | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 Marcus Millichap Investment Forecast (Q1 2021 book) | 2021-01 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | MF household growth ranking (2016-2020): Milwaukee 7,400 trailing-5-yr household growth (4th lowest of 50) | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence 2016-2020 Household Growth / Lowest Growth / Metro / Trailing-5-Year Total / Cleveland 500 / Pittsburgh 2,500 / San Jose 6,600 / Milwaukee 7,400 / New Haven-Fairfield County 11,100 Sources source note live | |||||||||||
| 2021 Marcus Millichap Investment Forecast (Q1 2021 book) | 2021-01 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | MF data summary, Milwaukee row (2017-2020): Employment growth 0.9%/0.4%/0.2%/-7.4%; completions 3,300/2,400/2,400/2,000 units; vacancy 4.8%/3.5% (2017-18), 3.5%/3.7% (2019-20); effective rent $1,068/$1,127/$1,172/$1,205; avg price/unit $81,200/$88,700/$90,000/$91,400 | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Milwaukee 0.9% 0.4% 0.2% -7.4% 3,300 2,400 2,400 2,000 4.8% 3.5% ... 3.5% 3.7% $1,068 $1,127 $1,172 $1,205 $81,200 $88,700 $90,000 $91,400 Milwaukee Sources source note live | |||||||||||
| 2021 Marcus Millichap Investment Forecast (Q1 2021 book) | 2021-01 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Retail data summary, Milwaukee row (2017-2020): completions 1,690/1,090/420/110 (000 sq ft); vacancy 5.3%/4.3%/4.5%/4.6%; asking rent $11.27/$12.18/$12.63/$12.67 per sq ft | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence 1,690 1,090 420 110 5.3% 4.3% 4.5% 4.6% $11.27 $12.18 $12.63 $12.67 Milwaukee Sources source note live | |||||||||||
| 2022 U.S. Multifamily Investment Forecast | 2022-01 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | MF cap rates by class/submarket: Class A/B (Downtown, Wauwatosa, West Allis, Brookfield): low- to mid-5% range; Class C (NW suburbs, I-41 corridor): first-year returns above 7% | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Investors seeking Class A/B apartments home in on Downtown neighborhoods as well as suburbs just west like Wauwatosa, West Allis and Brookfield, where cap rates in the low- to mid-5 percent range are common. Buyers chasing first-year returns above 7 percent favor Class C properties in northwest suburbs along the Interstate 41 corridor. Sources source note live local: mirror of marcusmillichap.com book | |||||||||||
| 2022 U.S. Multifamily Investment Forecast | 2022-01 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | MF return premium: avg first-year return 100+ bps above national average | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence a streak of annual rent gains dating back to 2011 and an average first-year return 100-plus basis points above the national average, out-of-state acquisitions remain limited. Sources source note live | |||||||||||
| 2022 U.S. Multifamily Investment Forecast | 2022-01 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Median home price trend: $269,000 (end 2019) to $339,000 (late 2021) | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence The median home price jumped from roughly $269,000 at the end of 2019 to $339,000 in the late stages of last year. Sources source note live | |||||||||||
| 2022 U.S. Multifamily Investment Forecast | 2022-01 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Buyer origin: Wisconsin buyers ~2/3 of buy-side activity over prior 2 years | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Investors from Wisconsin accounted for roughly two-thirds of buy-side activity over the past two years. Sources source note live | |||||||||||
| 2022 U.S. Multifamily Investment Forecast | 2022-01 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | MF 2022 forecast: Employment +2.6% (22,000 jobs); construction 1,100 units; vacancy down 10 bps to 2.7%; rent +4.6% to $1,360/mo; NMI rank 32 | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence The vacancy rate dips to 2.7 percent as absorption outpaces new supply. This will be the lowest year-end recording in at least a decade and the Class C rate should hold under 2 percent. ... the mean effective rent moves up to $1,360 per month in 2022. Sources source note live | |||||||||||
| 2022 U.S. Multifamily Investment Forecast | 2022-01 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Statistical summary, Milwaukee row (2019-2022): completions 2,581/2,054/2,200/1,100; vacancy 3.5%/3.7%/2.8%/2.7%; rent $1,173/$1,205/$1,300/$1,360; price/unit $93,110/$98,428/$104,217 | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Milwaukee 0.0% -7.1% 3.8% 2.6% 2,581 2,054 2,200 1,100 3.5% 3.7% 2.8% 2.7% $1,173 $1,205 $1,300 $1,360 $93,110 $98,428 $104,217 Milwaukee Sources source note live | |||||||||||
| 2023 U.S. Multifamily Investment Forecast | 2023-01 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Sale size mix: trades historically weighted to sub-$10M tranche; locals ~3/4 of those deals | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Trades in the Milwaukee metro have historically been weighted to the sub-$10 million tranche, with local purchasers generally accounting for roughly three-quarters of these deals. Sources source note live local: mirror of marcusmillichap.com book | |||||||||||
| 2023 U.S. Multifamily Investment Forecast | 2023-01 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | MF 2023 forecast: Employment +0.2% (2,000 jobs); construction 2,500 units; vacancy +100 bps to 4.5%; rent +4.1% to $1,525/mo; NMI rank 37 | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Availability will increase to 4.5 percent this year, Milwaukee’s highest year-end rate since 2017. ... Milwaukee notes the nation’s 10th-fastest pace this year, as the average effective rate reaches $1,525 per month. Sources source note live | |||||||||||
| 2023 U.S. Multifamily Investment Forecast | 2023-01 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Statistical summary, Milwaukee row (2020-2023): completions 2,054/1,784/2,100/2,500; vacancy 3.7%/2.2%/3.5%/4.5%; rent $1,207/$1,323/$1,465/$1,525; price/unit $103,400/$114,900/$123,500 | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Milwaukee -6.1% 1.6% 1.9% 0.2% 2,054 1,784 2,100 2,500 3.7% 2.2% 3.5% 4.5% $1,207 $1,323 $1,465 $1,525 $103,400 $114,900 $123,500 Milwaukee Sources source note live | |||||||||||
| 2023 U.S. Retail Investment Forecast | 2023-02 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Retail cap rate: entered 2023 at 7% avg cap rate (among nation's highest) | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence The metro entered 2023 with one of the nation’s highest average cap rates at 7 percent. Sources source note live local: mirror of marcusmillichap.com book | |||||||||||
| 2023 U.S. Retail Investment Forecast | 2023-02 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Retail price/sq ft: country's lowest average price per square foot | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Also accounting for the country’s lowest average price per square foot, Milwaukee should remain attractive to cost-sensitive private buyers focused on sub-$5 million listings. Sources source note live | |||||||||||
| 2023 U.S. Retail Investment Forecast | 2023-02 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Retail vacancy by segment: 2023 forecast 4.9% overall; multi-tenant double digits (>15% in Milwaukee County outside city); single-tenant under 4% | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Completions outpace retailer space demand, pushing vacancy up to 4.9 percent. Multi-tenant availability lies in the double digits, while the single-tenant metric will hold under 4 percent. ... Multi-tenant availability that exceeds 15 percent could caution buyers that pursue shopping center listings in Milwaukee County outside of the city Sources source note live | |||||||||||
| 2023 U.S. Retail Investment Forecast | 2023-02 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Retail 2023 forecast: Employment +0.2% (2,000 jobs); construction 330,000 sq ft; vacancy +30 bps; rent +3.1% to $14.02/sq ft; NRI rank 35 | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence The average marketed rate expands at a slightly slower pace this year, reaching $14.02 per square foot. Sources source note live | |||||||||||
| 2023 U.S. Retail Investment Forecast | 2023-02 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Statistical summary, Milwaukee row (2020-2023): completions 160/70/230/330 (000 sq ft); vacancy 5.6%/5.0%/4.6%/4.9%; asking rent $12.66/$13.16/$13.60/$14.02; price/sq ft $260/$269/$277 | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Milwaukee -6.1% 1.6% 1.9% 0.2% 160 70 230 330 5.6% 5.0% 4.6% 4.9% $12.66 $13.16 $13.60 $14.02 $260 $269 $277 Milwaukee Sources source note live | |||||||||||
| Milwaukee Multifamily Market Report 2Q/24 | 2024-05 (2Q24 report); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | MF cap rate + price/unit history: avg cap rate 6.1%-6.2% since 2021; mean sale price $122,000-$125,000/unit since 2022 | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence The metro’s average cap rate has held between 6.1 and 6.2 percent since 2021, while the mean sale price has remained in the $122,000 to $125,000 per-unit range going back to 2022. Sources source note live | |||||||||||
| Milwaukee Multifamily Market Report 2Q/24 | 2024-05 (2Q24 report); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Class C vacancy & rent growth (1Q24): Class C vacancy 3.1% (4th lowest of major US markets); Class C effective rent +10%+ YoY | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Milwaukee’s Class C vacancy rate of 3.1 percent in the first quarter ranked as the fourth lowest among major U.S. markets. That tightness allowed the local average effective rent in lower-tier units to surge by more than 10 percent year-over-year, one of just two locations in the country to notch a double-digit gain. Sources source note live | |||||||||||
| Milwaukee Multifamily Market Report 2Q/24 | 2024-05 (2Q24 report); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Submarket rent growth: Franklin-Oak Creek and Washington-Ozaukee Counties: Class C vacancy <2% and segment rent growth >15%; Racine rent +23% to $1,333/mo (fastest in US) | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Two standout areas registered both Class C vacancy below 2 percent and segment rent growth above 15 percent — Franklin-Oak Creek and Washington-Ozaukee Counties. ... Racine’s 23 percent rent surge to $1,333 per month not only led the metro, but its pace of growth also ranked as the fastest in the entire country. Sources source note live | |||||||||||
| Milwaukee Multifamily Market Report 2Q/24 | 2024-05 (2Q24 report); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | MF 2024 forecast: 1,000 jobs; 2,200 units; vacancy +50 bps to 4.5% (3rd-tightest major US market); rent +2.7% to $1,586/mo | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Softer demand results in a mild vacancy increase to 4.5 percent. Milwaukee will be one of just six major markets nationally to surpass 2.5 percent rent growth in 2024, with the local figure climbing to $1,586 per month. Sources source note live | |||||||||||
| Milwaukee Multifamily Market Report 2Q/24 | 2024-05 (2Q24 report); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Buyer profile: Class C = ~2/3 of trades Oct 2023-Mar 2024; Downtown-Shorewood Class B vacancy -300 bps YoY to 2.9% (Mar 2024) | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Class C assets comprised roughly two-thirds of the apartments that changed hands from October 2023 through March 2024 ... The area’s mid-tier vacancy rate fell nearly 300 basis points year-over-year to 2.9 percent in March 2024. Sources source note live | |||||||||||
| Milwaukee Retail Market Report 2Q/24 | 2024-05 (2Q24 report); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Retail 2024 forecast: 1,000 jobs (+0.1%); 215,000 sq ft completions (0.2% of stock); vacancy -20 bps to 3.9%; asking rent +4.0% to $15.40/sq ft | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Retail 2024 Outlook / 20 / 3.9% / 215,000 ... +0.1% / 0.2% / 4.0% / $15.40 per sq. ft. ... JOBS 1,000 ... will be created ... will be completed ... decrease in vacancy ... in asking rent Sources source note live | |||||||||||
| Milwaukee Retail Market Report 2Q/24 | 2024-05 (2Q24 report); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Cap rate / price-per-sf chart brackets: Avg cap rate chart axis 6.0%-8.0%; avg price/sq ft chart axis $240-$280 (2020-24**) | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Sales Trends / Average Price per Square Foot / Average Price / Average Cap Rate / Average Cap Rate / $240 / $250 / $260 / $270 / $280 ... 6.0% / 6.5% / 7.0% / 7.5% / 8.0% Sources source note live | |||||||||||
| 2024 U.S. Multifamily Investment Forecast | 2024-02-01 (book; per MMI press release); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | MF vacancy ranking: 3rd straight year below every major market except New York | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence For the third straight year, vacancy in Milwaukee will stand below every major market across the country except New York. Sources source note live local: mirror of marcusmillichap.com book | |||||||||||
| 2024 U.S. Multifamily Investment Forecast | 2024-02-01; quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Sale volume trend + cap rate movement: only major US metro with transaction velocity increase in 2023; cap rates lifted at ~half the national pace | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Last year, Milwaukee stood out as the only major U.S. metro to record an increase in transaction velocity relative to the prior annual period. ... Improving rent rolls here are benefiting cap rates, which lifted by a pace that was nearly half that of the national average last year. Sources source note live | |||||||||||
| 2024 U.S. Multifamily Investment Forecast | 2024-02-01; quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | MF 2024 forecast: Employment +0.8% (7,000 jobs); construction 2,750 units (+1.7% stock); vacancy +10 bps to 3.7%; rent +3.6% to $1,590/mo; NMI rank 32 | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence A minor lift to Milwaukee’s vacancy rate brings the metro’s measure to 3.7 percent by year-end. Still, this will stand more than 100 basis points below any other major Midwestern market. ... The metro’s nationally strong pace of rent growth will raise its average effective rate to $1,590 per month Sources source note live | |||||||||||
| 2024 U.S. Multifamily Investment Forecast | 2024-02-01; quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Statistical summary, Milwaukee row (2021-2024): completions 1,900/2,300/3,000/2,750; vacancy 2.2%/3.2%/3.6%/3.7%; rent $1,326/$1,452/$1,535/$1,590; price/unit $113,900/$121,400/$118,800 | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Milwaukee 2.6% 1.3% 0.6% 0.8% 1,900 2,300 3,000 2,750 2.2% 3.2% 3.6% 3.7% $1,326 $1,452 $1,535 $1,590 $113,900 $121,400 $118,800 Milwaukee Sources source note live | |||||||||||
| Milwaukee Retail Market Report Q4 2024 (MMI press release quoting report) | 2024-12-02; quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Retail vacancy / rent / stock: vacancy forecast +0.3% to 4.3%; asking rent $15.02/sq ft (+4.3%); net loss of 260,000 sq ft stock; 4,000 jobs added 2024 | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Moderate Vacancy Increase: Retail vacancy rates are forecasted to increase by 0.3% to 4.3%, a level that still reflects strong occupancy relative to historical trends. • Rental Rate Growth: Average asking rents rose to $15.02 per square foot, a 4.3% increase, driven by strong leasing activity. • Supply Challenges: Milwaukee is projected to see a net loss of 260,000 square feet of retail stock Sources source note live | |||||||||||
| 2025 U.S. Multifamily Investment Forecast | 2025-01 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Sale volume trend: transactions -31% YoY end-2024, -50% from 2022 peak, lowest since 2013 | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence By the end of 2024, transactions fell 31 percent year over year and nearly 50 percent from the 2022 peak — the lowest level of activity since 2013. Sources source note live local: mirror of marcusmillichap.com book | |||||||||||
| 2025 U.S. Multifamily Investment Forecast | 2025-01 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Class A vacancy / market-tightness rank: Class A segment vacancy at 5% threshold entering 2025; metro moved from 3rd-tightest US market (2024) to 10th (2025) | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Class A construction has hit its highest level since at least 2009, raising segment vacancy to the 5 percent threshold entering this year. Although this has shifted Milwaukee from the third-tightest U.S. market in 2024 to the tenth in 2025, overall metro vacancy remains relatively low. Sources source note live | |||||||||||
| 2025 U.S. Multifamily Investment Forecast | 2025-01 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | MF 2025 forecast: Employment +0.7% (6,000 jobs); construction 2,800 units; vacancy +30 bps to 4.5% (highest since 2017); rent +3.4% to $1,633/mo; NMI rank 41 | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Availability is projected to rise to 4.5 percent — Milwaukee’s highest since 2017 — but will still tie with Chicago for the lowest vacancy rate among the major Midwest markets. ... Milwaukee will be one of only 14 major markets to exceed 3.2 percent rent growth in 2025, reaching $1,633 per month despite rising vacancy Sources source note live | |||||||||||
| 2025 U.S. Multifamily Investment Forecast | 2025-01 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Statistical summary, Milwaukee row (2022-2025): completions 2,300/2,700/2,100/2,800; vacancy 3.2%/4.0%/4.2%/4.5%; rent $1,450/$1,544/$1,580/$1,633; price/unit $122,400/$118,100/$109,100 | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Milwaukee 1.9% 0.0% -0.2% 0.7% 2,300 2,700 2,100 2,800 3.2% 4.0% 4.2% 4.5% $1,450 $1,544 $1,580 $1,633 $122,400 $118,100 $109,100 Milwaukee Sources source note live | |||||||||||
| 2025 U.S. Retail Investment Forecast (IPA 2025 Milwaukee Retail IF = same text) | 2025-01-30 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Retail cap rate + price/sq ft (2024): 7.3% mean cap rate; $269/sq ft average price (lowest of major markets) | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence The metro’s average price of $269 per square foot in 2024 — the lowest of major markets — and a 7.3 percent mean cap rate should continue to lure out-of-state buyers. Sources source note live local: mirror of marcusmillichap.com book; IPA page: | |||||||||||
| 2025 U.S. Retail Investment Forecast | 2025-01-30 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Sale volume + submarket share: 2024 sales activity +20%; Waukesha County = 20% of 2024 transactions | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Building on a 20 percent jump in sales activity during 2024, single-tenant net leased assets are poised to garner outsized interest in 2025 ... Waukesha County is also pivotal, capturing 20 percent of last year’s transactions. Sources source note live | |||||||||||
| 2025 U.S. Retail Investment Forecast | 2025-01-30 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Retail 2025 forecast: Employment +0.7% (6,000 jobs after -4,100 in 2024); construction 120,000 sq ft; vacancy -20 bps to 4.1% (lowest since at least 2007); asking rent +0.8% to $14.95/sq ft; NRI rank 41 | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence As a result of a minimal construction slate that is already highly accounted for, vacancy in Milwaukee will decrease to 4.1 percent — the lowest rate since at least 2007. ... the average asking rent will rise to $14.95 per square foot. Multi-tenant properties may weigh on growth, however, after noting a 15.6 percent drop last year. Sources source note live | |||||||||||
| 2025 U.S. Retail Investment Forecast | 2025-01-30 (book); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Statistical summary, Milwaukee row (2022-2025): completions 210/330/220/120 (000 sq ft); vacancy 4.2%/4.2%/4.3%/4.1%; asking rent $14.34/$14.83/$14.73/$14.85; price/sq ft $272/$268/$269 | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Milwaukee 1.9% 0.0% -0.5% 0.7% 210 330 220 120 4.2% 4.2% 4.3% 4.1% $14.34 $14.83 $14.73 $14.85 $272 $268 $269 Milwaukee Sources source note live | |||||||||||
| IPA Milwaukee Multifamily Market Report 2Q/25 (sources: Marcus & Millichap Research Services) | 2025-05 (2Q25 report); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | MF cap rate (national rank + movement): 2nd-highest avg cap rate among major US markets entering April 2025; +60 bps in 2024 (largest annual gain since at least 2000) | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Milwaukee had the second-highest average cap rate among major U.S. markets entering April. The rate grew by 60 basis points in 2024 — its largest annual gain since at least 2000. So far in 2025, the average cap rate has held steady, possibly indicating an inflection point. Sources source note live | |||||||||||
| IPA Milwaukee Multifamily Market Report 2Q/25 | 2025-05; quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Price/unit trend: avg price/unit +6.5% YoY (3rd-largest increase in nation) | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Despite the average price per unit rising by 6.5 percent year over year — representing the third-largest increase in the nation — transaction velocity remained roughly consistent with the prior 12-month period. Sources source note live | |||||||||||
| IPA Milwaukee Multifamily Market Report 2Q/25 | 2025-05; quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Vacancy + rent (1Q25 T-12): metro vacancy 4.0%; Class B 3.6% (-50 bps); rent $1,617/mo (+3.5% T-12); suburban $1,589 (+4.1%), urban core $1,904 (flat); 3,038 units completed, vacancy -20 bps YoY | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Class B vacancy posted the largest annual decline among classes, falling 50 basis points to 3.6 percent — just below the 4.0 percent metro level. ... Tight conditions led the metro to record the 11th-fastest rent growth rate among major markets throughout the year ended in March, pushing the measure up to $1,617 per month. • Suburban rents grew by 4.1 percent to a monthly rate of $1,589, outperforming urban core rents, which stayed roughly flat at $1,904 per month. Sources source note live | |||||||||||
| IPA Milwaukee Multifamily Market Report 2Q/25 | 2025-05; quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | MF 2025 forecast + cap-rate chart bracket: vacancy to 4.2% in 2025 (210 bps above post-2008 low of early 2022); avg rate $1,665/mo by year-end; cap rate chart axis 6.0%-7.6% | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Vacancy will move up to 4.2 percent this year as deliveries slightly outpace demand. While below the national vacancy rate of 5.1 percent, this is still 210 basis points above the metro’s post-2008 low set in early 2022. ... driving the average monthly rate up to $1,665 by year-end. Sources source note live | |||||||||||
| 2026 U.S. Multifamily Investment Forecast (+ standalone 2026 Milwaukee MF Investment Forecast sheet) | 2025-12/2026-01 (book; data as of Dec 2025); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | MF vacancy + rent 2026 forecast: vacancy -10 bps to 3.6% (20 bps below decade avg); avg effective rent $1,692/mo; metrowide vacancy dips below 4% (steepest YoY decline of any Midwestern metro); NMI rank 47 | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence As a result of plummeting new supply and steady renter demand in the metro, vacancy will edge down to 3.6 percent. The level is 20 basis points below the metro’s prior decade-long average. ... the average effective rent will rise only to $1,692 per month, as Milwaukee’s year-over-year rent growth slows to its lowest level since 2020. Sources source note live local: metro sheet: | |||||||||||
| 2026 U.S. Multifamily Investment Forecast | 2025-12/2026-01; quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Entry pricing / submarket rent growth: Waukesha County sub-$100,000/unit entry costs; West Allis-St. Francis-Greenfield lower-tier rent growth near 10% | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Nearby Waukesha County may remain an investment focus in 2026, supported by sub-$100,000 per-unit entry costs and proximity to employment centers. ... In that area, rent growth for lower-tier properties hovered near 10 percent, and Class A vacancy has held steady near its long-term average. Sources source note live | |||||||||||
| 2026 U.S. Multifamily Investment Forecast | 2025-12/2026-01; quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Statistical summary, Milwaukee row (2023-2026) + cap-rate chart bracket: completions 2,900/2,300/3,600/850; vacancy 4.0%/4.1%/3.7%/3.6%; rent $1,552/$1,606/$1,655/$1,692; price/unit $118,100/$109,500/$114,600; avg cap rate chart axis 6.0%-8.0% | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Milwaukee 0.3% 0.2% -0.4% -0.9% 2,900 2,300 3,600 850 4.0% 4.1% 3.7% 3.6% $1,552 $1,606 $1,655 $1,692 $118,100 $109,500 $114,600 Milwaukee Sources source note live | |||||||||||
| 2026 U.S. Retail Investment Forecast | 2026-02/03 (book; press release 2026-03-11); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Retail sale volume: retail transaction velocity +30%+ YoY in 2025 (largest increase of any CRE type in Milwaukee) | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Across commercial real estate property types in Milwaukee last year, the retail sector recorded the largest year-over-year increase in transaction velocity, rising by more than 30 percent, as both single- and multi-tenant deal flow improved in 2025. Sources source note live | |||||||||||
| 2026 U.S. Retail Investment Forecast | 2026-02/03; quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Retail 2026 forecast + cap-rate chart bracket: Employment -1.1% (net loss 9,500 positions); construction 170,000 sq ft (inventory +0.2%); vacancy +10 bps to 4.1%; asking rent -0.7% to $14.52/sq ft; NRI rank 47; avg cap rate chart axis 6.0%-8.0% | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Vacancy will edge up to 4.1 percent despite the slow-down in Milwaukee’s delivery schedule. ... the average asking rent is expected to soften amid a mea-sured level of net absorption, declining to $14.52 per square foot this year. Sources source note live | |||||||||||
| 2026 U.S. Retail Investment Forecast | 2026-02/03; quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Statistical summary, Milwaukee row (2023-2026): completions 350/180/430/170 (000 sq ft); vacancy 3.4%/3.4%/4.0%/4.1%; asking rent $14.30/$14.76/$14.62/$14.52; price/sq ft $268/$269/$268 | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Milwaukee 0.3% 0.2% -0.9% -1.1% 350 180 430 170 3.4% 3.4% 4.0% 4.1% $14.30 $14.76 $14.62 $14.52 $268 $269 $268 Milwaukee Sources source note live | |||||||||||
| Milwaukee Multifamily Market Report 2Q/26 | 2026-05/06 (2Q26 report); quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | MF 2026 forecast box: jobs -3,000 (-0.4%); 1,050 units (+0.6% inventory); vacancy 3.9% (-20 bps YoY); avg effective rent $1,715 (+2.5%) | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence 2026 FORECAST / EMPLOYMENT Jobs will be lost Decrease Y-O-Y 3,000 0.4% / CONSTRUCTION Units will be added Inventory increase Y-O-Y 1,050 0.6% / VACANCY Vacancy rate BPS decrease Y-O-Y 3.9% 20 / RENT Average effective rent by year-end Increase Y-O-Y $1,715 2.5% Sources source note live | |||||||||||
| Milwaukee Multifamily Market Report 2Q/26 | 2026-05/06; quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Concessions / renewals / supply wave: concessions ~8.5% of units (vs 17% US); renewal conversions ~71% (vs 56% US); 11-year supply wave ending (inventory +17% over the wave) | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Only about 8.5 percent of units offer concessions, below the national rate of 17 percent, while elevated lease trade-out rates in early 2026 point to fur-ther rent growth by year-end. Renewal conversions near multiyear highs around 71 percent, far exceeding the U.S. average of 56 percent ... This year will mark the end of an 11-year supply wave, during which inventory expanded roughly 17 percent. Sources source note live | |||||||||||
| Milwaukee Multifamily Market Report 2Q/26 | 2026-05/06; quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Sale volume + price/unit + cap-rate chart bracket: deal flow (yr ended Mar 2026) +35% (largest single-year rise since 2022); vintage Class B/C around $100,000/unit; avg cap rate chart axis 6.3%-7.5%; price/unit chart axis $106K-$126K | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Deal flow in the year ended March 2026 rose nearly 35 percent, the metro’s largest single-year increase since 2022. ... investors primarily targeted vintage Class B/C assets trading around $100,000 per unit. Sources source note live | |||||||||||
| Milwaukee Multifamily Market Report 2Q/26 | 2026-05/06; quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Vacancy detail: metro just under 4% in 2026 (~140 bps below US mean); suburbs 3.2% in Mar 2026 (2nd lowest nationally); CBD 6.6% in 2025 retreating with no 2026 deliveries; Racine Class C 1.0% (metro-low, Mar 2026); Brown Deer-Whitefish Bay effective rent +7.7% (metro-leading, yr ended Mar) | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Milwaukee vacancy is expected to rank among the nation’s tightest in 2026, at just under 4 percent and roughly 140 basis points below the U.S. mean. ... with vacancy falling to the second lowest level nationally in March, at 3.2 percent. Meanwhile, no CBD deliveries this year should help local vacancy retreat from its elevated 2025 level of 6.6 percent. Sources source note live | |||||||||||
| Milwaukee Metro Area Retail report Q3 2026 (MMI press release quoting report) | 2026-09-09; quote re-verified 2026-10-06 | no evidence found (2026-10-06) | no evidence found (2026-10-06) | Retail leasing / investment / vacancy: leasing activity lowest since at least 2011; MF vacancy -70 bps YoY to 2.6% (ties 2nd-lowest nationally); 2026 completions ~half of prior 10-yr annual avg (2 Costco = ~80% of deliveries); investment activity +20% (yr ended June); tourism spending record $2.5B in 2025 | |||||||
Asset class research report (metro-level) Units / SF no evidence found (2026-10-06) Opex assumption if implied no evidence found (2026-10-06) Verbatim evidence Leasing activity fell to its lowest level since at least 2011 as slower population growth, household formation and employment conditions reduced the need for additional retail space. • Retail fundamentals may receive support from the apartment sector, where multifamily vacancy declined 70 basis points year over year to 2.6 percent, tying for the second-lowest rate nationally. • Construction completions in 2026 are projected to total roughly half of the prior 10-year annual average, with two Costco locations accounting for approximately 80 percent of expected deliveries. • Investment activity increased 20 percent in the year ended June Sources source note live | |||||||||||
Every lane searched to a documented gap (no invented numbers):
| Lane | Gap, with check date |
|---|---|
| residential_rent | 2556 N Booth St: no 2026 rental listing found (searched 2026-10-06), kept as HISTORICAL seed. |
| residential_rent | 2520 N Holton St: no 2026 rental listing found (searched 2026-10-06; building sold 11/26/2025), kept as HISTORICAL seed. |
| residential_rent | Craigslist lead 3813 N Humboldt BL ($1,400 2BR w/parking): post returns 404 (checked 2026-10-06), snippet only, no row ('no artifact, no row'). |
| residential_rent | 2822 N Fratney apartments.com page: Akamai access denied even via registered free route (2026-10-06), evidence sourced from ForRent/Zumper/Zillow instead. |
| residential_rent | Listing history (DOM/price changes) not published on listing pages for 2518 N Humboldt, 3015 N Pierce, 2846 N Holton, 3228 N Achilles, 3314 N Buffum, 2920 N Bremen (checked 2026-10-06). |
| residential_rent | Redfin/Trulia/Apartments.com are behind bot walls, pulled via registered free route bh-http.py (plain HTML), no paid rungs used. |
| residential_rent | delegate_task fan-out refused (delegation.oneshot_max_children exhausted, 2026-10-06), search lanes executed inline in this run. |
| retail_rent | no WisDOT AADT on N Booth St or E Clarke St (statewide station searches 'BOOTH' and 'CLARKE' on 2026-10-06 returned no Milwaukee-county stations) - nearest counted roads used instead |
| retail_rent | 3203 N Holton St: no fresh 2026 listing evidence found (2026-10-06) - labeled historical (Craigslist Dec 2024 via appraisal) |
| retail_rent | 5316 W Vliet St: live mirrors unreachable or removed (realty.com 403 to fetch; primerealtywi 404 'listing no longer available' 2026-10-06) - labeled historical (May 2025) |
| retail_rent | published base rates for 2004 N Farwell, 334 E Capitol, 7600 W Capitol, and Park Place 801 E Capitol: none published in sources read (2026-10-06) |
| grm | Documented rent ($2,475/mo, 2/2.5, 1,550 SF) but NO documented sale price -> not a GRM point. Also CUT: 31-unit complex is outside the 2-6 unit comp universe (mission rule 5). no evidence found (2026-10-06) for the missing side |
| grm | Price documented (RETR + appraisal); rent side is a COMMERCIAL ASKING rent ($36,000/yr, 'appears to be high') + an appraiser ESTIMATE for the 1-br apt ($800/mo). No documented rent roll -> NOT a GRM data point. Context only: appraiser GPI $45,600 would imply GRM 3.95. no evidence found (2026-10-06) for the missing side |
| grm | Price documented; both rents are appraiser estimates ('estimated to be $15.00 per square foot... around the time of sale'; apt 'estimated to have rented for $1,500 per month'). No documented roll -> NOT a GRM data point. Context only: appraiser GPI $42,000 would imply GRM 7.83. no evidence found (2026-10-06) for the missing side |
| grm | Price documented; commercial was OFFERED at $16.80/SF (asking) and the two apts are appraiser estimates ($1,050 + $1,250/mo). No documented roll -> NOT a GRM data point. Context only: appraiser GPI $44,400 would imply GRM 5.63. no evidence found (2026-10-06) for the missing side |
| grm | Price documented; all rents are appraiser estimates (commercial $9.00/SF; studio $700, 1br $800, 2x2br $925, 3br $1,100/mo 'estimated to rent'). No documented roll -> NOT a GRM data point. Context only: appraiser GPI $65,892 would imply GRM 8.20. no evidence found (2026-10-06) for the missing side |
| grm | Second-unit rents never documented in the appraisal (only the listed unit's published rent). Covered by paired estimated rows; the underlying gap stands. no evidence found (2026-10-06) for the missing side |
| grm | Sale listing remarks survive on Redfin but contain NO rent figures; no rental listings found. Price stands alone -> not a GRM point. no evidence found (2026-10-06) for the missing side |
| grm | Redfin retains the sale but dropped the listing remarks; no rental listings found anywhere. no evidence found (2026-10-06) for the missing side |
| grm | A per-unit rental listing ('Unit Lower') existed but its rent figure is dead everywhere readable (ForRentUniversity 403; ApartmentHomeLiving 'no esta en alquiler'); snippets are not sources. no evidence found (2026-10-06) for the missing side |
| grm | Two per-unit rental listings existed; snippet-level rents ($2,475/mo 1,972 SF + $1,395/mo 986 SF -> implied $46,440/yr, GRM ~7.5) are NOT source-grade. All live pages dead/blocked (ForRent 404, RentalSource 'Listing Removed', Zumper no price, apartments/homes denied). Wayback/IA OFFLINE 2026-10-06 (control query on example.com also empty) and archive.ph holds no snapshot -> dated unreachable; re-run CDX when IA is back (the single highest-value open lead). no evidence found (2026-10-06) for the missing side |
| grm | Multiple per-unit rental listings existed around the sale (realtor.com M95390-48613 'Unit Lower'; rent.com/apartmentguide LV2012666915) but all are expired/gated/blocked with no readable rent figure. Wayback/IA offline 2026-10-06 -> dated unreachable. no evidence found (2026-10-06) for the missing side |
| grm | An AppFolio/LOVELY rental feed for unit #2919 was live 15 days after the sale but publishes NO rent figure in any readable payload. no evidence found (2026-10-06) for the missing side |
| grm | Rental feed exists (AppFolio, freshness 2026-08-01) with no price; no sale-listing rent schedule found. no evidence found (2026-10-06) for the missing side |
| grm | No sale-listing remarks and no rental listings with figures found. no evidence found (2026-10-06) for the missing side |
| grm | No documented rents found in any readable source. no evidence found (2026-10-06) for the missing side |
| grm | Founders 3 OM PDF has price $425,000 + cap 6.55% + NOI $27,820 but NO rent roll or gross rents -> not a GRM point. no evidence found (2026-10-06) for the missing side |
| grm | Rents gated behind broker OM contact ('See offering memorandum for financials') -- no outreach allowed -> dated unreachable. no evidence found (2026-10-06) for the missing side |
| grm | 'Fully occupied cash flowing brick 6 family' but zero rent figures published. no evidence found (2026-10-06) for the missing side |
| grm | All units vacant; no in-place rents and no published asking rents. no evidence found (2026-10-06) for the missing side |
| grm | 'Already rented... immediate cash flow' but zero rent figures published. no evidence found (2026-10-06) for the missing side |
| grm | Only VACANT-unit asking rents published ($1,000+/mo for 2 of 4 units) -- not in-place, partial, no roll. no evidence found (2026-10-06) for the missing side |
| grm | Price + unit detail but no rent roll or rent figures. no evidence found (2026-10-06) for the missing side |
| grm | Realmo page exposes neither price nor rents publicly. no evidence found (2026-10-06) for the missing side |
| grm | No rents/rent roll on listing page. no evidence found (2026-10-06) for the missing side |
| grm | No rent figures or roll on listing page. no evidence found (2026-10-06) for the missing side |
| grm | No rent figures or roll on listing page. no evidence found (2026-10-06) for the missing side |
| grm | No rent figures or roll on listing page. no evidence found (2026-10-06) for the missing side |
| grm | No rent figures or roll on listing page. no evidence found (2026-10-06) for the missing side |
| grm | No rent figures or roll on listing page. no evidence found (2026-10-06) for the missing side |
| grm | No rent figures or roll on listing page. no evidence found (2026-10-06) for the missing side |
| grm | Round 3 sweep (parent, 2026-10-06): every readable source for at-sale rents came back empty -- wisconsin.land pages are stubs, Xome shows facts only, Redfin home/90361469 is a condo-UNIT page (1996 unit sale, no rents), and Zillow/Trulia/apartments/hotpads/forrent/realtytrac pages are bot-walled or account-gated (named, dated). Wayback unqueryable (IA offline 2026-10-06). Price-side leads only. no evidence found (2026-10-06) for the missing side |
| grm | Flyer publishes a RATE CARD by unit type (Efficiency $699; Large Studio $739-799; 1BR $799-949, heat incl.) across 4 buildings -- no per-building rent roll, no price -> fails both sides. RETR: no 2024-2026 sales of the four addresses (the 1621-1623 N HUMBOLDT sale 2024-09-12 $391,000 doc 11450799 is a different building). no evidence found (2026-10-06) for the missing side |
| grm | Full rent roll + price $2,750,000 documented (GRM would be 16.07 on $171,281 gross) but SEATTLE -- outside the Milwaukee market universe -> cut, not a comp. no evidence found (2026-10-06) for the missing side |
| grm | Asking-GRM context leads from Redfin similar-listing cards (lane U1). No documented sales (RETR checked 2026-10-06; 2616-18 N Buffum's 2023-06-20 sale $200,000 predates the listing). If any closes, each becomes an instant GRM row. no evidence found (2026-10-06) for the missing side |
| cap_rate | 1. 625 E St Paul OM PDF, '8.34% Cap Rate' is an owner-supplied quote; primary document not retrievable via free logged-out routes (2026-10-06): LoopNet listing 35266395 expired, CityFeet 403, Showcase dead shell, realmo JS shell. Wayback availability API: no snapshot for the LoopNet listing page (checked 2026-10-06) |
| cap_rate | 2. BizTimes trade coverage paywalled (2026-10-06): 'Mixed-use Silver Spring Drive building in Whitefish Bay sold for $7 million' (401-415 E Silver Spring Dr) and 'Apartment building on Milwaukee's East Side sold for $8.25 million' (Sage on Prospect), titles show price only, body gated. Next action: owner's BizTimes subscription; likely no income data anyway. |
| cap_rate | 3. Marcus & Millichap Milwaukee reports (2026 Retail Investment Forecast; 2Q26 Multifamily), pages JS-rendered (no text via plain fetch 2026-10-06); WisBusiness/REJournals releases carry vacancy/rent but no retail or multifamily cap figure (only the office release states ~9%). Recorded as 'no cap figure found (2026-10-06)'. |
| cap_rate | 4. CBRE U.S. Cap Rate Survey H2 2025, free HTML carries the narrative ('Minimal Changes For Cap Rate Estimates') but no Milwaukee or Midwest line; metro exhibits gated. The 5.25-5.75% Milwaukee Class A figure exists only via RealCostIQ's citation (CUT row). Next action: owner's CBRE research access if that bracket becomes load-bearing. |
| cap_rate | 5. P1c sales-comps.json pending (2026-10-06), when fresh Riverwest 2021-2026 sales land with documented rents, rerun this file's recompute on them (method proven: the 37.2% build reproduces every published appraisal OAR to <0.05pp). |
| cap_rate | 6. Milwaukee Business Journal Katz Properties $11.2M east side apartment sale (2026-06-03), paywalled, no cap visible in the free index. Next action: owner's subscription if needed. |
| retail_rent | 902 E Chambers St Lower: quoted $1,095 ask no evidence found (2026-10-06) on the live listing (page now shows other prices; Apartments.com corroboration reads 'from $995') |
| cap_rate | CapRateIndex Milwaukee average cap: lane's 7.85/2.43 TTM no evidence found (2026-10-06); live page reads 8.04 avg TTM (0.43-22.97) and that is what ships |
| cap_rate | Eastside Mixed-Use (1800 N Farwell) NOI and the lane's 6.05% figure no evidence found (2026-10-06) (Crexi masks Cap Rate/NOI to anonymous reads); only the 7.87% year-one listing text is confirmable |
| sales | plan-v2.md '$131.5/SF building-SF basis', no evidence found (2026-10-06) from documented SF (7,868 GBA / 7,011 NRA); flagged, not used |
| all | heat/electric responsibility unverified on several fresh residential listings, no evidence found (2026-10-06) where marked in-row |