Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land in Convenient Location Title is generated by Realmo AI

    Lot 1 Hilo Drive, Mukwonago, WI 53149

    View on Map
    Claim this Listing
    For Sale
    $350,000

    Land with easy freeway access, suitable for agricultural use.

    Type:Land / Vacant Land
    Property size:
    217,800 SF
    Lot size:
    5.00 Acres
    Price / SF:
    $1.61/SF
    Added:
    Mar 22, 2026
    Days on Market:
    73
    Last Refresh:
    Mar 23 at 8:17 pm

    Property Features for Lot 1 Hilo Drive

    General Information

    Standard status
    Active
    Size
    217,800 SF
    Lot size
    5.00 Acres
    Property subtype
    Land / Vacant Land

    We can help!

    Listing Contact
    Timothy J Abrahamson

    Listing agent Timothy J Abrahamson License #38228-90

    Listing office Realty Executives Integrity~Brookfield

    Listing date Mar 22, 2026

    Source Compass

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Realty Executives Integrity~Brookfield

    HighLights

    • No HOA or HOA restrictions.
    • Zoned RRD‑5, allows for agricultural use (chickens, horses, cattle acceptable).
    • Potential to run a business from home.
    • Ability to build a large outbuilding.
    • Easy freeway access; only 35 minutes to the lakefront or Mitchell Airport.
    • No major site preparation needed; perks for mound.

    Overview

    This property offers a convenient location with easy freeway access, situated approximately 35 minutes from the lakefront and Mitchell Airport. The land is currently used as a farm field, requiring minimal site preparation. It features attractive tree lines and perks for mound systems. Zoned RRD-5, the property allows for agricultural use, including the keeping of chickens, horses, and cattle. The zoning also accommodates the construction of large outbuildings and potentially allows for running a business from home. The property size is 217800 square feet and there are no HOA or HOA restrictions.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Department Store Computer & Electronic Repair Tech Support Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mukwonago
    County
    Waukesha
    State
    Wisconsin
    Longitude
    -88.2581
    Latitude
    42.9025

    Nearby Similar for Sale

    • $499,900

      Mukwonago Vacant Land Opportunity

      4.5 acres of commercial land with high visibility.
      Pcl0 Main St, Mukwonago, WI 53149
      View Details
    • $350,000

      Land for Agriculture, Grazing, Residential

      Land suitable for agriculture, grazing, and residential use.
      Lot 1 Hi Lo Dr, Mukwonago, WI 53149
      View Details
    • $2,350,000
      20,000 SF

      Mukwonago Industrial Property For Sale

      20,000 SqFt industrial property available in Mukwonago, Wisconsin.
      640-654 Perkins Drive, Mukwonago, WI 53149
      View Details
    • $950,000

      Land with High Visibility

      Commercial land with high traffic and close to amenities.
      Hwy 83 & Black Bear Blvd, Mukwonago, WI
      View Details
    • Contact for pricing
      49 SF

      Highway Frontage Commercial Land Available

      Commercial land with highway frontage and development opportunities.
      1020 N Rochester St | Mukwonago, WI 53149, WI 53149
      View Details
    • $699,000

      Development Site in Downtown Mukwonago

      1.9-acre development site with high visibility on Hwy 83.
      112 Meacham St, Mukwonago, WI 53149
      View Details
    • $699,000

      Prime Development Site in Mukwonago

      1.9-acre development site in downtown Mukwonago with high visibility.
      318 S Rochester St, Mukwonago, WI 53145
      View Details
    • Contact for pricing

      Land Near Mukwonago Business Park

      Land adjacent to growing business park with rail spur potential.
      W Dewey Dr & Hwy 83, Mukwonago, WI
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - Land with easy freeway access, suitable for agricultural use.
    Where is this agricultural land / farmland located?
    The property is located at Lot 1 Hilo Drive Mukwonago, WI.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: No HOA or HOA restrictions.; Zoned RRD‑5, allows for agricultural use (chickens, horses, cattle acceptable).; Potential to run a business from home.
    (414) 881-1380
    We can help!
    Listing Contact
    Timothy J Abrahamson
    Real Estate License ID: 38228-90
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Lot 1 Hilo Drive, Mukwonago, WI 53149
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!