Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    10499 West Innovation Dr Wauwatosa, WI 53226

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $24 SF/Yr ($10,000 /Mo)

    Full-service restaurant in high-traffic area near major employers.

    Property size:
    5,000 SF
    Lot size:
    5,000 SF

    Property Features for 10499 West Innovation Dr

    General Information

    Standard status
    Active
    Size
    5,000 SF

    We can help!

    Listing Contact
    Ben Weiland
    Source: Cbre

    Listing Agency: CBRE - Milwaukee Listing Agent: Ben Weiland

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

    Learn more

    Property Insight Report

    Overview

    Turnkey Restaurant in Wauwatosa

    This turnkey, full-service restaurant is located at the hard corner of Mayfair Road and Watertown Plank Road in Wauwatosa. The property is situated within the Milwaukee County Research Park, which houses over 80 companies and approximately 10,000 employees. Its location also offers proximity to the Milwaukee Regional Medical Center, which has over 21,000 employees and students and sees around 3 million visitors annually. The restaurant is located on the main level of the Sonesta Hotel, which features 200 rooms, providing a built-in customer base. The property has a size of 5,000 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Turn key restaurants

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Wauwatosa
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -88.0461655
    Latitude
    43.0446568

    Nearby Similar for Lease

    • Contact for pricing

      Retail Space Near Mayfair Mall

      Retail spaces available across from Mayfair Mall in Wauwatosa, Wisconsin.
      2265 North Mayfair Rd, Wauwatosa, WI 53226
      View Details
    • Contact for pricing

      Prime Office Space at Mayfair

      Highly visible office space with excellent access and amenities.
      2600 North Mayfair Rd, Wauwatosa, WI 53226
      View Details
    • Contact for pricing

      Office Space at Mayfair

      Office space with direct access to Mayfair Mall.
      2500 North Mayfair Rd, Wauwatosa, WI 53226
      View Details
    • $15 SF/Yr
      2,532 SF

      Wauwatosa Office Space Available

      Office space for rent in Wauwatosa, all utilities included.
      2525 N Mayfair Rd, Wauwatosa, WI 53226
      View Details
    • $25 SF/Yr
      4,626 SF

      North Avenue Retail Space Available

      Redeveloped retail space in high-density area, 1,142-4,626 SF.
      6715 West North Ave, Wauwatosa, WI 53213
      View Details
    • $35 SF/Yr
      46,487 SF

      Retail Space Near Mayfair Mall

      2,605 SF retail space in Wauwatosa, Wisconsin for lease.
      2711-2751 North Mayfair Rd, Wauwatosa, WI 53226
      View Details
    • Contact for pricing

      Accessible Office Space Available

      Office space with elevator and easy highway access for rent.
      2711 N Mayfair Rd, Wauwatosa, WI 53222
      View Details
    • Contact for pricing
      339,281 SF

      Sublease Opportunity in Milwaukee Research

      Available for sublease through December 2026 in Milwaukee Research.
      9900 West Innovation Dr, Wauwatosa, WI 53226
      View Details
    • $22 SF/Yr
      1,059 SF

      Wauwatosa Office Space Available

      Bright 1,059 SF office space for lease.
      10225 W Capitol Dr, Wauwatosa, WI
      View Details
    • $14 SF/Yr

      Office Space Near Mayfair Mall

      Office space for rent with high visibility near Mayfair Mall.
      2825 North Mayfair Rd, Wauwatosa, WI 53222
      View Details
    • Contact for pricing
      2,231 SF

      Retail Space on Bluemound Road

      Retail space available for rent on Bluemound Road.
      11216 W Blue Mound Rd, Wauwatosa, WI 53210
      View Details
    • $15 SF/Yr
      3,000 SF

      Milwaukee/Wauwatosa Flex/Industrial Space

      Flex/industrial space near 76th & Center in Milwaukee/Wauwatosa.
      2622 North Wauwatosa Ave, Wauwatosa, WI 53213
      View Details

    FAQs

    What type of property is this?
    Restaurant - Full-service restaurant in high-traffic area near major employers.
    Where is this restaurant located?
    The property is located at 10499 West Innovation Dr Wauwatosa, WI.
    What is the lease rate?
    The lease rate is $24 SF/Yr.
    What are key features of this property?
    This property features: - Turnkey full-service restaurant.; - Located on the hard corner of Mayfair Road and Watertown Plank Road.; - Located in the Milwaukee County Research Park (10,000 employees).
    (414) 274-1650
    Request Owner's contact information
    10499 West Innovation Dr Wauwatosa, WI 53226
    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.
    10499 West Innovation Dr
    Wauwatosa, WI 53226
    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
    10499 West Innovation Dr Wauwatosa, WI 53226
    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

    We can help!
    Listing Contact
    Ben Weiland
    (414) 274-1650 (414) 273-0880 (920) 213-7308
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!