Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    6701 S Prairiewood Ln Franklin, WI 53132

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $575,000

    Land approved for 12 ranch duplex condo units.

    Lot size:
    12.59 Acres

    Property Features for 6701 S Prairiewood Ln

    General Information

    Lot size
    12.59 Acres

    We can help!

    Listing Contact
    Daniel C. Scardino
    Source: Moodyscre

    Listing Agent: Daniel C. Scardino

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

    Learn more

    Property Insight Report

    Overview

    Franklin Land Development Opportunity

    This property presents a development opportunity within the Woodland Prairie Condominiums, situated in Franklin, Wisconsin. The location offers proximity to shopping, restaurants, parks, and freeway access. Approved for the construction of 12 side-by-side ranch duplex condominium units, configured as 6 buildings, this land provides an investment opportunity for development projects.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -88.0467914
    Latitude
    42.9224931

    Nearby Similar for Sale

    • $499,900
      2,601 SF

      Renovated Whitstone Village Gem

      Thoughtfully renovated home with pond views and custom features.
      7431 Carter Cir W, Franklin, WI 53132
      View Details
    • $750,000
      4,500 SF

      Mixed-Use Building with Residential House

      Mixed-use building with warehouse, office, and a residential house.
      9438 S 29Th St, Franklin, WI 53132
      View Details
    • $4,749,000
      31,318 SF

      Industrial/Manufacturing Facility with Expansion Potential

      31,318 SF industrial/manufacturing facility on 5.94 acres for sale.
      9980 S Oakwood Park Dr, Franklin, WI 53132
      View Details
    • Contact for pricing
      5 SF

      Retail Endcap with Signage

      Retail property featuring high visibility and multiple access points.
      6531-6537 S 27Th St, Franklin, WI 53132
      View Details
    • $488,000
      2,000 SF

      11217 W Forest Home Ave, Franklin, WI

      Warehouses • 2,000 SF
      11217 W Forest Home Ave, Franklin, WI 53132
      View Details
    • $1,600,000
      5,502 SF

      Franklin Restaurant & Home - Turnkey Opportunity

      Established Franklin restaurant, home included, ample parking.
      8330 Puetz Rd, Franklin, WI 53132
      View Details
    • $1,729,000
      1,800 SF

      Franklin Commercial Land - 13 Acres

      Prime Franklin location, 1800 sqft building, huge potential.
      5732 Rawson Ave, Franklin, WI 53132
      View Details
    • $2,500,000
      5,280 SF

      Franklin, WI Restaurant & Apartment Building

      Turnkey Restaurant, Redevelopment Potential, High Visibility
      8405 27Th St, Franklin, WI 53132
      View Details
    • $750,000
      4,500 SF

      Franklin Live/Work Opportunity

      Mixed-use building, office, warehouse, home
      9438 29Th St, Franklin, WI 53132
      View Details
    • $2,200,000
      2,851 SF

      Franklin Retail Center - Highway 100

      High-traffic retail property, 2,851 sq ft.
      10001 Church St, Franklin, WI 53132
      View Details

    FAQs

    What type of property is this?
    Land - Land approved for 12 ranch duplex condo units.
    Where is this land located?
    The property is located at 6701 S Prairiewood Ln Franklin, WI.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: - Approved for building 12 side-by-side ranch duplex condo units (6 buildings).; - Prime location in the City of Franklin.; - Great investment opportunity.
    (262) 424-0437
    Request Owner's contact information
    6701 S Prairiewood Ln Franklin, WI 53132
    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.
    6701 S Prairiewood Ln
    Franklin, WI 53132
    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
    6701 S Prairiewood Ln Franklin, WI 53132
    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
    Daniel C. Scardino
    (262) 424-0437
    Learn more
    Google sign-in failed. Please try again or use another login method.