Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Spacious Triplex in Wauwatosa Title is generated by Realmo AI

    7002 W Wisconsin Ave, Wauwatosa, WI 53213

    View on Map
    Claim this Listing
    For Sale
    $499,900

    Jumbo triplex in Wauwatosa with updated units and ample storage.

    Type:Multi Family
    Added:
    May 6, 2025
    Days on Market:
    391
    Last Refresh:
    May 29 at 1:13 am

    Property Features for 7002 W Wisconsin Ave

    General Information

    Standard status
    Active
    Property subtype
    Multi Family

    Building Details

    Year Built
    1922

    We can help!

    Listing Contact
    Tyler J Hart

    Listing agent Tyler J Hart License #87277-94

    Listing office Homestead Realty, Inc

    Listing date May 6, 2025

    Source Exitrealty

    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 Homestead Realty, Inc

    HighLights

    • Jumbo‑sized triplex in prime Wauwatosa location.
    • Vacant first‑floor unit with new appliances, hardwood floors, fresh paint, and extra room.
    • Second floor unit features new granite countertops and updated cabinets.
    • Third floor is bright and sunny with updated appliances.
    • Two sets of laundry in the basement for tenant convenience.
    • Two‑car detached garage and garden.

    Overview

    This jumbo-sized triplex is located in Wauwatosa. The property features three spacious units suitable for both owner-occupants and investors. The first floor unit is currently vacant and includes new appliances, built-in cabinets, a breakfast bar, hardwood floors, and fresh paint, along with two bedrooms and an additional room suitable for a home office or gym. The second floor unit is occupied and features new granite countertops, new appliances, updated cabinets, and hardwood floors, with two bedrooms and an extra room. The third floor unit is occupied, bright, and sunny, featuring two bedrooms, one bathroom, and updated appliances with updated flooring. The basement includes two sets of laundry facilities for tenant convenience and ample storage space. Additionally, the property has a two-car detached garage and a garden.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Wauwatosa
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -88.000099
    Latitude
    43.0391014

    Nearby Similar for Sale

    • $399,900
      1,576 SF

      Wauwatosa Commercial Building on North

      Freestanding 1576 SF building in prime commercial corridor.
      7027 W North Ave, Wauwatosa, WI 53213
      View Details
    • $2,910,000
      8,991 SF

      Harwood Avenue Retail Center

      Fully occupied retail asset in downtown Wauwatosa, Wisconsin.
      7954 Harwood Ave, Wauwatosa, WI 53213
      View Details
    • $399,900

      Wauwatosa Duplex in Ravenswood

      Charming, well-maintained duplex in desirable Wauwatosa neighborhood.
      8831 W Hawthorne Ave, Wauwatosa, WI 53226
      View Details
    • $389,000

      Wauwatosa Duplex in Washington Highlands

      Rare Wauwatosa duplex with original charm and modern updates.
      6221 W Lloyd St, Wauwatosa, WI 53213
      View Details
    • $375,000

      Charming Duplex in East Tosa

      Well-maintained Wauwatosa duplex with updates and desirable features.
      2410 N 61st St, Wauwatosa, WI 53213
      View Details
    • $425,000

      Charming Duplex in Prime Location

      Bungalow-style duplex in Wauwatosa with hardwood floors and updates.
      932 N 68th St, Wauwatosa, WI 53213
      View Details
    • $499,000

      Charming Wauwatosa Duplex with Updates

      Updated two-family home in Wauwatosa's desirable Pabst Park neighborhood.
      2200 N 64th St, Wauwatosa, WI 53213
      View Details
    • $795,000
      18,000 SF

      Wauwatosa Multi-Tenant Office Building

      Two-story office building suitable for owner occupancy.
      11040 W Bluemound Rd, Wauwatosa, WI
      View Details
    • $6,150,000
      23,351 SF

      Wauwatosa Multifamily Property with Retail

      48-unit multifamily property with three retail suites in Wauwatosa.
      7416 Harwood Ave, Wauwatosa, WI 53213
      View Details
    • $775,000
      3,874 SF

      Updated Office Space in Wauwatosa

      Updated 3,874 SF office space for rent.
      6222 W State St, Wauwatosa, WI
      View Details
    • $2,910,000
      8,991 SF

      Five-Unit Building Near Medical Complex

      Five-unit building near Milwaukee's Regional Medical Complex.
      7954 Harwood Ave, Wauwatosa, WI 53213
      View Details
    • $795,000
      18,000 SF

      Wauwatosa Two-Story Office Building

      Two-story multi-tenant office building in Wauwatosa, Wisconsin.
      11040 W Bluemound, Wauwatosa, WI 53226
      View Details

    FAQs

    What type of property is this?
    Triplex - Jumbo triplex in Wauwatosa with updated units and ample storage.
    Where is this triplex located?
    The property is located at 7002 W Wisconsin Ave Wauwatosa, WI.
    What is the asking price?
    The asking price for this property is $499,900.
    What are key features of this property?
    This property features: Jumbo‑sized triplex in prime Wauwatosa location.; Vacant first‑floor unit with **new appliances, hardwood floors, fresh paint, and extra room.**; Second floor unit features new granite countertops and updated cabinets.
    (414) 870-8004
    We can help!
    Listing Contact
    Tyler J Hart
    Real Estate License ID: 87277-94
    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
    7002 W Wisconsin Ave, Wauwatosa, WI 53213
    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!