Building Details

Construction cut limestone, glazed brick and glass

Listing Agency: Transwestern Commercial Services WI Show Phone

Listed By: Daniel Walsh Show Phone

Source: Moodyscre

Added: Mar 2, 2021 Changed: Sep 15 Last Checked: Sep 19 at 10:23AM

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Investment Insights

Based on property information with market context.

This 6,265-square-foot storefront property in the Village of Elm Grove features clean modern lines with cut limestone, glazed brick, and glass. The property supports a range of commercial applications, including retail, office, service, and build-to-suit development. Its storefront-oriented design and existing material palette provide a distinct physical identity for an owner or occupant seeking a visible commercial presence.

The property is located at 13180-13200 Watertown Plank Rd in Elm Grove, Wisconsin. The address places the asset within the Village of Elm Grove and provides a defined setting for retail, office, service, or future build-to-suit use.

Key Highlights

• 6,265‑square‑foot storefront property
• Clean modern lines with cut limestone, glazed brick, and glass
• Supports retail, office, service, or build‑to‑suit use

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$88,780

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

7.47%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,775,600 $1.8M

Cap Rate 7%

$1,268,286 $1.3M

Cap Rate 9%

$986,444 $986.4K

Market Conditions

NOI Build-Up for 6,265 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$131.6K $21.00/SF

− Vacancy

−$4.7K −$0.76/SF

EGI

$126.8K $20.24/SF

− OpEx

−$38.0K −$6.07/SF

NOI

$88.8K $14.17/SF

Area

Waukesha County, WI

Vacancy

3.60%

Lease Rate

$21.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$1,775,600

Cap Rate 7%

$1,268,286

Cap Rate 9%

$986,444

Alternative Uses

Best Use

Retail

$1.27M

$1.11M – $1.48M (±1% cap)

NOI $88,780 @ 7.0% cap · market cap 7.47%

Second Best

—

—

no second resolved use

Theoretical Best

Flex RnD

$3.20M

$2.80M – $3.73M (±1% cap)

NOI $223,823 @ 7.0% cap · market cap 18.82%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Restaurant Auto Parts Store Parking Lot & Garage Dental Office Electrical Service Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

564

Businesses Nearby

29k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 66% Shops & Services 34%

Sendik's Food Market Groceries

18,900 visits/mo 0.2 miles

BP Shops & Services

4,149 visits/mo 0.1 miles

BMO Harris Bank Shops & Services

3,622 visits/mo 0.3 miles

U.S. Bank Shops & Services

2,053 visits/mo 0.2 miles

Demographics for 53122, WI

6,578

Population

2,335

Households

2.8

Avg Household Size

46

Median Age

67%

College-Educated

99%

High-School Grad

3.3 sq mi

ZIP Area

1,993

Density / Sq Mi

$133,036

Median Household Income

$71,862

Median Earnings

$1,788

Median Rent

$470,200

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Commercial property supporting retail, office, service, or build-to-suit use in Elm Grove.

Where is this storefront property located?

The property is located at 13180-13200 Watertown Plank Rd Elm Grove, WI.

What is the asking price?

The asking price for this property is $1,189,000.

What are key features of this property?

This property features: 6,265‑square‑foot storefront property; Clean modern lines with cut limestone, glazed brick, and glass; Supports retail, office, service, or build‑to‑suit use