Brookfield Medical Office
For Sale
Contact for pricing
18200 W Capitol Dr, Brookfield, WI 53045
Multi-tenant medical office building in Brookfield, Wisconsin.
Property Size24,577 SF
Price / SF$427.23
Days on Market168
Property Features for 18200 W Capitol Dr
General Information
Standard status
Active
Size
24,577 SF
Class
A
Property subtype
Office
Occupancy
100%
Lease Type
NNN
Building Details
Year Built
2007
Year Renovated
2024
Tenancy
Multi
Listing Agency:
Hunter Real Estate
(815) 482-0105
Listed By:
Michael Testa, CCIM · License #WI 85599-94
Source:
Crexi
Added: Feb 26
Changed: Aug 8
Last Checked: Aug 12 at 11:08AM
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 Hunter Real Estate
Investment Insights
Based on property information with market context.
The SAAK Health Medical Office Building, a multi-tenant facility located in Brookfield, Wisconsin, offers 24,577 square feet of space. Purchased by SAAK Health in 2022, the property underwent an expansion and extensive renovations completed in 2024. The facility is currently 100% leased with a weighted average lease term (WALT) of 8.3 years. It is anchored by SAAK Health, a cardiology practice in Waukesha County, occupying 63% of the gross leasable area (GLA). SAAK Health's space includes a newly built, state-of-the-art Ambulatory Surgery Center (ASC), accounting for 34% of the GLA, and a clinic comprising 29% of the GLA. The clinic offers specialization in cardiology, wound care, women’s health, and family medicine. Upon closing, SAAK Health is expected to execute a new 12-year NNN lease with 3.0% annual escalations, providing long-term, stable cash flow in Wisconsin's third most populous county.
Key Highlights
- 100% leased medical office building with a weighted average lease term (WALT) of 8.3 years.
- Anchored by SAAK Health, a leading independent cardiology practice in Waukesha County, occupying 63% of the GLA.
- SAAK Health to execute a new 12‑year NNN lease with 3.0% annual escalations upon closing.
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
$810,495
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
7.72%
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%
$16,209,900
$16.2M
Cap Rate 7%
$11,578,500
$11.6M
Cap Rate 9%
$9,005,500
$9.0M
Market Conditions
NOI Build-Up for 24,577 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
$1.37M $55.80/SF
− Vacancy
−$20.6K −$0.84/SF
EGI
$1.35M $54.96/SF
− OpEx
−$540.3K −$21.99/SF
NOI
$810.5K $32.98/SF
Area
Waukesha County, WI
Vacancy
1.50%
Lease Rate
$55.80 /SF/Yr
Expense Ratio
40.00%
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%
$16,209,900
Cap Rate 7%
$11,578,500
Cap Rate 9%
$9,005,500
Alternative Uses
Best Use
Healthcare Medical
$11.58M
$10.13M – $13.51M
NOI $810,495 @ 7.0% cap · market cap 7.72%
Second Best
Office B
$4.87M
$4.27M – $5.69M
NOI $341,204 @ 7.0% cap · market cap 3.25%
Theoretical Best
Flex RnD
$12.54M
$10.98M – $14.63M
NOI $878,037 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53045, WI
23,651
Population
10,061
Households
2.4
Avg Household Size
45
Median Age
62%
College-Educated
98%
High-School Grad
14.4 sq mi
ZIP Area
1,642
Density / Sq Mi
$116,541
Median Household Income
$62,417
Median Earnings
$1,867
Median Rent
$443,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- CARE Surgery Center — 19035 W Capitol Dr Ste J101, Brookfield, WI 53045
Frequently Asked Questions
What type of property is this?
Medical Office Space - Multi-tenant medical office building in Brookfield, Wisconsin.
Where is this medical office space located?
The property is located at 18200 W Capitol Dr Brookfield, WI.
What is the asking price?
The asking price for this property is $10,500,000.
What are key features of this property?
This property features: 100% leased medical office building with a weighted average lease term (WALT) of 8.3 years.; Anchored by SAAK Health, a leading independent cardiology practice in Waukesha County, occupying 63% of the GLA.; SAAK Health to execute a new 12‑year NNN lease with 3.0% annual escalations upon closing.
