Office Building with Private
New
For Sale
$1,450,000
6251 FOREST HOME AVE, Milwaukee, WI 53220
Flexible layout includes reception, conference, kitchenette, and dedicated support areas.
Property Size11,430 SF
Price / SF$126.86
Days on Market7
Property Features for 6251 FOREST HOME AVE
General Information
Standard status
Active
Size
11,430 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$12,835
Amenities
reception area
private offices
activity areas
conference room
kitchenette
public restrooms
laundry room
mechanical room
storage hallway
two main entrances with metal-framed glass doors
Central Air
3
Carpet
LB1
10 Parking Spaces.
0.5 to .99
Building Details
Year Built
1978
Buildings
1
Listing Agency:
Forward Realty Partners
(262) 707-6267
Listed By:
Sean Lentz
(262) 707-6267
Source:
Xome
Added: Aug 6
Changed: Aug 12
Last Checked: Aug 12 at 3:14AM
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 Forward Realty Partners
Investment Insights
Based on property information with market context.
This 11,430-square-foot office building, constructed in 1978, offers a range of dedicated work and support areas. The interior includes a reception area, multiple private offices, activity areas, a conference room, kitchenette, public restrooms, laundry room, mechanical room, and storage hallway. Two primary entrances feature metal-framed glass doors, while central air supports interior comfort. Finishes include carpet, vinyl, and ceramic tile flooring, along with suspended acoustic ceilings and fluorescent lighting.
The property is located at 6251 Forest Home Ave in Milwaukee, Wisconsin, and provides 10 surface parking spaces for employees and visitors. The layout combines private rooms, shared activity areas, meeting space, and operational support rooms within a single office facility.
The property is located at 6251 Forest Home Ave in Milwaukee, Wisconsin, and provides 10 surface parking spaces for employees and visitors. The layout combines private rooms, shared activity areas, meeting space, and operational support rooms within a single office facility.
Key Highlights
- 11,430‑square‑foot office building constructed in 1978
- Multiple private offices, activity areas, conference room, and reception area
- Kitchenette, public restrooms, laundry room, mechanical room, and storage hallway
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
$130,696
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
9.01%
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%
$2,613,920
$2.6M
Cap Rate 7%
$1,867,086
$1.9M
Cap Rate 9%
$1,452,178
$1.5M
Market Conditions
NOI Build-Up for 11,430 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
$226.3K $19.80/SF
− Vacancy
−$52.1K −$4.55/SF
EGI
$174.3K $15.25/SF
− OpEx
−$43.6K −$3.81/SF
NOI
$130.7K $11.43/SF
Area
Milwaukee, WI
Vacancy
23.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
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%
$2,613,920
Cap Rate 7%
$1,867,086
Cap Rate 9%
$1,452,178
Alternative Uses
Best Use
Office B
$1.87M
$1.63M – $2.18M
NOI $130,696 @ 7.0% cap · market cap 9.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.75M
$2.40M – $3.20M
NOI $192,271 @ 7.0% cap · market cap 13.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
Explore this area
Business Placement
Demographics for 53220, WI
26,869
Population
12,547
Households
2.1
Avg Household Size
40
Median Age
27%
College-Educated
93%
High-School Grad
5.6 sq mi
ZIP Area
4,798
Density / Sq Mi
$69,301
Median Household Income
$47,844
Median Earnings
$1,063
Median Rent
$218,800
Median Home Value
Market
Vacancy Rate% for Office in Milwaukee, WI
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible layout includes reception, conference, kitchenette, and dedicated support areas.
Where is this office building located?
The property is located at 6251 FOREST HOME AVE Milwaukee, WI.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 11,430‑square‑foot office building constructed in 1978; Multiple private offices, activity areas, conference room, and reception area; Kitchenette, public restrooms, laundry room, mechanical room, and storage hallway
