Building Details

Year built 2006

Architectural style Other

Listing Agency: Keller Williams Realty-Milwaukee Southwest d***@kw.com Show Phone

Listed By: Elizabeth Mitchell Show Phone

Added: May 27 Changed: Oct 13 Last Checked: Oct 19 at 6:06AM

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MLS# 1964484

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Investment Insights

Based on property information with market context.

This 11,367-square-foot flex property was built in 2006 and is currently arranged for church and daycare operations. The interior includes 9 classrooms, 9 baths, 2 offices, a laundry room, and a commercial kitchen, supported by a full sprinkler system. A fenced playground occupies the rear of the property.

The site encompasses 4.28 acres and includes an adjacent 2-acre lot. On-site parking accommodates 14 cars, with additional street parking available. The property is located in Milwaukee and is identified with RM1 zoning.

Key Highlights

• 11,367 square feet; built in 2006
• 4.28‑acre site with an adjacent 2‑acre lot
• 9 classrooms and 9 baths

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$111,914

Cap Rate

7.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,238,280 $2.2M

Cap Rate 7%

$1,598,771 $1.6M

Cap Rate 9%

$1,243,489 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 11,367 SF

Gross rent

$184.1K $16.20/SF

− Vacancy

−$12.0K −$1.05/SF

EGI

$172.2K $15.15/SF

− OpEx

−$60.3K −$5.30/SF

NOI

$111.9K $9.85/SF

Area

Milwaukee, WI

Vacancy

6.50%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,238,280

Cap Rate 7%

$1,598,771

Cap Rate 9%

$1,243,489

Alternative Uses

Best Use

Flex RnD

$1.60M

$1.40M – $1.87M (±1% cap)

NOI $111,914 @ 7.0% cap · market cap 7.46%

Second Best

Industrial

$591.3K

$517.4K – $689.9K (±1% cap)

NOI $41,392 @ 7.0% cap · market cap 2.76%

Theoretical Best

Office A

$2.73M

$2.39M – $3.19M (±1% cap)

NOI $191,211 @ 7.0% cap · market cap 12.75%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Acelero Learning High School Eternal Life Church-God ... Church

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Building Supply Restaurant 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.

Lease Details

Yes

Sprinkler system

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

362

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 53223, WI

28,884

Population

13,436

Households

2.1

Avg Household Size

39

Median Age

29%

College-Educated

90%

High-School Grad

9.9 sq mi

ZIP Area

2,918

Density / Sq Mi

$60,477

Median Household Income

$44,625

Median Earnings

$1,071

Median Rent

$184,300

Median Home Value

Market

Vacancy Rate% for Industrial in Milwaukee, WI

4.3% 2019

4.7% 2020

3.1% 2021

2.3% 2022

3.1% 2023

3.7% 2024

4.2% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Commercial building configured with classrooms, offices, a kitchen, and a fenced playground.

Where is this flex space located?

The property is located at 7901 N 66th St Milwaukee, WI.

What is the asking price?

The asking price for this property is $1,500,000.

What are key features of this property?

This property features: 11,367 square feet; built in 2006; 4.28‑acre site with an adjacent 2‑acre lot; 9 classrooms and 9 baths