Medical Office
For Sale
Contact for pricing
8870 South Mayhew Drive, Oak Creek, WI 53154
A 2017 medical office property in Oak Creek, Wisconsin, available for sale.
Property Size3,599 SF
Price / SF$262.12
Days on Market54
Property Features for 8870 South Mayhew Drive
General Information
Standard status
Active
Size
3,599 SF
Property subtype
Special Purpose
Building Details
Year Built
2017
Listing Agency:
Matthews
Listed By:
Jacob Friedman · License #IL 475169452
Source:
Crexi
Added: Aug 24
Changed: Oct 3
Last Checked: Oct 16 at 7:19AM
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 Matthews
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Investment Insights
Based on property information with market context.
This medical office condo was constructed in 2017 and is offered for sale at 8870 South Mayhew Drive in Oak Creek, Wisconsin. The property is identified as medical office space within a condominium format.
Key Highlights
- Medical office condominium property
- Built in 2017
- Located at 8870 South Mayhew Drive, Oak Creek, WI 53154
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,655
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$993,100
$993.1K
Cap Rate 7%
$709,357
$709.4K
Cap Rate 9%
$551,722
$551.7K
Market Conditions
NOI Build-Up for 3,599 SF
Gross rent
$94.6K $26.28/SF
− Vacancy
−$11.8K −$3.29/SF
EGI
$82.8K $23.00/SF
− OpEx
−$33.1K −$9.20/SF
NOI
$49.7K $13.80/SF
Area
Milwaukee County, WI
Vacancy
12.50%
Lease Rate
$26.28 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$993,100
Cap Rate 7%
$709,357
Cap Rate 9%
$551,722
Alternative Uses
Best Use
Healthcare Medical
$709.4K
$620.7K – $827.6K
NOI $49,655 @ 7.0% cap · market cap 5.26%
Second Best
Office B
$703.1K
$615.2K – $820.2K
NOI $49,214 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$853.5K
$746.8K – $995.7K
NOI $59,742 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
455
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53154, WI
36,497
Population
15,602
Households
2.3
Avg Household Size
39
Median Age
38%
College-Educated
95%
High-School Grad
28.5 sq mi
ZIP Area
1,281
Density / Sq Mi
$93,120
Median Household Income
$57,223
Median Earnings
$1,397
Median Rent
$305,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- UrgentVet — 8907 S Howell Ave suite 500, Oak Creek, WI 53154
- Petco Vaccination Clinic — 8551 S Howell Ave, Oak Creek, WI 53154
Frequently Asked Questions
What type of property is this?
Medical Office Space - A 2017 medical office property in Oak Creek, Wisconsin, available for sale.
Where is this medical office space located?
The property is located at 8870 South Mayhew Drive Oak Creek, WI.
What is the asking price?
The asking price for this property is $943,360.
What are key features of this property?
This property features: Medical office condominium property; Built in 2017; Located at 8870 South Mayhew Drive, Oak Creek, WI 53154
