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    1120-1124 Delafield St Waukesha, WI 53188

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    For Lease
    Contact for pricing

    Prime Waukesha retail space, high visibility, immediate occupancy.

    Lot size:
    23,253 SF

    Property Features for 1120-1124 Delafield St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    23,253 SF

    Building Details

    Year Built
    1966

    Spaces For Lease

    at 1120-1124 Delafield St, Waukesha, WI 53188 Contact us

    We can help!

    Listing Contact
    Mike Fitzgerald
    Mike Fitzgerald

    Listing Agency: Mid America Real Estate Milwaukee Listing Agent: Mike Fitzgerald

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Moreland Plaza, located at 1120-1124 Delafield St, Vernon, WI 53188, offers a fantastic retail opportunity in Waukesha County. This single-tenant property boasts a total building size of 23,253 square feet, with 2,158 square feet currently available for lease. Built in 1966, the building is zoned B-1 Local Business, making it ideal for a variety of commercial uses. The space was previously a restaurant and offers 1,726 square feet of readily available space. The property enjoys excellent accessibility, with convenient access to I-94 and State Highways 59 and 18, ensuring high visibility and ample customer traffic. The location benefits from a projected 0.29% population increase over the next five years, indicating strong future growth potential. Access to the property is facilitated by three curb cuts: two on Delafield Street and one on West Moreland Boulevard, providing convenient ingress and egress. This presents a unique opportunity for businesses seeking a well-located, readily available retail space in a growing community. The property is situated in Waukesha County, Wisconsin, offering a strong local market and excellent infrastructure. Don't miss this chance to establish your business in this thriving area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waukesha
    County
    Waukesha
    State
    Wisconsin
    Longitude
    -88.2414976
    Latitude
    43.0236917

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    FAQs

    What type of property is this?
    Retail property - Prime Waukesha retail space, high visibility, immediate occupancy.
    Where is this retail property located?
    The property is located at 1120-1124 Delafield St Waukesha, WI.
    What are key features of this property?
    This property features: Excellent I-94, Hwy 59, and Hwy 18 access.; 0.29% population growth projected over five years.; Multiple curb cuts provide convenient access from Delafield St. and W. Moreland Blvd.
    (262) 613-3888 Call to check price and availability
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    Waukesha, WI 53188
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1120-1124 Delafield St Waukesha, WI 53188
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    Contact for Pricing
    Please call us for current price
    and status of this listing Mike Fitzgerald
    Mike Fitzgerald
    Real Estate License ID: 5555294
    (262) 613-3888
    Learn more
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