New Office Unit
For Sale
$3,200,000
8949 N Deerbrook Trl, Brown Deer, WI 53223
Business condominium property with six to eight pre-leased office units and a 2023 construction date.
Property Size17,176 SF
Price / SF$186.31
Days on Market143
Property Features for 8949 N Deerbrook Trl
General Information
Standard status
Active
Size
17,176 SF
Total Parking Spaces
20
Property subtype
Commercial
Zoning
PDU
Taxes and HOA fees
Annual Taxes
$30,660
Building Details
Building Size
17,176 SF
Year Built
2023
Listing Agency:
First Weber Inc -NPW
(262) 307-1440
Listed By:
Rachel Greer · License #97647-94
(262) 307-1440
Source:
Therealtycompanyllc
Added: Mar 20
Changed: Aug 6
Last Checked: Aug 9 at 1:56PM
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 First Weber Inc -NPW
Investment Insights
Based on property information with market context.
Completed in 2023, this business condominium property contains 17,176 square feet of office space configured as 6-8 pre-leased units. The development is zoned PDU and offers a multi-unit ownership structure within a newly built office community.
The property is positioned among several recently developed destinations, including Potawatomi's New Fireside Market, Cobalt Partners' new sports complex, and Target's newest location. Village 43 market-rate apartments are located across the street, adding established residential context to the surrounding commercial development.
The property is positioned among several recently developed destinations, including Potawatomi's New Fireside Market, Cobalt Partners' new sports complex, and Target's newest location. Village 43 market-rate apartments are located across the street, adding established residential context to the surrounding commercial development.
Key Highlights
- 17,176‑square‑foot office condominium community completed in 2023
- Configured with 6‑8 pre‑leased office units
- Zoned PDU
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
$234,872
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
7.34%
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%
$4,697,440
$4.7M
Cap Rate 7%
$3,355,314
$3.4M
Cap Rate 9%
$2,609,689
$2.6M
Market Conditions
NOI Build-Up for 17,176 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
$426.7K $24.84/SF
− Vacancy
−$113.5K −$6.61/SF
EGI
$313.2K $18.23/SF
− OpEx
−$78.3K −$4.56/SF
NOI
$234.9K $13.67/SF
Area
Milwaukee County, WI
Vacancy
26.60%
Lease Rate
$24.84 /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%
$4,697,440
Cap Rate 7%
$3,355,314
Cap Rate 9%
$2,609,689
Alternative Uses
Best Use
Office B
$3.36M
$2.94M – $3.91M
NOI $234,872 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.07M
$3.56M – $4.75M
NOI $285,114 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Business condominium property with six to eight pre-leased office units and a 2023 construction date.
Where is this office units located?
The property is located at 8949 N Deerbrook Trl Brown Deer, WI.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 17,176‑square‑foot office condominium community completed in 2023; Configured with 6‑8 pre‑leased office units; Zoned PDU
