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    The Largest CRE Database in the US with Over 1 Million Listings

    2515 124Th St Brookfield, WI 53005

    Sponsored
    For Lease
    $14 SF/Yr ($18,454 /Mo)

    Executive Suites, 5 Spaces Available

    Lot size:
    15,818 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    422
    This exceptional two-story, Class B office building, located at 2515 N 124th St in Brookfield, WI 53005, offers 15,818 square feet of versatile space currently available for lease. The property sits on a generous 5.01-acre lot, providing ample parking and a desirable location within the WI - Brookfield submarket. The building is perfect for businesses seeking executive office space, with a minimum divisible unit of 1,035 square feet and the option to lease the entire 15,818 square feet contiguously. The flexible floor plan caters to various business needs, from small startups to larger organizations. While the building does not feature elevators, its two-story design ensures easy accessibility. The property is classified as mixed-use, offering potential for diverse business applications. This prime location in Brookfield provides excellent visibility and convenient access to major transportation routes. The entire building is currently vacant, presenting a unique opportunity for a single tenant or multiple businesses to establish a presence in this thriving community. Inquire today to learn more about leasing options and explore the possibilities this exceptional property offers.

    Property Features for 2515 124Th St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    15,818 SF
    Class
    B
    Total Rate
    18454.33

    Building Details

    Stories
    2

    Spaces For Lease

    at 2515 124Th St, Brookfield, WI 53005 Contact us
    Unit Floor 2, Suite 201

    $14 /Mo

    Size
    1,800 SF
    Contact us
    Unit Floor 2, Suite 220

    $14 /Mo

    Size
    1,310 SF
    Contact us
    Unit Floor 2, Suite 210

    $14 /Mo

    Size
    1,035 SF
    Contact us
    Unit 1st Floor

    $17 /Mo

    Size
    7,690 SF
    Contact us
    Unit Suite 203

    $14 /Mo

    Size
    2,000 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Lori Choinski

    Learn more

    HighLights

    • 85.18% Occupancy Rate
    • Strong tenant base with long‑term leases
    • Prime location in a high‑growth market
    • Excellent visibility and accessibility
    • Modern building systems and amenities
    Property Profile Location Intelligence

    Current Use by Public Records

    Fitzgibbon Terri Foster Care Service Habrel Eric PhD Physician Karol Wendt Foster Care Service Lynn O'brien Foster Care Service Custard Insurance Adjusters Insurance Agency

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Brookfield
    County
    Waukesha
    State
    Wisconsin
    Longitude
    -88.0680724
    Latitude
    43.0641004

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    FAQs

    What type of property is this?
    Office Property / Space - Executive Suites, 5 Spaces Available
    Where is this office property / space located?
    The property is located at 2515 124Th St Brookfield, WI.
    What is the lease rate?
    The lease rate is $14-$17 SF/Yr.
    What are key features of this property?
    This property features: 85.18% Occupancy Rate; Strong tenant base with long-term leases; Prime location in a high-growth market
    Request Owner's contact information
    2515 124Th St Brookfield, WI 53005
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    Brookfield, WI 53005
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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
    2515 124Th St Brookfield, WI 53005
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    We can help!
    Listing Contact
    Lori Choinski
    Real Estate License ID: 4842990
    Learn more
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