Greenfield Medical Building For
For Sale
Contact for pricing
4600 W Loomis Rd, Greenfield, WI 53220
Three-story medical building with synergistic tenants and high visibility.
Property Size62,681 SF
Lot Size6.16 Acres
Price / SF$167.51
Days on Market799
Property Features for 4600 W Loomis Rd
General Information
Standard status
Active
Size
62,681 SF
Lot size
6.16 Acres
Property subtype
Office
Zoning
C2 Commercial
Building Details
Year Built
2007
Listing Agency:
Newmark - Milwaukee
(414) 347-9400
Listed By:
Rachel Schmidt, CCIM · License #WI 38377
Source:
Crexi
Added: Jun 1, 2024
Changed: Aug 8
Last Checked: Aug 8 at 4:27AM
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 Newmark - Milwaukee
Investment Insights
Based on property information with market context.
Located at 4600 W. Loomis Rd in Greenfield, Wisconsin, this is a three-story, multi-tenant medical building. Constructed in 2007, the masonry building has a total area of 62,681 square feet and is situated on a 6.16-acre parcel. The property features a mix of suite sizes and a balance of long-term, synergistic medical tenants. The building offers excellent visibility and monument signage along Loomis Road. The site benefits from strong area demographics and provides two easy access points along Loomis Road. Access to I-41/43/94/894 is available within minutes.
Key Highlights
- Multi‑tenant medical building totaling 62,681 square feet.
- Constructed in 2007, minimizing potential maintenance costs.
- Strong area demographics, ideal for medical practices.
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
$864,810
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
8.24%
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%
$17,296,200
$17.3M
Cap Rate 7%
$12,354,429
$12.4M
Cap Rate 9%
$9,609,000
$9.6M
Market Conditions
NOI Build-Up for 62,681 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
$1.65M $26.28/SF
− Vacancy
−$205.9K −$3.29/SF
EGI
$1.44M $23.00/SF
− OpEx
−$576.5K −$9.20/SF
NOI
$864.8K $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 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%
$17,296,200
Cap Rate 7%
$12,354,429
Cap Rate 9%
$9,609,000
Alternative Uses
Best Use
Healthcare Medical
$12.35M
$10.81M – $14.41M
NOI $864,810 @ 7.0% cap · market cap 8.24%
Second Best
Office B
$12.24M
$10.71M – $14.29M
NOI $857,126 @ 7.0% cap · market cap 8.16%
Theoretical Best
Office A
$14.86M
$13.01M – $17.34M
NOI $1,040,477 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
510
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53220, WI
26,869
Population
12,547
Households
2.1
Avg Household Size
40
Median Age
27%
College-Educated
93%
High-School Grad
5.6 sq mi
ZIP Area
4,798
Density / Sq Mi
$69,301
Median Household Income
$47,844
Median Earnings
$1,063
Median Rent
$218,800
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?
Medical Office Space - Three-story medical building with synergistic tenants and high visibility.
Where is this medical office space located?
The property is located at 4600 W Loomis Rd Greenfield, WI.
What is the asking price?
The asking price for this property is $10,500,000.
What are key features of this property?
This property features: Multi‑tenant medical building totaling 62,681 square feet.; Constructed in 2007, minimizing potential maintenance costs.; Strong area demographics, ideal for medical practices.
