13180-13200 Watertown Plank Rd Elm Grove, WI 53122
Sponsored
For Sale
$1,189,000
Prime Elm Grove location, executive office space.
Property size:
6,772 SF
Description
Added:
Dec 11, 2024
Days on Market:
405
This exceptional mid-century modern building, located at 13180-13200 Watertown Plank Road in Elm Grove, Wisconsin, presents a unique investment opportunity. The property boasts 6,772 square feet of space, with 6,672 square feet of net rentable area, currently vacant and available for lease or sale. The building is situated on approximately 0.54 acres and features a desirable B-1 Local Business District zoning, allowing for a variety of uses including retail, office, or service businesses. The property includes 20 parking spaces, plus ample street parking, and is conveniently located near restaurants, bars, grocery stores, banks, parks, and major highways (I-41 and I-94). The building's construction is masonry, with natural gas-fired rooftop HVAC units. The property is divided into two parcels: 13180 Watertown Plank Road (1,672 sq ft, 0.3369 acres, APN EGV1106006, 2021 taxes $2,959.67) and 13200 Watertown Plank Road (5,000 sq ft, 0.2006 acres, APN EGV1106007, 2021 taxes $5,621.64). The asking price is $1,189,000, and lease rates are negotiable, with suggested rates of $22.00/sq ft NNN for 13180 and $17.50/sq ft NNN for 13200. The property also includes a 5,000 sq ft basement and 1,000 sq ft of cold storage. High traffic counts on Watertown Plank Road (7,900-9,300 vehicles daily in 2018) further enhance its desirability. The property's proximity to the Milwaukee County Research Park and Mayfair Mall adds to its appeal. This is an excellent opportunity to own a piece of Elm Grove's history and capitalize on its prime location.
Property Features for 13180-13200 Watertown Plank Rd
General Information
Property type
Office Properties & Spaces
Square Feet
6,772 SF
Lot Size
8,712 SF
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Listing Contact
Daniel Walsh
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HighLights
Sale price negotiable.
Available space: 1,672 SF at 13180 Watertown Plank Rd and 5,000 SF at 13200 Watertown Plank Rd.
Lease rates: $22/SF NNN at 13180 Watertown Plank Rd and $17.50/SF NNN at 13200 Watertown Plank Rd.
6,772 SF building plus 5,000 SF basement and 1,000 SF cold storage.
Masonry construction.
0.54‑acre lot (0.3369 acres at 13180, 0.2006 acres at 13200).
Office Property / Space - Prime Elm Grove location, executive office space.
Where is this office property / space located?
The property is located at 13180-13200 Watertown Plank Rd Elm Grove, WI.
What is the asking price?
The asking price for this property is $1,189,000.
What are key features of this property?
This property features: Sale price negotiable.; Available space: 1,672 SF at 13180 Watertown Plank Rd and 5,000 SF at 13200 Watertown Plank Rd.; Lease rates: $22/SF NNN at 13180 Watertown Plank Rd and $17.50/SF NNN at 13200 Watertown Plank Rd.
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13180-13200 Watertown Plank Rd Elm Grove, WI 53122
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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
13180-13200 Watertown Plank Rd Elm Grove, WI 53122
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13180-13200 Watertown Plank Rd, Elm Grove, WI
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13180-13200 Watertown Plank Rd, Elm Grove, WI
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Listing Contact
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Real Estate License ID: WI 58230
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