Flex Space with Secured
New
For Sale
$220,000
9903 W Brown Deer Rd, Milwaukee, WI 53224
Open work areas, secure storage, and on-site parking serve a range of commercial needs.
Property Size2,900 SF
Price / SF$75.86
Days on Market2
Property Features for 9903 W Brown Deer Rd
General Information
Standard status
Active
Size
2,900 SF
Additional Details
Road Access
Yes
Clear Height
10 ft
Building Details
Year Built
1968
Buildings
1
Building Size
2,900 SF
Listing Agency:
Homestead Realty, Inc
Listed By:
Imani London
(414) 404-5797
Source:
Levelupwi
Added: Sep 26
Last Checked: Sep 26 at 2:41PM
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 Homestead Realty, Inc
Investment Insights
Based on property information with market context.
This 2,900-square-foot flex property was built in 1968 and includes open work areas, secured storage, and ceilings of approximately 10 feet. On-site parking is available.
The building is at 9903 W Brown Deer Rd in Milwaukee, near 99th and Brown Deer Rd.
The building is at 9903 W Brown Deer Rd in Milwaukee, near 99th and Brown Deer Rd.
Key Highlights
- 2,900‑square‑foot flex property
- Open work areas and secured storage
- Ceilings approximately 10 feet high
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
$12,823
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
5.83%
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%
$256,460
$256.5K
Cap Rate 7%
$183,186
$183.2K
Cap Rate 9%
$142,478
$142.5K
Market Conditions
NOI Build-Up for 2,900 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
$15.9K $5.47/SF
− Vacancy
−$777 −$0.27/SF
EGI
$15.1K $5.20/SF
− OpEx
−$2.3K −$0.78/SF
NOI
$12.8K $4.42/SF
Area
Milwaukee, WI
Vacancy
4.90%
Lease Rate
$5.47 /SF/Yr
Expense Ratio
15.00%
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%
$256,460
Cap Rate 7%
$183,186
Cap Rate 9%
$142,478
Alternative Uses
Best Use
Flex RnD
$407.9K
$356.9K – $475.9K
NOI $28,552 @ 7.0% cap · market cap 12.98%
Second Best
Warehouse
$183.2K
$160.3K – $213.7K
NOI $12,823 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$696.9K
$609.8K – $813.1K
NOI $48,783 @ 7.0% cap · market cap 22.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
10 ft
Clear height
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
220
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53224, WI
20,786
Population
8,530
Households
2.4
Avg Household Size
32
Median Age
27%
College-Educated
92%
High-School Grad
10.1 sq mi
ZIP Area
2,058
Density / Sq Mi
$69,727
Median Household Income
$44,745
Median Earnings
$1,160
Median Rent
$194,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Milwaukee, WI
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Frequently Asked Questions
What type of property is this?
Flex space - Open work areas, secure storage, and on-site parking serve a range of commercial needs.
Where is this flex space located?
The property is located at 9903 W Brown Deer Rd Milwaukee, WI.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 2,900‑square‑foot flex property; Open work areas and secured storage; Ceilings approximately 10 feet high
