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    N1015 County Road Z - Palmyra, WI 53156

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    Claim this Listing
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    For Sale
    $749,900

    Vacant Land - Palmyra, WI

    Lot size:
    78.92 Acres
    Added:
    Apr 22, 2026
    Days on Market:
    4
    Last Refresh:
    Apr 25 at 9:06 pm

    Property Features for N1015 County Road Z -

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    A1
    Standard status
    Active
    APN
    02405162441000
    Lot size
    78.92 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    2943.29

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Brian R. Paul
    Brian R. Paul

    Listing agent Brian R. Paul License #56081-90

    Listing office RE/MAX Lakeside-Central 10303 W Oklahoma Ave, Milwaukee, WI 53221-1974, Milwaukee, WI

    Listing date Apr 22, 2026

    MLS# 1959501 Listing URL

    Copyright © 2026 Metro MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Palmyra Vacant Land with Acreage

    This 78.92-acre property offers privacy and natural beauty. It presents opportunities for a private estate or investment. There is potential for two additional 1-acre outlots on the west side of County Road Z, and a third potential site of approximately 6-9 acres on the east side of the road. The south lot line borders state land. The land features mature trees and abundant wildlife, making it suitable for hunting. It has a history of tillable acreage with desirable soils. A 30x25 garage with a metal roof provides storage. The property is located near Kettle Moraine State Park, which offers trails for hiking, biking, and year-round activities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Kitchen & Bath Showroom Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Palmyra
    County
    Jefferson
    State
    Wisconsin
    Longitude
    -88.544551
    Latitude
    42.877334

    Nearby Similar for Sale

    • $974,900
      6,600 SF

      Palmyra Multifamily Investment Opportunity

      8-unit multifamily property near downtown Palmyra with 15-car parking.
      717 Maple St, Palmyra, WI 53156
      View Details
    • $974,900

      Palmyra Multifamily Investment Opportunity

      Eight-unit multifamily property in Palmyra, WI, with 15-car parking.
      717 Maple St, Palmyra, WI 53156
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 78.92 acres of land with development potential near Kettle Moraine.
    Where is this agricultural land / farmland located?
    The property is located at N1015 County Road Z - Palmyra, WI.
    What is the asking price?
    The asking price for this property is $749,900.
    What are key features of this property?
    This property features: 78.92‑acre property bordering state land; Potential for multiple additional building sites, including two 1‑acre outlots; 30x25 garage with metal roof
    (414) 350-5525
    We can help!
    Listing Contact
    Brian R. Paul
    Brian R. Paul
    Real Estate License ID: 56081-90
    Learn More
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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
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