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N72W12922 Good Hope Rd, Menomonee Falls, WI 53051
Office buildings
Property Size9,240 SF
Price / SF$186.69
Days on Market244
Property Features for N72W12922 Good Hope Rd
General Information
Standard status
Active
Size
9,240 SF
Property subtype
Office
Zoning
C-6 Office; Flexible Zoning; Multiple Permitted Uses
Investment Type
Owner/User
Listing Agency:
JLL - Milwaukee, Wisconsin
(262) 239-0970
Listed By:
Tim Nelson · License #50565-90
Source:
Crexi
Added: Dec 12, 2025
Changed: Aug 8
Last Checked: Aug 12 at 2:15PM
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 JLL - Milwaukee, Wisconsin
Investment Insights
Based on property information with market context.
Key Highlights
- Premium owner‑occupant or redevelopment opportunity.
- Extra land provides for expansion potential.
- Strategically located on Good Hope Road in Menomonee Falls' improving commercial corridor.
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
$128,280
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
7.44%
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%
$2,565,600
$2.6M
Cap Rate 7%
$1,832,571
$1.8M
Cap Rate 9%
$1,425,333
$1.4M
Market Conditions
NOI Build-Up for 9,240 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
$229.5K $24.84/SF
− Vacancy
−$58.5K −$6.33/SF
EGI
$171.0K $18.51/SF
− OpEx
−$42.8K −$4.63/SF
NOI
$128.3K $13.88/SF
Area
Waukesha County, WI
Vacancy
25.48%
Lease Rate
$24.84 /SF/Yr
Expense Ratio
25.00%
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%
$2,565,600
Cap Rate 7%
$1,832,571
Cap Rate 9%
$1,425,333
Alternative Uses
Best Use
Office B
$1.83M
$1.60M – $2.14M
NOI $128,280 @ 7.0% cap · market cap 7.44%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$4.72M
$4.13M – $5.50M
NOI $330,108 @ 7.0% cap · market cap 19.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
272
Businesses Nearby
Explore this area
Business Placement
Demographics for 53051, WI
38,562
Population
16,972
Households
2.3
Avg Household Size
44
Median Age
49%
College-Educated
96%
High-School Grad
33.3 sq mi
ZIP Area
1,158
Density / Sq Mi
$98,423
Median Household Income
$60,331
Median Earnings
$1,257
Median Rent
$341,700
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
Where is this office building located?
The property is located at N72W12922 Good Hope Rd Menomonee Falls, WI.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: Premium owner‑occupant or redevelopment opportunity.; Extra land provides for expansion potential.; Strategically located on Good Hope Road in Menomonee Falls' improving commercial corridor.
