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    Property profile & analytics

    2566 Mayfair Rd Wauwatosa, WI 53226

    • Office Properties & Spaces
    • 24,175 SF
    For Lease
    View listing
    $10 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 2566 Mayfair Rd

    Property size
    24,175 SF
    Property type
    Office Properties & Spaces
    Property subtype
    Medical offices

    Description

    The Market Probe Building, a 24,175 square foot office property in Wauwatosa, Wisconsin, offers exceptional flexibility and a highly desirable location. This multi-tenant building features executive, medical, and traditional office spaces, with units ranging from 4,000 to 24,175 contiguous square feet. Situated on a 1.22-acre lot at 2566 N Mayfair Rd, 53226, the building boasts 120 parking spaces, including covered options, and convenient access to I-41 and I-94. Its prime location directly across from Mayfair Mall benefits from an average daily traffic count of 30,000 vehicles on Mayfair Road. The owner is motivated and offering flexible lease terms, including the possibility of one year of free rent. This presents a unique opportunity for businesses seeking a well-situated, adaptable workspace in a thriving Milwaukee County submarket. The building includes elevators for convenient access to all floors.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Wauwatosa
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -88.0487
    Latitude
    43.0666

    Comparable in this City

    • Value Estimation by Request
      5,500 SF

      11550 North Ave

      Medical offices • 5,500 SF
      11550 North Ave, Wauwatosa, WI 53226
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    • Value Estimation
      $475,000
      6,970 SF

      9302 Bluemound Rd

      MEDICAL BUILDING • 6,970 SF
      9302 Bluemound Rd, Milwaukee, WI 53226-4449
      View Details
    • Value Estimation by Request
      25,926 SF

      1425 Discovery Pkwy

      Office Properties & Spaces • 25,926 SF
      1425 Discovery Pkwy, Wauwatosa, WI 53226
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    • Value Estimation by Request
      10,236 SF

      9210 North Ave

      Office Properties & Spaces • 10,236 SF
      9210 North Ave, Wauwatosa, WI 53226
      View Details
    • Value Estimation by Request
      15,956 SF

      2265-2275 Mayfair Rd

      Neighborhood centers • 15,956 SF
      2265-2275 Mayfair Rd, Wauwatosa, WI 53226
      View Details
    • Value Estimation by Request
      91,009 SF

      1425 Discovery Pkwy

      Office Properties & Spaces • 91,009 SF
      1425 Discovery Pkwy, Wauwatosa, WI 53226
      View Details

    Similar Nearby for Sale

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    • $13,500,000
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    Similar Nearby for Lease

    • $10 SF/Yr
      24,175 SF

      Market Probe Building Office Space

      Wauwatosa Office Building: Flexible Terms, Prime Location
      2566 Mayfair Rd, Wauwatosa, WI 53226
      View Details
    • $16 SF/Yr
      16,503 SF

      Mayfair Road Medical Office Space

      Wauwatosa medical suites available now
      2645 Mayfair Rd, Wauwatosa, WI 53226
      View Details
    • Contact for pricing
      9,958 SF

      Mayfair Medical Commons Healthcare Facility

      Two-story, 45,823 SF outpatient healthcare facility for rent.
      800 N Mayfair Rd, Wauwatosa, WI 53226
      View Details
    • $12 SF/Yr
      6,980 SF

      Wauwatosa Office Space Available

      Office space for rent with modern renovations and ample parking.
      1233 N Mayfair Rd, Wauwatosa, WI 53226
      View Details
    • $13 SF/Yr
      14,045 SF

      Wauwatosa Office Sublease Opportunity

      Prime Mayfair Road Office Space Available
      1033 Mayfair Rd, Wauwatosa, WI 53226
      View Details
    • $17 SF/Yr
      41,788 SF

      Mayfair Road Executive Suites

      Wauwatosa Office Space for Lease
      1011 Mayfair Rd, Wauwatosa, WI 53226
      View Details
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    2566 Mayfair Rd
    Wauwatosa, WI 53226
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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.

    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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