Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Howell Ave & Drexel Ave Oak Creek, WI 53154
    Property profile & analytics

    Howell Ave & Drexel Ave, Oak Creek, WI 53154

    View on Map
    • Neighborhood centers
    • 33,544 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 0 Howell Ave & Drexel Ave

    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional retail opportunity is located within Drexel Town Square, Oak Creek's vibrant new mixed-use development situated at the corner of Drexel and Howell Avenues. This dynamic community boasts a thriving "Main Street" atmosphere, featuring a new City Hall and library, creating a bustling town square environment. The property offers a single available space totaling 5,052 square feet, ideal for a variety of retail or restaurant concepts. The development is anchored by a significant 192,000 square foot Meijer store, ensuring high foot traffic and visibility. In addition to the retail component, Drexel Town Square includes over 43,000 square feet of existing retail space and a substantial residential component, with 229 luxury units currently occupied and an additional 240 units slated to open this year. This creates a built-in customer base and a strong sense of community. The overall development encompasses 33,544 square feet of retail space, with a minimum divisible unit size of 5,052 square feet. This prime location offers unparalleled access to a large and growing residential population, making it an exceptional investment opportunity for businesses seeking a high-traffic, amenity-rich environment. The property is located in Milwaukee County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Oak Creek
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9117
    Latitude
    42.901

    Comparable in this City

    • Value Estimation by Request
      33,544 SF

      Howell Ave. & Drexel Ave

      Retail properties & Spaces
      0 Howell Ave. & Drexel Ave, Oak Creek, WI 53154
      View Details
    • Value Estimation by Request

      171 Town Sq Way

      Retail properties & Spaces
      171 Town Sq Way, Oak Creek, WI 53154
      View Details
    • Value Estimation by Request

      6420a Howell Ave

      Office Units
      6420a Howell Ave, Oak Creek, WI 53154
      View Details
    • Value Estimation by Request
      10,950 SF

      Swc Of Drexel Ave And Main St

      Retail properties & Spaces
      0 Swc Of Drexel Ave And Main St, Oak Creek, WI 53154
      View Details
    • Value Estimation
      $2,840,000
      14,416 SF

      6719 13th St

      VEHICLE SALES, RENTALS
      6719 13th St, Oak Creek, WI 53154-5249
      View Details
    • Value Estimation by Request
      3.01 Acres

      7909 13Th St

      Land
      7909 13Th St, Oak Creek, WI 53154
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Turnkey Bakery & Cupcake Shop

      Turnkey bakery and cupcake shop with existing leases and equipment.
      330 W Town Square Way, Oak Creek, WI 53154
      View Details
    • $499,500
      13.69 Acres

      Oak Creek Vacant Land

      Almost 14 acres in Oak Creek, Wisconsin, for residential development.
      7300 S Delaine Dr, Oak Creek, WI 53154
      View Details
    • $349,900
      0.16 Acres

      Residential Lot in Lakeshore Commons

      Vacant lot in Oak Creek's premier community with amenities.
      9407 S Lake Vista Pkwy, Oak Creek, WI 53154
      View Details
    • $659,900
      4.02 Acres

      Oak Creek Development Opportunity

      4+ acre vacant land in Oak Creek, Wisconsin for sale.
      170 W Ryan Rd, Oak Creek, WI 53154
      View Details
    • $675,000

      Oak Creek Land Parcel

      1.95 acres of land suitable for various commercial uses.
      124 E Rawson Ave, Oak Creek, WI 53154
      View Details
    • Contact for pricing

      Oak Creek Development Opportunity

      Land available in Oak Creek, near I-94 and Drexel Avenue.
      Creekside Xing - ±3.82 Acres - Nwc Drexel Ave, Oak Creek, WI 53154
      View Details

    Similar Nearby for Lease

    • $40 SF/Yr
      4,890 SF

      Retail Development on Howell Avenue

      New retail development in Oak Creek's desirable retail corridor.
      8355 South Howell Ave, Oak Creek, WI 53154
      View Details
    • Contact for pricing

      Former Grocery Store For Lease

      Former Pick ‘n Save grocery store available for lease.
      2440 W Ryan Rd, Oak Creek, WI 53154
      View Details
    • Contact for pricing
      23,400 SF

      Adaptable Retail, Office, Medical Space

      Customizable space suitable for retail, office, medical, or spa services.
      7126 S Millers Way, Oak Creek, WI 53154
      View Details
    • Contact for pricing
      62,963 SF

      Former Grocery Store Available

      Former grocery store available for rent in Oak Creek, WI.
      2320-2400 W Ryan Rd, Oak Creek, WI 53154
      View Details
    • Contact for pricing

      Commercial Land For Lease

      Commercial land available for lease in Oak Creek, Wisconsin.
      2400 W Ryan Rd, Oak Creek, WI 53154
      View Details
    • Contact for pricing
      5,040 SF

      Oak Creek Retail Space Available

      Retail space in Oak Creek, anchored by Pick N’ Save.
      2400 W Ryan Rd, Oak Creek, WI 53154
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Howell Ave & Drexel Ave
    Oak Creek, WI 53154
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Howell Ave & Drexel Ave, Oak Creek, WI, 53154
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!