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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6200 Mill Rd Milwaukee, WI 53218

    • Land
    • 19.90 lot acres
    For Sale
    View listing
    $720,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 6200 Mill Rd

    Lot size
    19.90 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional Class B office building, located at 2420 Springer Drive in Norman, Oklahoma, offers 17,369 square feet of versatile space. Situated on a 0.98-acre lot at the northeast corner of I-35 and Lindsey Street, this property boasts unparalleled accessibility. The building currently features two suites, with a total of 8,567 square feet currently vacant. Flexible floor plans allow for customization, accommodating businesses needing anywhere from 2,551 to a maximum contiguous 6,016 square feet. The building has undergone upgrades and features remodeled spaces, catering to a variety of professional office needs. Its prime location provides convenient access to I-35 and easy navigation throughout Norman. The building's existing tenants include a diverse range of established businesses, reflecting the property's appeal and desirability. This is a rare opportunity to secure high-quality office space in a thriving Norman location with excellent visibility and convenient access to major transportation routes. The property is located in Cleveland County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9886
    Latitude
    43.1344

    Comparable in this City

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      $3,295,000
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      MIXED USE (COMMERCIAL/INDUSTRIAL) • 115,141 SF
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    • Value Estimation by Request
      94,472 SF

      7400 Florist Ave

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      94,472 SF

      7400 Florist Ave

      Distribution properties • 94,472 SF
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    • Value Estimation by Request
      3.77 Acres

      7721 Fond Du Lac Ave

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      7721 Fond Du Lac Ave, Milwaukee, WI 53218-2602
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    • Value Estimation by Request
      7.01 Acres

      8200 Florist Ave

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 7.01 Acres
      8200 Florist Ave, Milwaukee, WI 53218
      View Details
    • Value Estimation
      $790,000
      45,818 SF

      5840 5850th N 60th St, Unit 5850

      INDUSTRIAL (GENERAL) • 45,818 SF
      5840 5850th N 60th St, Milwaukee, WI 53218-2041
      View Details

    Similar Nearby for Sale

    • $720,000
      19.90 Acres

      Prime Norman Office Space Available

      Executive suites, flexible layouts, I-35 access
      6200 Mill Rd, Milwaukee, WI 53218
      View Details
    • Contact for pricing
      6.00 Acres

      Milwaukee Land: 6 Acres, ID-40 Zoning

      Prime Milwaukee development land. Six acres, excellent utilities.
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      14,322 SF

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      Land with easy access to I-41 for development.
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      22,526 SF

      Versatile Commercial Building For Sale

      Single tenant building suitable for medical, office, retail, or flex.
      6246-6312 W Fond Du Lac Ave, Milwaukee, WI 53218
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      54,400 SF

      Milwaukee Warehouse For Sale

      Well-maintained, sprinklered 54,400 square foot warehouse in Milwaukee.
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    • $8,499,000
      186,835 SF

      Manufacturing Facility with Heavy Power

      State-of-the-art manufacturing facility available June 2026.
      6161 N 64Th St, Milwaukee, WI 53218
      View Details

    Similar Nearby for Lease

    • $4 SF/Yr
      17,667 SF

      Milwaukee Industrial Space For Lease

      High-bay warehouse & office space available.
      5840 60Th St, Milwaukee, WI 53218
      View Details
    • $12 SF/Yr
      8,964 SF

      Stand-Alone Buildings with Ample Parking

      Two buildings with highway access, ideal for automotive businesses.
      8347 W Fond Du Lac Ave, Milwaukee, WI 53218
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    • $4 SF/Yr
      51,700 SF

      4837 Woolworth Ave

      Distribution properties • 51,700 SF
      4837 Woolworth Ave, Milwaukee, WI 53218
      View Details
    • Contact for pricing
      216,454 SF

      Milwaukee Industrial Space For Lease

      Large warehouse, 52,085 SF available.
      4801 Woolworth Ave, Milwaukee, WI 53218
      View Details
    • Contact for pricing
      94,472 SF

      Milwaukee Tech Center Warehouse

      Prime Milwaukee warehouse space available.
      7400 Florist Ave, Milwaukee, WI 53218
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    • $5 SF/Yr
      126,335 SF

      Milwaukee Industrial Flex Space

      Modern flex space, multiple units available. Ideal for distribution & warehousing.
      6601-6671 Mill Rd, Milwaukee, WI 53218
      View Details
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    6200 Mill Rd
    Milwaukee, WI 53218
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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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