Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    285 Forest Grove Dr Pewaukee, WI 53072

    • Commercial real estate
    • 1.33 lot acres
    For Lease
    View listing
    $17 SF/Yr
    Last Sale
    Dec 20, 2022
    $2,307,199
    Value Estimations
    $2,665,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0086993
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Healthy Smiles Dental Care, SC : AJ Hamedi, DDS / Dentist / Cosmetic Dentist
    • Aura Salon / Nail Salon / Beauty Salon
    • Thrivent Financial-Lutherans / Insurance Agency
    • SBS Accounting & Tax / Tax Preparation Service / Business To Business Service
    • Mary Yellick / General Practitioner / Nurse Practitioner

    Property Details for 285 Forest Grove Dr

    Lot size
    1.33 lot acres
    Zone code
    B
    Property type
    Commercial real estate
    APN
    PWV 0903101004
    APU
    PWV0903101004

    Description

    This exceptional two-story executive office building, the Forest Grove Business Center, located at 285 Forest Grove Drive in Pewaukee, Wisconsin, 53072, offers a prime opportunity for businesses seeking flexible and modern workspace. The building boasts a total of 19,912 square feet, with multiple tenancy options available. Currently, there are 3,650 square feet of vacant space, divisible into units ranging from a minimum of 440 square feet to a maximum contiguous space of 1,810 square feet, catering to a variety of business needs and sizes. The building is situated in Waukesha County and provides ample parking with approximately 82 stalls, offering a generous 4 spaces per 1,000 square feet of building area. This location provides easy access to local amenities and transportation networks, making it an ideal choice for businesses seeking a convenient and productive work environment. The property is classified as an Executive Office building, ensuring a professional and sophisticated atmosphere. Interested parties are encouraged to inquire about the available spaces and lease terms. This is a rare opportunity to secure high-quality office space in a desirable location. Don't miss out on this chance to establish your business in this thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,900,000
      ML approach
      $3,145,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Pewaukee
    County
    Waukesha
    State
    Wisconsin
    Longitude
    -88.2401
    Latitude
    43.0814
    CBSA code
    33340
    CBSA name
    MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $30,312
    $412,000
    $1,834,000
    $2,246,000
    -
    $0.00
    $0.00
    $2,714,900

    Comparable in this City

    • Value Estimation by Request
      0.55 Acres

      Pewaukee, WI 53072

      COMMERCIAL (GENERAL) • 0.55 Acres
      Pewaukee, WI 53072
      View Details
    • Value Estimation by Request
      13.61 Acres

      Pewaukee, WI 53072

      COMMERCIAL (GENERAL) • 13.61 Acres
      Pewaukee, WI 53072
      View Details
    • Value Estimation by Request
      6.72 Acres

      232nd Quarry Cors Pkwy

      COMMERCIAL (GENERAL) • 6.72 Acres
      232nd Quarry Cors Pkwy, Pewaukee, WI 53072-2605
      View Details
    • Value Estimation by Request
      16.51 Acres

      Pewaukee, WI 53072

      COMMERCIAL (GENERAL) • 16.51 Acres
      Pewaukee, WI 53072
      View Details
    • Value Estimation by Request
      0.08 Acres

      Pewaukee, WI 53072

      COMMERCIAL (GENERAL) • 0.08 Acres
      Pewaukee, WI 53072
      View Details
    • Value Estimation by Request

      1343 Wisconsin Ave Ste, Unit 115

      COMMERCIAL (GENERAL)
      1343 Wisconsin Ave Ste, Pewaukee, WI 53072-3741
      View Details

    Similar Nearby for Sale

    • $375,000
      2.23 Acres

      Prime Pewaukee Commercial Land

      2.23 Acres, Mixed-Use Potential
      0 Cor Of Hwy F & Ct, Pewaukee, WI 53072
      View Details
    • $2,500,000
      11.00 Acres

      Prime Car Condo Development Opportunity

      11-Acre Waukesha County Car Storage Complex
      N47W28229 Lynndale Rd, Pewaukee, WI 53072
      View Details
    • $1,200,000
      6.49 Acres

      Pewaukee Rd Commercial Land - $1.2M

      6.5-acre commercial lot, high visibility corner.
      W240N2687 Pewaukee Rd, Pewaukee, WI 53072
      View Details
    • $238,000
      1,074 SF

      Pewaukee Condo Near Downtown

      Condo in Pewaukee, walking distance to beach, shops, and restaurants.
      368 Park Hill Dr, Pewaukee, WI 53072
      View Details
    • Contact for pricing
      10 SF

      Retail Space Near Grocery Store

      Retail property in front of Good Harvest grocery store.
      2177 Silvernail Rd, Pewaukee, WI 53072
      View Details
    • $12,450,000
      214,745 SF

      Pewaukee Industrial Property for Sale

      Industrial property with dock doors, drive-in doors, and outside storage.
      1045 Hickory St, Pewaukee, WI 53072
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      55,300 SF

      RidgeView Business Center II: Premier Space

      55,300 SF Multi-Use Building, Waukesha County
      N22 Ridgeview Pkwy, Pewaukee, WI 53072
      View Details
    • $21 SF/Yr
      59,500 SF

      Stoneridge III Executive Suites

      Modern Waukesha office space for lease.
      N14 Stone Ridge Dr, Waukesha, WI 53072
      View Details
    • Contact for pricing

      Pewaukee Office Space For Rent

      Office space near Capitol Drive and Hwy 16 interchange.
      285 Forest Grove Dr, Pewaukee, WI 53072
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available in Pewaukee, WI, near Hwy 16.
      615 East Ryan St, Pewaukee, WI 53072
      View Details
    • $15 SF/Yr
      89,457 SF

      Riverwood Corporate Center Office Space

      Executive Suites, Waukesha, WI
      N19 Riverwood Dr, Waukesha, WI 53072
      View Details
    • $10 SF/Yr
      2,657 SF

      Pewaukee Flex Space Available

      Flex space with natural light available for lease in Pewaukee.
      1343 E Wisconsin Ave, Pewaukee, WI 53072
      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.
    285 Forest Grove Dr
    Pewaukee, WI 53072
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.