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

    10003 Carmen Ave Milwaukee, WI 53225

    • Warehouses
    • 6,131 SF
    • 0.25 lot acres
    For Sale
    View listing
    $275,000
    Value Estimations
    Cap Rate Potential
    8.1%
    Warehouses
    Location Intelligence
    Property ID
    US92-0825955
    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

    • Warehouses

    Property Details for 10003 Carmen Ave

    Year built
    1962
    Lot size
    0.25 lot acres
    Property size
    6,131 SF
    Zone code
    IL1
    Property type
    Warehouses
    APN
    179-9982-321
    APU
    1799982321

    Description

    This exceptional 6,131-square-foot flex/warehouse property, located at 10003 W. Carmen Avenue in Milwaukee, Wisconsin, presents a compelling investment opportunity. Built in 1962, the building sits on a 0.253-acre lot and boasts a desirable IL-1 zoning designation. The property features a spacious layout with a combination of office and warehouse space, including private offices and a conference room. Ceiling heights range from 12 to 14 feet, providing ample vertical space. The property includes eight parking spaces and one drive-in bay. The HVAC system is gas forced air. The building's location offers convenient access to major transportation routes, being just minutes from I-41/45 via Silver Spring Drive, and situated north of Silver Spring Drive and Appleton Avenue. The property is offered at an asking price of $275,000 with a NNN lease type. Power to the building is the responsibility of the buyer/tenant. The assessed property number (APN) is 1799982321. This versatile property is ideal for a variety of businesses seeking a functional and well-located space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $335,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $450,000
      6.5%
      $415,000
      7%
      $385,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $421,000
      Market price range: $261k - $672k
      AI Estimate
      $303,000
      Market price range: $170k - $545k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $460,000
      Current use
      COMMERCIAL (GENERAL)
      $530,000
      Change: +16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -88.0371
    Latitude
    43.122
    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
    2022
    $4,152
    $27,600
    $146,800
    $174,400
    -
    $27,600
    $146,800
    $174,400

    Comparable in this City

    • Value Estimation
      $450,000
      6,063 SF

      9806 Potomac Ave

      WAREHOUSE, STORAGE • 6,063 SF
      9806 Potomac Ave, Milwaukee, WI 53225
      View Details
    • Value Estimation
      $485,000
      6,800 SF

      5344 124th St

      WAREHOUSE, STORAGE • 6,800 SF
      5344 124th St, Milwaukee, WI 53225-2903
      View Details
    • Value Estimation
      $440,000
      9,545 SF

      5956 91st St

      WAREHOUSE, STORAGE • 9,545 SF
      5956 91st St, Milwaukee, WI 53225
      View Details
    • Value Estimation
      $390,000
      10,320 SF

      11920 Carmen Ave

      WAREHOUSE, STORAGE • 10,320 SF
      11920 Carmen Ave, Milwaukee, WI 53225-2114
      View Details
    • Value Estimation
      $470,000
      6,735 SF

      12104 Carmen Ave

      WAREHOUSE, STORAGE • 6,735 SF
      12104 Carmen Ave, Milwaukee, WI 53225-2135
      View Details
    • Value Estimation
      $410,000
      14,442 SF

      11248 Ml Rd

      WAREHOUSE, STORAGE • 14,442 SF
      11248 Ml Rd, Milwaukee, WI 53225-1225
      View Details

    Similar Nearby for Sale

    • $275,000
      6,131 SF

      Milwaukee Flex Space For Sale

      6,131 SF Flex/Warehouse, $275K
      10003 Carmen Ave, Milwaukee, WI 53225
      View Details
    • $1,250,000
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      Portfolio of Industrial Properties

      Portfolio sale featuring two industrial properties totaling 8,964 SF.
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    • $1,250,000
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      Milwaukee Flex Space: Prime Location

      Two Buildings, Abundant Parking, High Visibility
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    • Contact for pricing
      1.14 Acres

      Milwaukee Industrial Land - 1.14 Acres

      Prime Milwaukee industrial land, excellent development potential.
      7650 115Th St, Milwaukee, WI 53225
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    • $800,000
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      Milwaukee Commercial Land - 1.97 Acres

      Prime Development Site: Office, Medical, or Light Industrial
      5360 118Th Ct, Milwaukee, WI 53225
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    • $225,000
      2,228 SF

      Milwaukee Duplex with Updated Features

      Spacious duplex with newer roof, separate utilities, and parking.
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    Similar Nearby for Lease

    • $15 SF/Yr
      2,000 SF

      Retail Space on Silver Spring

      Retail space available for lease with high traffic volume.
      10426-10448 W Silver Spring Dr, Milwaukee, WI 53225
      View Details
    • $20 SF/Yr
      1,356 SF

      Retail Space with Great Visibility

      Retail space at a light-controlled intersection with great visibility.
      10400 W Silver Spring Dr, Milwaukee, WI 53225
      View Details
    • $15 SF/Yr
      28,302 SF

      Timmerman Plaza: Retail Space Available

      Milwaukee Retail/Office Opportunity: Multiple Suites, Ample Parking.
      10448 Silver Spring Dr, Milwaukee, WI 53225
      View Details
    • $7 SF/Yr
      13,906 SF

      Milwaukee Retail Space For Lease

      Large Single-Tenant Retail Building in Milwaukee
      5201 91St St, Milwaukee, WI 53225
      View Details
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    Milwaukee, WI 53225
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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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