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

    1030 Vel R Phillips Ave, Unit 1040 Milwaukee, WI 53203-1304

    • Individual retail properties
    • 39,436 SF
    • 0.34 lot acres
    OFF-MARKET
    Value Estimations
    $580,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0556055
    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

    • Individual retail properties

    Property Details for 1030 Vel R Phillips Ave

    Year built
    1882
    Lot size
    0.34 lot acres
    Property size
    39,436 SF
    Zone code
    C9G
    Property type
    Individual retail properties
    APN
    361-0520-000
    APU
    3610520000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      GYM, HEALTH SPA
      $860,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9155
    Latitude
    43.0438
    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
    $18,462
    $150,000
    $625,400
    $775,400
    -
    $150,000
    $625,400
    $775,400

    Comparable in this City

    • Value Estimation
      $11,780,000
      730,000 SF

      1111 Vel R Phillips Ave

      GYM, HEALTH SPA • 730,000 SF
      1111 Vel R Phillips Ave, Milwaukee, WI 53203-1104
      View Details
    • Value Estimation by Request
      2,068 SF

      1133 Martin L King Jr Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,068 SF
      1133 Martin L King Jr Dr, Milwaukee, WI 53203
      View Details
    • Value Estimation by Request
      714,000 SF

      6Th St

      Restaurants • 714,000 SF
      0 6Th St, Milwaukee, WI 53203
      View Details
    • Value Estimation by Request
      6,250 SF

      108 Wells St

      Individual retail properties • 6,250 SF
      108 Wells St, Milwaukee, WI 53203
      View Details
    • Value Estimation by Request
      1,800 SF

      1003 Dr Martin Luther King Jr Dr

      RETAIL STORES (PERSONAL SERVICES) • 1,800 SF
      1003 Dr Martin Luther King Jr Dr, Milwaukee, WI 53203-1301
      View Details
    • Value Estimation
      $790,000
      4,875 SF

      224 228th W Wisconsin Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,875 SF
      224 228th W Wisconsin Ave, Milwaukee, WI 53203
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      573 SF

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      Prime Retail in Entertainment District

      Two-story retail opportunity in Milwaukee's Entertainment District.
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      1.84 Acres

      Westown Development Opportunity

      1.84-Acre Residential Development Site
      522 2Nd St, Milwaukee, WI 53203
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    Similar Nearby for Lease

    • $20 SF/Yr
      2,000 SF

      Retail Space in Entertainment District

      Retail space in Milwaukee's entertainment district, near Deer District.
      823 N 2Nd St, Milwaukee, WI 53203
      View Details
    • Contact for pricing
      714,000 SF

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      Milwaukee prime location, restaurant & land opportunities.
      0 6Th St, Milwaukee, WI 53203
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    • $18 SF/Yr
      6,388 SF

      High Visibility Space on Wisconsin

      Redesigned retail and office space with signage opportunities.
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      View Details
    • $500,000
      6,250 SF

      Riverfront Restaurant Space Available

      Former restaurant space with riverwalk access in Westown area.
      108 W Wells St, Milwaukee, WI 53203
      View Details
    • Contact for pricing
      16,225 SF

      Downtown Milwaukee Retail Space

      Prime Milwaukee retail, multiple units available
      275 Wisconsin Ave, Milwaukee, WI 53203
      View Details
    • Contact for pricing
      18,000 SF

      Journal Commons: Historic Retail Space

      Prime Milwaukee Retail, 5,000-18,000 SF
      333 State St, Milwaukee, WI 53203
      View Details
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    Milwaukee, WI 53203-1304
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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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