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

    116 Sunset Dr Waukesha, WI 53189-2109

    • Strip malls
    • 6,375 SF
    • 0.56 lot acres
    OFF-MARKET
    Last Sale
    Feb 14, 2020
    $350,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-2594830
    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

    • Wisconsin Vision / Optometrist / Contact Lenses Supplier
    • Wingstop / Chicken Wings Restaurant
    • Kurt Haefs / Optometrist
    • Robert Mathaus / Optometrist

    Property Details for 116 Sunset Dr

    Year built
    2021
    Lot size
    0.56 lot acres
    Property size
    6,375 SF
    Zone code
    B-5 (PUD)
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    WAKC1339148
    APU
    WAKC1339148

    Description

    This exceptional 2,381 square foot retail land parcel is available for lease in the desirable Waukesha, Wisconsin market. Situated at 116 E. Sunset Dr, Waukesha, WI 53189, this single-tenant property presents a unique opportunity for businesses seeking a prominent location in Waukesha County. The entire 2,381 square feet is currently vacant, offering complete flexibility for build-out to suit a tenant's specific needs. The property is classified as retail land, ideal for a variety of commercial uses. Its location in Waukesha offers excellent visibility and accessibility, making it an attractive proposition for businesses seeking high foot traffic and convenient access for customers. The property's address is 116 E. Sunset Dr, within Waukesha County, providing a strong foundation for establishing a successful business presence. This is a single-tenant property, ensuring exclusive use and control of the space. Interested parties are encouraged to explore the potential of this prime retail land parcel to establish their business in a thriving Waukesha community. The property is ready for immediate occupancy. Further details regarding lease terms and conditions are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Waukesha
    County
    Waukesha
    State
    Wisconsin
    Longitude
    -88.2256
    Latitude
    42.9888
    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
    $14,779
    $386,300
    $592,900
    $979,200
    -
    $0.00
    $0.00
    $1,013,770

    Comparable in this City

    • Value Estimation
      $1,070,000
      16,800 SF

      203 Sunset Dr

      SHOPPING CENTER, STRIP CENTER • 16,800 SF
      203 Sunset Dr, Waukesha, WI 53189-7603
      View Details
    • Value Estimation
      $960,000
      27,738 SF

      101 Sunset Dr

      SHOPPING CENTER, STRIP CENTER • 27,738 SF
      101 Sunset Dr, Waukesha, WI 53189-7604
      View Details
    • Value Estimation
      $540,000
      4,679 SF

      804 Sunset Dr

      SHOPPING CENTER, STRIP CENTER • 4,679 SF
      804 Sunset Dr, Waukesha, WI 53189-7040
      View Details
    • Value Estimation
      $3,735,000
      118,926 SF

      120 Sunset Dr

      SHOPPING CENTER, STRIP CENTER • 118,926 SF
      120 Sunset Dr, Waukesha, WI 53189-2109
      View Details
    • Value Estimation
      $910,000
      5,334 SF

      431 Sunset Dr

      SHOPPING CENTER, STRIP CENTER • 5,334 SF
      431 Sunset Dr, Waukesha, WI 53189-7467
      View Details
    • Value Estimation
      $1,050,000
      17,422 SF

      442 Sunset Dr

      SHOPPING CENTER, STRIP CENTER • 17,422 SF
      442 Sunset Dr, Waukesha, WI 53189-7407
      View Details

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    Similar Nearby for Lease

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      Waukesha Retail Space Available

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      Retail Space on Sunset Drive

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      Sunset Fields Retail Space Available

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      View Details
    • Contact for pricing
      807 SF

      Waukesha Meijer Retail Space

      Prime In-Store Retail, 807 SF Available
      801 Sunset Dr, Waukesha, WI 53189
      View Details
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    Waukesha, WI 53189-2109
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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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