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    1204 1208th W Layton Ave Milwaukee, WI 53221

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    1204 1208th W Layton Ave Milwaukee, WI 53221

    View on Map
    • Retail space
    • 10,120 SF
    • 0.78 lot acres
    Off-Market
    Property ID
    US92-0476731
    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.
    Value Estimations
    $900,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Playtime Doggy Daycare II / Kennel & Boarding Facility

    Property Details for 1204 1208th W Layton Ave

    Year built
    1982
    Lot size
    0.78 lot acres
    Property size
    10,120 SF
    Zone code
    IO1
    Property type
    Retail space
    APN
    596-9941-100
    APU
    5969941100

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $987,000
      Market price range: $494k - $1.87M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,090,000
      Current use
      RESTAURANT
      $1,285,000
      Change: +18% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,205,000
      Change: +11% Conversion: Difficult
      MEDICAL BUILDING
      $1,040,000
      Change: -4% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $940,000
      Change: -14% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9278
    Latitude
    42.9598
    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
    $13,655
    $202,700
    $370,800
    $573,500
    -
    $202,700
    $370,800
    $573,500

    Comparable in this City

    • Value Estimation
      $760,000
      7,782 SF

      5460 27th St

      RETAIL STORES (PERSONAL SERVICES) • 7,782 SF
      5460 27th St, Milwaukee, WI 53221-3726
      View Details
    • Value Estimation
      $600,000
      5,000 SF

      1317 Edgerton Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,000 SF
      1317 Edgerton Ave, Milwaukee, WI 53221
      View Details
    • Value Estimation
      $560,000
      4,306 SF

      3500 27th St

      RETAIL STORES (PERSONAL SERVICES) • 4,306 SF
      3500 27th St, Milwaukee, WI 53221-1302
      View Details
    • Value Estimation
      $835,000
      8,040 SF

      4278 27th St

      RETAIL STORES (PERSONAL SERVICES) • 8,040 SF
      4278 27th St, Milwaukee, WI 53221-1832
      View Details
    • Value Estimation by Request
      5,183 SF

      4111 6th St

      RETAIL STORES (PERSONAL SERVICES) • 5,183 SF
      4111 6th St, Milwaukee, WI 53221-1705
      View Details
    • Value Estimation
      $685,000
      17,398 SF

      4264 27th St

      RETAIL STORES (PERSONAL SERVICES) • 17,398 SF
      4264 27th St, Milwaukee, WI 53221-1832
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Former Grocery Store Available

      113,747 SF building, formerly a Festival Foods store.
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      113,747 SF

      Former Grocery Store Available

      Former Festival Foods location for lease or sale.
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      Greenfield Shopping Center For Sale

      63,340 SF neighborhood shopping center in Greenfield, Wisconsin.
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    • $325,000
      0.11 Acres

      Milwaukee Brick Duplex with Garage

      Well-maintained brick duplex with a two-car garage and fenced yard.
      3521 S 11Th St, Milwaukee, WI 53221
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      32.131 Acres Land Available

      32.131 acres of land for sale.
      813 W College Ave, Milwaukee, WI 53221
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    • Contact for pricing

      Land For Sale

      Land available for sale.
      W Loomis Rd, Milwaukee, WI 53221
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    Similar Nearby for Lease

    • Contact for pricing
      2,500 SF

      Retail Space with Drive-Thru Potential

      Up to 2,500 SF retail space with drive-thru.
      3543 S 27Th St, Milwaukee, WI 53221
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space on High-Traffic Corner

      Retail space with high visibility at a signalized intersection.
      4715 S 27Th St, Greenfield, WI 53221
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      3,600 SF

      Retail Space in High-Traffic Area

      Retail space available in established commercial corridor with high visibility.
      3545-3557 S 27Th St, Milwaukee, WI 53221
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    • Contact for pricing
      4,629 SF

      Retail Space in Established Corridor

      Retail spaces available in a high-traffic Milwaukee power center.
      3555 South 27Th St, Milwaukee, WI 53221
      View Details
    • Contact for pricing
      113,747 SF

      Greenfield Big Box Retail Space

      High-traffic location, 113,747 SF.
      4777 27Th St, Greenfield, WI 53221
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    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Milwaukee, Wisconsin.
      4715 S 27Th St, Milwaukee, WI 53221
      View Details
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    Milwaukee, WI 53221
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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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