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    1280 Brown St Oconomowoc, WI 53066
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    1280 Brown St, Oconomowoc, WI 53066

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    • Commercial real estate
    • 2.83 lot acres
    For Lease
    $980,000
    View Listing →
    Retail Space Available for Lease For Lease
    $980,000

    Retail Space Available for Lease

    Retail property available for lease in Oconomowoc, Wisconsin.

    1280 Brown Street, Oconomowoc, WI 53066
    View Listing
    Property ID
    US92-0722186
    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
    $980,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Subway / Take-out & Catering / Catering Service
    • Pawsitively Grooming / Pet Grooming Service
    • Hair by Sarah McKee / Hair Salon
    • Eric's Hand Tossed Pizza & Subs / Restaurant
    • Grooming By Katrina / Pet Grooming Service

    Property Details for 1280 Brown St

    Lot size
    2.83 lot acres
    Zone code
    B
    Property type
    Commercial real estate
    APN
    OCOC0540999027
    APU
    OCOC0540999027

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 5, 2025 — Jj Johnston Prairie Creek Holdings Jay James Johnston Quitclaim Deed —
    Jul 14, 2022 $758,800 James Johnston Prairie Creek I LLC Special Warranty Deed —
    Nov 25, 2019 — Prairie Creek I LLC — Loan Modification · related $6.5M · Westbury Bk
    Nov 22, 2019 $900,000 Jay James Johnston Declaration Of T Prairie Creek I LLC Special Warranty Deed —
    Nov 22, 2019 $750,000 Maple Hill Real Estate LLC Prairie Creek II LLC Grant Deed —
    Oct 23, 2019 — Prairie Creek I LLC — Loan Modification · related $6.5M · Westbury Bk
    Jan 14, 2015 — Prairie Creek I LLC Stewart M Wangard Quit Claim Deed · related $5.5M · Westbury Bank
    Jan 14, 2015 $4,200,000 Robert Yunker Prairie Creek Shopping Center Quit Claim Deed · related —
    Jul 6, 2005 $727,300 Granite Stone Properties LLC Prairie Creek Shopping Center Warranty Deed $2.5M · Waukesha State Bank

    Description

    This exceptional retail opportunity is located within the Prairie Creek Shoppes in Oconomowoc, Wisconsin. The property, situated at 1280 Brown Street, 53066, offers two available suites within a larger neighborhood/strip center totaling 93,675 square feet. Each suite presents a unique leasing opportunity, with a minimum divisible space of 1,212 square feet and a maximum contiguous space of 1,291 square feet. Currently, there is a total of 2,503 square feet of vacant space available for lease. The property is located in Waukesha County and benefits from its prime location within a thriving community. This is an ideal location for businesses seeking high visibility and convenient access for customers. The property's multiple-tenant configuration provides a diverse and vibrant atmosphere, attracting a wide range of shoppers. The available spaces are perfect for a variety of retail uses, offering a chance to establish a strong presence in a desirable market. Interested parties are encouraged to inquire about lease terms and availability. The property's address is easily accessible and offers ample parking for customers and employees. This is a rare opportunity to secure retail space in a well-established center in a growing Wisconsin community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $955,000
      ML approach
      $1,010,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Oconomowoc
    County
    Waukesha
    State
    Wisconsin
    Longitude
    -88.4623
    Latitude
    43.1264
    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
    $27,268
    $732,700
    $1,680,200
    $2,412,900
    -
    $0.00
    $0.00
    $2,518,000

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      Retail Space Available for Lease

      Retail property available for lease in Oconomowoc, Wisconsin.
      1280 Brown St, Oconomowoc, WI 53066
      View Details
    • Contact for pricing
      2,500 SF

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    Oconomowoc, WI 53066
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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.

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