Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1509 Smt Ave Waukesha, WI 53188-3224
    Back to Search
    Property profile & analytics

    1509 Smt Ave, Waukesha, WI 53188-3224

    View on Map
    • Retail properties & Spaces
    • 1,755 SF
    • 0.35 lot acres
    Off-Market
    Property ID
    US92-0382004
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • ATWATER AGENCY INC / Insurance Agency

    Property Details for 1509 Smt Ave

    Year built
    1930
    Construction
    FRAME
    Lot size
    0.35 lot acres
    Zone code
    B-3
    Property type
    Retail properties & Spaces
    APN
    WAKC0996981
    APU
    WAKC0996981

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 2, 2016 $102,000 Duane E Atwater Securant Bk & Trust Grant Deed —
    Aug 5, 2014 $92,186 Securant Bk & Trust Deputy Sheriff Of Waukesha County Trustees Deed · related —
    Jun 1, 2011 — Todd A Brunner Outer Limits Investments LLC Quit Claim Deed · related —
    May 13, 2011 — Todd A Brunner Investment Specialists Of Pewauke Quit Claim Deed · related —
    Oct 13, 2010 — Outerlimits Investments LLC Brunner,todd A Quit Claim Deed · related —
    Sep 22, 2008 $90,000 Todd A Brunner Sheriff Of Waukesha County Trustees Deed · related $85k · Mwa Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Waukesha
    County
    Waukesha
    State
    Wisconsin
    Longitude
    -88.2533
    Latitude
    43.0215
    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
    $2,344
    $93,400
    $62,200
    $155,600
    -
    $0.00
    $0.00
    $161,093

    Comparable in this City

    • Value Estimation
      $605,000
      5,072 SF

      1936 Macarthur Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      1936 Macarthur Rd, Waukesha, WI 53188-5722
      View Details
    • Value Estimation by Request
      3,750 SF

      801 Northview Rd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      801 Northview Rd, Waukesha, WI 53188-1618
      View Details
    • Value Estimation by Request
      3,000 SF

      901 Grandview Blvd

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      901 Grandview Blvd, Waukesha, WI 53188-2845
      View Details
    • Value Estimation by Request
      5,405 SF

      212 Saint Paul Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      212 Saint Paul Ave, Waukesha, WI 53188-5105
      View Details
    • Value Estimation by Request
      4,690 SF

      1800 Saint Paul Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      1800 Saint Paul Ave, Waukesha, WI 53188-5712
      View Details
    • Value Estimation by Request
      2,800 SF

      500 En St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      500 En St, Waukesha, WI 53188-3723
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,559 SF

      Waukesha Mixed-Use Property For Sale

      Mixed-use property in Waukesha, WI, totaling 7,559 square feet.
      613 N Morgan Ave, Waukesha, WI 53188
      View Details
    • Contact for pricing
      10,087 SF

      Waukesha Retail Learning Experience Property

      Corporate learning experience property for sale in Waukesha, Wisconsin.
      2031 Meadow Ln, Waukesha, WI 53188
      View Details
    • Contact for pricing
      25,070 SF

      Waukesha Retail Complex For Sale

      25,070 SF retail complex in Waukesha County market.
      2140 W St Paul Ave, Waukesha, WI 53188
      View Details
    • $169,900
      0.33 Acres

      Residential Land in Waukesha, WI

      Vacant land in a developing Waukesha neighborhood.
      Lt40 Vis Ave, Waukesha, WI 53188
      View Details
    • $174,900
      0.29 Acres

      Residential Land in Waukesha, WI

      Vacant land in Waukesha's Skyline neighborhood, perfect for families.
      Lt32 White Oak Way, Waukesha, WI 53188
      View Details
    • $164,900
      0.31 Acres

      Residential Land in Waukesha, WI

      Vacant land in a developing Waukesha neighborhood.
      Lt11 Viewpoint Ave, Waukesha, WI 53188
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,603 SF

      Retail Space Near Sendik's Market

      Retail space available adjacent to Sendik’s Food Market.
      701 Meadowbrook Rd, Waukesha, WI 53188
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available for lease in Waukesha, Wisconsin.
      821 W Moreland Blvd, Waukesha, WI 53188
      View Details
    • Contact for pricing

      Retail Space on 14 Acres

      Single tenant retail space available for rent on 14 acres.
      N22 Ridgeview Pkwy West, Pewaukee, WI 53188
      View Details
    • Contact for pricing
      5,961 SF

      Pewaukee Stand-Alone Building For Lease

      Stand-alone building suitable for medical, retail, or bank use.
      1611 Silvernail Rd, Pewaukee, WI 53188
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available for rent at 2450 N Grandview Blvd.
      2450 N Grandview Blvd, Waukesha, WI 53188
      View Details
    • Contact for pricing

      Retail Space in Waukesha

      Retail space anchored by Sendik's in Waukesha, Wisconsin.
      601 Meadowbrook Rd, Waukesha, WI 53188
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1509 Smt Ave
    Waukesha, WI 53188-3224
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1509 Smt Ave, Waukesha, WI, 53188
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!