Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    216 Milwaukee St Waterford, WI 53185

    • Commercial real estate
    • 0.62 lot acres
    For Lease
    View listing
    $11 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-3465588
    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

    • Sarah's Sublimation / Graphic Designer
    • Soles On Air / Sportswear Store
    • The Vape Spot / Vaporizer Store / Collectibles Store
    • Bonnie's Customs & Clothing / Custom T-Shirt Store

    Property Details for 216 Milwaukee St

    Lot size
    0.62 lot acres
    Property type
    Commercial real estate
    APN
    191 041935163000
    APU
    191041935163000

    Description

    This exceptional flex space, located at 216 N Milwaukee St in Waterford, Wisconsin, presents a unique opportunity for businesses seeking a versatile and adaptable workspace. The property boasts a total of 6,250 square feet, with 1,600 square feet currently available for lease. The building is classified as Class C and sits on a 0.51-acre lot, offering ample space and potential for expansion. The zoning is designated as Business District, providing flexibility for a variety of commercial uses. The property features a convenient 18-space parking lot, ensuring ample parking for employees and clients. The building's classification as both retail and industrial allows for a wide range of potential tenants, from light manufacturing and warehousing to retail showrooms and offices. The multiple tenancy structure suggests a vibrant and collaborative environment. The property's address is 216 N Milwaukee St, Waterford, WI 53185. The property's APN is 191041935163000. This is an ideal location for businesses seeking a functional and accessible space in a thriving community. The available 1,600 square feet provides a great opportunity for a smaller business to establish a strong presence or for a larger business to expand its operations. Don't miss this chance to secure a prime location in Waterford, Wisconsin.

    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
    Waterford
    County
    Racine
    State
    Wisconsin
    Longitude
    -88.2097
    Latitude
    42.7652
    CBSA code
    39540
    CBSA name
    RACINE, 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
    $9,014
    $61,000
    $513,000
    $574,000
    -
    $59,806
    $502,960
    $562,766

    Comparable in this City

    • Value Estimation by Request
      0.90 Acres

      600 1st St

      COMMERCIAL (GENERAL) • 0.90 Acres
      600 1st St, Waterford, WI 53185-4243
      View Details
    • Value Estimation by Request
      0.13 Acres

      409 6th St, Unit 2

      COMMERCIAL (GENERAL) • 0.13 Acres
      409 6th St, Waterford, WI 53185-5630
      View Details
    • Value Estimation by Request
      0.62 Acres

      307 Meadowview Ct

      COMMERCIAL (GENERAL) • 0.62 Acres
      307 Meadowview Ct, Waterford, WI 53185-4467
      View Details
    • Value Estimation by Request
      1.05 Acres

      232 Milwaukee St

      COMMERCIAL (GENERAL) • 1.05 Acres
      232 Milwaukee St, Waterford, WI 53185-4312
      View Details
    • Value Estimation by Request
      1.53 Acres

      701 Trailview Ct

      COMMERCIAL (GENERAL) • 1.53 Acres
      701 Trailview Ct, Waterford, WI 53185-3448
      View Details
    • Value Estimation by Request
      19,000 SF

      Confidential

      Commercial real estate • 19,000 SF
      Confidential, Waterford, WI 53185
      View Details

    Similar Nearby for Sale

    • $499,000
      3.79 Acres

      High-Visibility Waterford Commercial Land

      3.79 Acres, Prime Location, B-2 Zoning
      2609-2629 Beck Dr, Waterford, WI 53185
      View Details
    • $319,900
      3,780 SF

      Waterford Commercial Building - Great Potential

      Versatile Commercial Space w/ Apartment Income
      485 Jefferson St, Waterford, WI 53185
      View Details
    • $899,000
      6,000 SF

      Waterford Commercial Building - Prime Location

      Spacious building, flexible layout, seller financing.
      28747 Lake Dr, Waterford, WI 53185
      View Details
    • $250,000
      0.82 Acres

      Waterford Mixed-Use Land Opportunity

      Prime 0.82-acre lot, B-2 zoning.
      4103 Main St, Waterford, WI 53185
      View Details
    • $1,500,000
      19,980 SF

      Milwaukee Street Flex Space Investment

      19,980 SF Flex Space, Waterford, WI
      209 Milwaukee St, Waterford, WI 53185
      View Details
    • $349,900

      Waterfront Lot on Fox River

      Residential lot with water frontage and lake access.
      4460 N River Bay Rd, Waterford, WI 53185
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      4,800 SF

      Medical Clinic in Waterford Village

      Fully built-out medical clinic available for rent in Waterford.
      790 Cornerstone Xing, Waterford, WI 53185
      View Details
    • $14 SF/Yr
      8,760 SF

      Waterford Medical Office Suite D

      1,150 SF Medical Office Space for Lease
      725 Cornerstone Xing, Waterford, WI 53185
      View Details
    • $14 SF/Yr
      6,469 SF

      Waterford Retail Space For Lease

      Prime Waterfront Retail, 6,469 SF
      28747 Lake Dr, Waterford, WI 53185
      View Details
    • $11 SF/Yr
      6,250 SF

      Waterford Flex Space For Lease

      Versatile Flex Space, 1600 sq ft Available
      216 Milwaukee St, Waterford, WI 53185
      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.
    216 Milwaukee St
    Waterford, WI 53185
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.