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

    2222 W Michigan St Milwaukee, WI 53233

    • Parking lots & garages
    • 0.17 lot acres
    For Sale
    View listing
    $50,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0650172
    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

    • Parking lots & garages

    Property Details for 2222 W Michigan St

    Lot size
    0.17 lot acres
    Zone code
    RO2
    Property type
    Parking lots & garages
    APN
    400-0508-100
    APU
    4000508100

    Description

    This exceptional investment opportunity presents a 15-20 spot parking lot ideally situated in a highly desirable area of Milwaukee, Wisconsin. Located just west of the downtown core, this 0.17-acre property benefits from its proximity to several key landmarks and vibrant neighborhoods. The lot is within easy walking distance of Marquette University, a major institution attracting students and staff, and is also conveniently close to the Ambassador Hotel and the Eagle's Ballroom, ensuring consistent demand from event attendees and hotel guests. The surrounding area boasts numerous residential buildings, providing a substantial resident population requiring parking solutions. The property's location offers excellent accessibility and visibility, making it an attractive option for commuters and visitors alike. This presents a strong potential for consistent rental income and future appreciation, making it an ideal addition to any investment portfolio. The asking price of $50,000 represents a compelling entry point into the Milwaukee commercial real estate market. The property's size and location make it suitable for various uses, including continued operation as a parking lot or potential redevelopment subject to city ordinances and approvals. This is a rare opportunity to acquire a well-positioned, income-generating asset in a thriving urban environment. Serious inquiries are encouraged.

    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
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9414
    Latitude
    43.0378
    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
    $0.00
    $35,000
    $3,200
    $38,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.26 Acres

      1800 1806th W St Paul Ave, Unit 1806

      PARKING LOT • 0.26 Acres
      1800 1806th W St Paul Ave, Milwaukee, WI 53233-2657
      View Details
    • Value Estimation by Request
      0.02 Acres

      623 20th St

      PARKING LOT • 0.02 Acres
      623 20th St, Milwaukee, WI 53233-1901
      View Details
    • Value Estimation by Request
      1,709,128 SF

      320 19th St

      PARKING GARAGE, PARKING STRUCTURE • 1,709,128 SF
      320 19th St, Milwaukee, WI 53233
      View Details
    • Value Estimation by Request
      577,947 SF

      841 James Lovell St

      PARKING GARAGE, PARKING STRUCTURE • 577,947 SF
      841 James Lovell St, Milwaukee, WI 53233-1402
      View Details
    • Value Estimation
      $1,070,000
      5,625 SF

      545 James Lovell St

      PARKING LOT • 5,625 SF
      545 James Lovell St, Milwaukee, WI 53233
      View Details
    • Value Estimation
      $1,190,000
      282,056 SF

      902 Juneau Ave, Unit 910

      PARKING GARAGE, PARKING STRUCTURE • 282,056 SF
      902 Juneau Ave, Milwaukee, WI 53233-1428
      View Details

    Similar Nearby for Sale

    • $50,000

      Downtown Parking Lot For Sale

      15-20 spot parking lot near Marquette University and Ambassador Hotel.
      2222 W Michigan St, Milwaukee, WI 53233
      View Details
    • $2,662,500
      23,910 SF

      Retail Property on South 13th

      Retail property for sale with 23,910 square feet.
      3045 S 13Th St, Milwaukee, WI 53233
      View Details
    • $375,000
      9,000 SF

      Milwaukee Church - Prime Location

      9,000 SF Church, $375K, High Visibility
      1102 21St St, Milwaukee, WI 53233
      View Details
    • $2,600,000
      16,477 SF

      Riverfront Warehouse with Expansion Potential

      Warehouse with river frontage, high ceilings, and expansion possibilities.
      2215 W Mount Vernon Ave, Milwaukee, WI 53233
      View Details
    • $2,600,000
      16,477 SF

      Menomonee Valley Sports Facility

      Prime Milwaukee location, 16,477 SF, high visibility.
      2215 Mount Vernon Ave, Milwaukee, WI 53233
      View Details
    • $475,000
      2,661 SF

      Milwaukee Office Building For Sale

      Office building for sale with easy access to major highways.
      738-740 N James Lovell St, Milwaukee, WI 53233
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      80,488 SF

      Restaurant Space Near Marquette University

      Second-generation restaurant space for lease near Marquette University.
      1400 W Wells St, Milwaukee, WI 53233
      View Details
    • Contact for pricing
      6,258 SF

      Marquette University Retail Space

      Prime Campus Retail, Multiple Units Available
      811 16Th St, Milwaukee, WI 53233
      View Details
    • Contact for pricing
      4,500 SF

      Spacious Retail Space Near MU

      Large, flexible retail space adjacent to Marquette University parking.
      803-819 N 16Th St, Milwaukee, WI 53233
      View Details
    • $10 SF/Yr
      7,128 SF

      Menomonee Valley Flex Space Available

      Centrally located flex space with freeway access and on-site parking.
      272-274 N 12Th St, Milwaukee, WI 53233
      View Details
    • $17 SF/Yr
      41,042 SF

      Milwaukee Office Space for Lease

      Prime Milwaukee Office, 13,672 SF Available
      1036 Juneau Ave, Milwaukee, WI 53233
      View Details
    • $20 SF/Yr
      59,000 SF

      Executive Office Space, Milwaukee

      Modern Office Suite, 16,000 SF Available
      2601 Wisconsin Ave, Milwaukee, WI 53233
      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.
    2222 W Michigan St
    Milwaukee, WI 53233
    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.