Add Listing
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

    2240 Commerce St, Unit 2 Milwaukee, WI 53212

    • Retail space
    • 88,603 SF
    • 0.32 lot acres
    OFF-MARKET
    Value Estimations
    $2,430,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-2263576
    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

    • Retail space

    Property Details for 2240 Commerce St

    Year built
    2016
    Lot size
    0.32 lot acres
    Property size
    88,603 SF
    Zone code
    PD
    Property type
    Retail space
    APN
    355-2052-000
    APU
    3552052000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,113,000
      Market price range: $3.11M - $9.19M
      AI Estimate
      $3,189,000
      Market price range: $3.19M - $9.41M

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.895
    Latitude
    43.0596
    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
    $29,610
    $274,800
    $968,800
    $1,243,600
    -
    $274,800
    $968,800
    $1,243,600

    Comparable in this City

    • Value Estimation by Request
      3,282 SF

      3265 3267th N Holton St

      RETAIL STORES (PERSONAL SERVICES) • 3,282 SF
      3265 3267th N Holton St, Milwaukee, WI 53212
      View Details
    • Value Estimation
      $1,505,000
      14,663 SF

      3334 Holton St

      RETAIL STORES (PERSONAL SERVICES) • 14,663 SF
      3334 Holton St, Milwaukee, WI 53212-1652
      View Details
    • Value Estimation by Request
      1,029 SF

      2308 2312th N Holton St

      RETAIL STORES (PERSONAL SERVICES) • 1,029 SF
      2308 2312th N Holton St, Milwaukee, WI 53212
      View Details
    • Value Estimation by Request
      4,574 SF

      1716 Commerce St, Unit 5

      RETAIL STORES (PERSONAL SERVICES) • 4,574 SF
      1716 Commerce St, Milwaukee, WI 53212
      View Details
    • Value Estimation
      $855,000
      8,690 SF

      1300 Locust St

      RETAIL STORES (PERSONAL SERVICES) • 8,690 SF
      1300 Locust St, Milwaukee, WI 53212-2644
      View Details
    • Value Estimation
      $710,000
      6,714 SF

      1801 1807th N Martin L King Jr Dr, Unit 9

      RETAIL STORES (PERSONAL SERVICES) • 6,714 SF
      1801 1807th N Martin L King Jr Dr, Milwaukee, WI 53212-3673
      View Details

    Similar Nearby for Sale

    • New
      $359,000
      0.10 Acres

      Riverwest Mixed-Use Income Property

      Mixed-use property in Milwaukee's Riverwest neighborhood with income potential.
      630 E Locust St, Milwaukee, WI 53212
      View Details
    • Contact for pricing

      Halyard Park Commercial Space Available

      Commercial space available in Halyard Park's new mixed-use development.
      3317 N Dr Martin Luther King Jr Dr, Milwaukee, WI 53212
      View Details
    • Contact for pricing
      1,721 SF

      Milwaukee King Drive Office Condos

      Prime Milwaukee location, high cap rate.
      1801 Dr. Martin Luther King Jr. Dr, Milwaukee, WI 53212
      View Details
    • Contact for pricing

      Holton Street Auto Service Building

      1998-built, 7,745 SF building with 9 lifts included.
      3434 N Holton St, Milwaukee, WI 53212
      View Details
    • Contact for pricing
      Pending

      Mixed-Use Property in Milwaukee

      Mixed-use property with commercial and residential units available for sale.
      3474 N 2Nd St, Milwaukee, WI 53212
      View Details
    • $575,000
      2,325 SF

      Riverwest Mixed-Use Building

      Milwaukee Investment Opportunity: $575,000
      2221 Humboldt Ave, Milwaukee, WI 53212
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      17,273 SF

      Park Place Retail Space For Lease

      Milwaukee County Storefront, Multiple Units Available
      801 Capitol Dr, Milwaukee, WI 53212
      View Details
    • Contact for pricing
      6,750 SF

      Milwaukee Retail Space For Rent

      6,750 SF retail space available in Milwaukee, Wisconsin.
      319-321 W North Ave, Milwaukee, WI 53212
      View Details
    • Contact for pricing

      Renovated Retail Space in Shorewood

      Completely renovated retail space in a charming mixed-use building.
      2518-2522 E Capitol Dr, Milwaukee, WI 53212
      View Details
    • Contact for pricing
      2,300 SF

      Prime Retail Space in Milwaukee

      Retail space in downtown Milwaukee's Aloft Hotel for rent.
      1230 North Doctor Martin Luther King Junior Dr, Milwaukee, WI 53212
      View Details
    • Contact for pricing

      Retail/Medical Office Corner Location

      Retail or medical office space in downtown Milwaukee with parking.
      220 East Pleasant St, Milwaukee, WI 53212
      View Details
    • $7 SF/Yr
      14,711 SF

      Milwaukee Retail Space For Lease

      14,711 SF Freestanding Building, 55 Parking Spaces
      2826 Doctor M.l.k. Jr Dr, Milwaukee, WI 53212
      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.
    2240 Commerce St, Unit 2
    Milwaukee, WI 53212
    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.
    Sign Up Successful!
    You now have access to more from Realmo!