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

    2450 Velp Ave Green Bay, WI 54303-6593

    • Commercial real estate
    • 6.78 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-1011681
    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

    • Irie Jamaica food / Restaurant
    • Sola Self Storage Supplies / Corporate Office
    • Hodge Podge Resale / Home Decor Store / Department Store
    • Drip Aesthetics / Spa & Massage Center / Skin Care Clinic
    • Sola Salons- Capixyl Studio #24 / Hair Salon

    Property Details for 2450 Velp Ave

    Lot size
    6.78 lot acres
    Property type
    Commercial real estate
    APN
    VH 306
    APU
    VH306

    Description

    This exceptional multi-tenant retail and restaurant property, totaling 20,390 square feet, offers a 1,500-square-foot vacant space ideal for a variety of uses. Located on the west side of Green Bay in the Village of Howard, Wisconsin, this property boasts a highly desirable location with excellent visibility and accessibility. Its strategic position provides easy access to major thoroughfares including Interstate 41, Highway 29, and Interstate 43, ensuring high traffic counts and exposure to a strong demographic. The building itself is beautifully maintained, showcasing a striking brick exterior. The property's proximity to water-filled quarries adds to its unique appeal. Furthermore, its convenient location offers easy access to Green Bay's key attractions, including Green Bay International Airport and Lambeau Field, both within a 10-minute drive. This space is perfect for businesses seeking a well-maintained, high-visibility location in a thriving community within Brown County. The minimum divisible space is 1,500 square feet.

    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
    Green Bay
    County
    Brown
    State
    Wisconsin
    Longitude
    -88.0732
    Latitude
    44.5641
    CBSA code
    24580
    CBSA name
    GREEN BAY, 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
    $15,837
    $331,000
    $716,600
    $1,047,600
    -
    $0.00
    $0.00
    $1,184,800

    Comparable in this City

    • Value Estimation by Request
      100,179 SF

      2250 Mason St

      Retail properties • 100,179 SF
      2250 Mason St, Green Bay, WI 54303
      View Details
    • Value Estimation by Request
      2.52 Acres

      2360 Duck Crk Pkwy

      COMMERCIAL (GENERAL) • 2.52 Acres
      2360 Duck Crk Pkwy, Green Bay, WI 54303-3300
      View Details
    • Value Estimation by Request
      18.69 Acres

      2300 Woodman Dr

      COMMERCIAL (GENERAL) • 18.69 Acres
      2300 Woodman Dr, Green Bay, WI 54303-6207
      View Details
    • Value Estimation by Request
      0.17 Acres

      1752 Badger St

      COMMERCIAL (GENERAL) • 0.17 Acres
      1752 Badger St, Green Bay, WI 54303
      View Details
    • Value Estimation by Request
      0.47 Acres

      2171 Badgerland Dr

      COMMERCIAL (GENERAL) • 0.47 Acres
      2171 Badgerland Dr, Green Bay, WI 54303-4833
      View Details
    • Value Estimation by Request
      0.15 Acres

      609 1st St

      COMMERCIAL (GENERAL) • 0.15 Acres
      609 1st St, Green Bay, WI 54303
      View Details

    Similar Nearby for Sale

    • $299,000
      0.88 Acres

      Green Bay Development Land

      Prime .875-acre lot, OR zoning
      1803 Shawano Ave, Green Bay, WI 54303
      View Details
    • $1,503,000
      605 SF

      New Caribou Coffee Cabin Concept

      New construction Caribou Coffee with drive-up and walk-up format.
      600 S Military Ave, Green Bay, WI 54303
      View Details
    • $225,000
      1,673 SF

      Green Bay Multi-Unit Property

      Two-unit rental property with recent updates and tenant occupancy.
      945 Velp Ave, Green Bay, WI 54303
      View Details
    • $245,000
      1,491 SF

      Green Bay Duplex Opportunity

      Upper/lower duplex in Green Bay, convenient location near downtown.
      825 Dousman St, Green Bay, WI 54303
      View Details
    • $450,000

      High-Visibility Commercial Lot For Sale

      Commercial lot with high visibility and strong traffic flow.
      510 Lambeau St, Green Bay, WI 54303
      View Details
    • $509,900
      Pending

      Green Bay Duplex in Howard

      Spacious duplex in Howard with income potential and modern amenities.
      1774 Cabinet Maker Ct, Green Bay, WI 54303
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      22,962 SF

      Heritage Building Office Space

      Prime Brown County office suites, 275-2800 sq ft.
      1345 Mason St, Green Bay, WI 54303
      View Details
    • $14 SF/Yr
      3,000 SF

      Flex Space with Shop Space

      Flex space featuring showroom, office, bathroom, and shop area.
      1760 Velp Ave, Green Bay, WI 54303
      View Details
    • $12 SF/Yr
      2,682 SF

      Prime Military Ave Office Space

      Modern Suites, High Visibility, Immediate Occupancy
      101 Military Ave, Green Bay, WI 54303
      View Details
    • $7 SF/Yr
      6,039 SF

      Green Bay Office Space Available

      Flexible workspace solutions in Green Bay, WI.
      2149 Velp Ave 1 &, Green Bay, WI 54303
      View Details
    • $15 SF/Yr
      100,179 SF

      Oak Ridge Plaza Retail Space

      Green Bay retail space, 1,600-5,549 sq ft.
      2250 Mason St, Green Bay, WI 54303
      View Details
    • $6 SF/Yr
      7,500 SF

      Industrial Building on Packerland Drive

      Industrial building with brick facade and excellent Interstate access.
      320 Packerland Dr, Green Bay, WI 54303
      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.
    2450 Velp Ave
    Green Bay, WI 54303-6593
    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.