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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2974 Oakland Ave Milwaukee, WI 53211-3228

    • Drive through restaurants
    • 1,812 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    $320,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-1626094
    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

    • Sal's Pizza East Side / Pizza Restaurant

    Property Details for 2974 Oakland Ave

    Year built
    1940
    Lot size
    0.17 lot acres
    Property size
    1,812 SF
    Zone code
    LB2
    Property type
    Drive through restaurants
    APN
    316-1119-100
    APU
    3161119100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $355,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $286,000
      Market price range: $120k - $383k
      AI Estimate
      $296,000
      Market price range: $172k - $341k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $230,000
      Current use
      COMMERCIAL (GENERAL)
      $255,000
      Change: +12% Conversion: Easy
      AUTO REPAIR, GARAGE
      $215,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.8875
    Latitude
    43.0727
    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
    $9,517
    $108,000
    $291,700
    $399,700
    -
    $108,000
    $291,700
    $399,700

    Comparable in this City

    • Value Estimation
      $720,000
      4,778 SF

      1325 Capitol Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,778 SF
      1325 Capitol Dr, Shorewood, WI 53211-1813
      View Details
    • Value Estimation
      $710,000
      1,553 SF

      4170 Oakland Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,553 SF
      4170 Oakland Ave, Shorewood, WI 53211-2026
      View Details
    • Value Estimation
      $305,000
      3,237 SF

      3121 Oakland Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,237 SF
      3121 Oakland Ave, Milwaukee, WI 53211-3049
      View Details
    • Value Estimation
      $340,000
      1,220 SF

      2831 Oakland Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,220 SF
      2831 Oakland Ave, Milwaukee, WI 53211-3566
      View Details
    • Value Estimation by Request
      6,501 SF

      2907-2911 Oakland Ave

      Restaurants • 6,501 SF
      2907-2911 Oakland Ave, Milwaukee, WI 53211
      View Details
    • Value Estimation
      $230,000
      2,543 SF

      2417 Bartlett Ave

      BAR, TAVERN • 2,543 SF
      2417 Bartlett Ave, Milwaukee, WI 53211-4302
      View Details

    Similar Nearby for Sale

    • $1,350,000
      40,596 SF

      Downer Avenue Parking Unit

      Parking unit with 104 stalls on Milwaukee’s East Side.
      2574-2590 N Downer Ave, Milwaukee, WI 53211
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    • $1,350,000
      4,404 SF

      Stand Alone Retail/Office Building

      Stand alone retail/office building with Oak Leaf trail access.
      4121 N Wilson Dr, Shorewood, WI 53211
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      Milwaukee Retail and Parking Portfolio

      Portfolio sale featuring retail space and parking units.
      2605 E Park Pl, Milwaukee, WI 53211
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    • $550,000
      13,000 SF

      East Side Retail Opportunity

      Second floor vacant space on Milwaukee’s East Side.
      2622-2650 N Downer Ave, Milwaukee, WI 53211
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    • $485,000
      0.13 Acres

      Classic Shorewood Duplex Near Amenities

      Shorewood duplex near schools, shops, restaurants, and parks.
      1633 E Newton Ave, Shorewood, WI 53211
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    • $575,000
      0.11 Acres

      Remodeled Duplex with Airbnb Potential

      Remodeled duplex, currently Airbnb, grossing over $6,500/month.
      2734 N Maryland Ave, Milwaukee, WI 53211
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    Similar Nearby for Lease

    • $16 SF/Yr
      7,400 SF

      Milwaukee Retail Space - Oakland Ave

      7,400 SF Retail Space For Lease
      2850-2862 Oakland Ave, Milwaukee, WI 53211
      View Details
    • $27 SF/Yr
      1,703 SF

      Shorewood Retail Space Available

      Prime Shorewood retail/office, 815-888 sq ft.
      2518-2522 Capitol Dr, Shorewood, WI 53211
      View Details
    • $24 SF/Yr
      51,967 SF

      Shorewood Creative Office Space

      Oakland Ave. Office/Retail, 3 Spaces Available
      3575 Oakland Ave, Shorewood, WI 53211
      View Details
    • Contact for pricing
      30,000 SF

      Historic Milwaukee School Redevelopment Opportunity

      Historic school building available for redevelopment in Milwaukee's upper east side.
      2490 N Cramer St, Milwaukee, WI 53211
      View Details
    • $10 SF/Yr
      4,000 SF

      Oakland Avenue Retail Space Available

      Prime retail space on Oakland Ave near UW Milwaukee.
      3524-3530 N Oakland Ave, Shorewood, WI 53211
      View Details
    • $13 SF/Yr
      1,367 SF

      Office Space Above CVS Pharmacy

      Second-floor office space in a solid trade area.
      2601-2607 N Downer Ave, Milwaukee, WI 53211
      View Details
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    2974 Oakland Ave
    Milwaukee, WI 53211-3228
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    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
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