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

    3021 Ruby Ave Milwaukee, WI 53209

    • Retail space
    • 71,344 SF
    • 5.64 lot acres
    OFF-MARKET
    Value Estimations
    $2,105,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0736491
    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

    • RUBY GARAGE / Corporate Office

    Property Details for 3021 Ruby Ave

    Year built
    1970
    Lot size
    5.64 lot acres
    Property size
    71,344 SF
    Zone code
    IH
    Property type
    Retail space
    APN
    230-9992-200
    APU
    2309992200

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,781,000
      Market price range: $2.78M - $4.99M
      AI Estimate
      $2,826,000
      Market price range: $2.83M - $9.82M

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9523
    Latitude
    43.0985
    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
    $107,000
    $896,000
    $1,003,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,948 SF

      5035 5037th N 39th St

      RETAIL STORES (PERSONAL SERVICES) • 1,948 SF
      5035 5037th N 39th St, Milwaukee, WI 53209
      View Details
    • Value Estimation by Request
      2,190 SF

      6200 39th St

      RETAIL STORES (PERSONAL SERVICES) • 2,190 SF
      6200 39th St, Milwaukee, WI 53209-3512
      View Details
    • Value Estimation by Request
      1,790 SF

      4141 Grn Bay Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,790 SF
      4141 Grn Bay Ave, Milwaukee, WI 53209-7019
      View Details
    • Value Estimation by Request
      5,491 SF

      3226 3228th W Cameron Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,491 SF
      3226 3228th W Cameron Ave, Milwaukee, WI 53209
      View Details
    • Value Estimation by Request
      4,144 SF

      4928 29th St

      RETAIL STORES (PERSONAL SERVICES) • 4,144 SF
      4928 29th St, Milwaukee, WI 53209-5407
      View Details
    • Value Estimation
      $700,000
      6,219 SF

      2500 Silver Spg Dr, Unit 1

      RETAIL STORES (PERSONAL SERVICES) • 6,219 SF
      2500 Silver Spg Dr, Glendale, WI 53209-4218
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Versatile Commercial Space For Sale

      ADA-compliant commercial space suitable for various business types.
      7410 N Teutonia Ave, Milwaukee, WI 53209
      View Details
    • Contact for pricing
      39,479 SF

      Industrial Building with Rail Access

      39,479 SF industrial building with rail access for sale.
      4033 W Custer Ave, Milwaukee, WI 53209
      View Details
    • New
      $145,000
      0.13 Acres

      Milwaukee Duplex with Great Potential

      Two-unit property with cash flow potential in Milwaukee, Wisconsin.
      4768 N 30Th St, Milwaukee, WI 53209
      View Details
    • $1,300,000
      37,837 SF

      Milwaukee Industrial/Office Complex

      37,837 SF Mixed-Use Building, $1.3M
      6820 43Rd St, Milwaukee, WI 53209
      View Details
    • $1,500,000
      70,000 SF

      Fenced Property with Outdoor Storage

      Industrial property featuring secure fencing and outdoor storage space.
      2300-2324 W Cornell St, Milwaukee, WI 53209
      View Details
    • $179,900
      0.12 Acres

      Updated Duplex in Garden Home

      Move-in ready duplex with new features in Milwaukee's Garden Home.
      4215 N 26Th St, Milwaukee, WI 53209
      View Details

    Similar Nearby for Lease

    • $4,000 /Mo
      4,400 SF

      Retail Space in Densely Populated Area

      Retail space available in high-traffic, densely populated Milwaukee neighborhood.
      4055 N Teutonia Ave, Milwaukee, WI 53209
      View Details
    • Contact for pricing
      500 SF

      Retail Space in Milwaukee's North Shore

      Prime retail location with access and signage opportunities.
      6801-6823 N Green Bay Ave, Glendale, WI 53209
      View Details
    • Contact for pricing
      54,431 SF

      Cottonwood Plaza Retail Space

      Glendale, WI: 2,300 SF Retail Available
      505 Cottonwood Ave, Glendale, WI 53209
      View Details
    • Contact for pricing
      29,449 SF

      Kildeer Court Retail Spaces Available

      Prime Milwaukee Retail, High Visibility, 3 Spaces
      3900 Brown Deer Rd, Brown Deer, WI 53209
      View Details
    • $23 SF/Yr
      172,000 SF

      Glendale Office Campus Available

      172,000 SF Class A Office Space
      5757 Green Bay Ave, Milwaukee, WI 53209
      View Details
    • Contact for pricing
      25,513 SF

      Industrial Space with Secured Parking

      Sublease opportunity with heated parking and updated offices.
      2101 W Purdue St, Milwaukee, WI 53209
      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.
    3021 Ruby Ave
    Milwaukee, WI 53209
    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!