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

    3109 Kinnickinnic Ave Milwaukee, WI 53207-2935

    • Drug stores
    • 9,620 SF
    • 0.64 lot acres
    OFF-MARKET
    Last Sale
    Feb 27, 2024
    $2,284,200
    Value Estimations
    $2,160,000
    Show details
    Cap Rate Potential
    4.4%
    Drug stores
    Location Intelligence
    Property ID
    US92-1307138
    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

    • Walgreens / Cosmetics Store / Greeting Card Shop
    • Walgreens Photo / Passport Photo Processor / Photo Lab
    • Jeffrey Turner, RPH / Pharmacy
    • Walgreens Pharmacy / Pharmacy
    • James S. Osielski, RPH / Pharmacy

    Property Details for 3109 Kinnickinnic Ave

    Year built
    1986
    Lot size
    0.64 lot acres
    Property size
    9,620 SF
    Zone code
    LB2
    Property type
    Drug stores
    APN
    540-0801-110
    APU
    5400801110

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,285,000
      ML approach
      $2,285,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,680,000
      6.5%
      $1,550,000
      7%
      $1,440,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,284,000
      Market price range: $866k - $2.28M
      AI Estimate
      $1,764,000
      Market price range: $510k - $1.76M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,660,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $2,215,000
      Change: +33% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.8837
    Latitude
    42.9878
    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
    $31,151
    $195,300
    $1,113,000
    $1,308,300
    -
    $195,300
    $1,113,000
    $1,308,300

    Comparable in this City

    • Value Estimation
      $795,000
      20,875 SF

      3701 Howell Ave

      DRUG STORE, PHARMACY • 20,875 SF
      3701 Howell Ave, Milwaukee, WI 53207-3838
      View Details
    • Value Estimation
      $480,000
      29,760 SF

      131 Layton Ave

      FINANCIAL BUILDING • 29,760 SF
      131 Layton Ave, Milwaukee, WI 53207-5941
      View Details
    • Value Estimation
      $350,000
      1,575 SF

      6272 Packard Ave

      CONVENIENCE STORE • 1,575 SF
      6272 Packard Ave, Milwaukee, WI 53207
      View Details
    • Value Estimation
      $255,000
      1,650 SF

      911 Potter Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,650 SF
      911 Potter Ave, Milwaukee, WI 53207-1811
      View Details
    • Value Estimation
      $260,000
      1,180 SF

      422 Lincoln Ave, Unit 2276

      RETAIL STORES (PERSONAL SERVICES) • 1,180 SF
      422 Lincoln Ave, Milwaukee, WI 53207-1757
      View Details
    • Value Estimation
      $395,000
      1,240 SF

      4080 Howell Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,240 SF
      4080 Howell Ave, Milwaukee, WI 53207-4408
      View Details

    Similar Nearby for Sale

    • $3,590,000
      1,800 SF

      Turnkey Restaurant Space in Bayview

      Restaurant and retail spaces for sale in thriving Bayview.
      2121 S Kinnickinnic Ave, Milwaukee, WI 53207
      View Details
    • $685,000
      3,375 SF

      Bay View Commercial Properties

      Two adjacent commercial properties in Bay View's thriving business district.
      2474 S Kinnickinnic Ave, Milwaukee, WI 53207
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    • $1,520,000
      3,192 SF

      Restaurant Space in Desirable Neighborhood

      Vacant restaurant space near new and upcoming apartments.
      2254-2264 S Kinnickinnic Ave, Milwaukee, WI 53207
      View Details
    • $3,950,000
      2,630 SF

      Milwaukee Commercial Portfolio

      Versatile Multi-Use Property, Prime Location
      5917 Howell Ave, Milwaukee, WI 53207
      View Details
    • $1,750,000
      5,436 SF

      Turnkey Restaurant Near Airport

      Profitable restaurant or redevelopment opportunity near Mitchell International Airport.
      4959 S Howell Ave, Milwaukee, WI 53207
      View Details
    • $750,000

      Retail Center and Pad Site

      Retail strip center with high visibility and easy access.
      938 W Layton Ave, Milwaukee, WI 53207
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
      1,600 SF

      Retail Space Available For Rent

      Retail space available for lease in Milwaukee, Wisconsin.
      150-260 W Holt Ave, Milwaukee, WI 53207
      View Details
    • Contact for pricing
      4,936 SF

      Retail Space in High-Traffic Area

      Retail spaces available in well-designed strip center near airport.
      938-1020 W Layton Ave, Milwaukee, WI 53207
      View Details
    • Contact for pricing
      1,368 SF

      Retail Space on W Morgan

      Retail space available for rent, 1368 square feet.
      2603-2609 W Morgan Ave, Milwaukee, WI 53207
      View Details
    • $25 SF/Yr
      3,500 SF

      Retail Space in Kinnickinnic Corridor

      First floor retail space with luxury apartments above.
      2110-2160 S Kinnickinnic Ave, Milwaukee, WI 53207
      View Details
    • Contact for pricing
      1,666 SF

      Retail Space in High-Traffic Area

      Retail space with high visibility and access in West Allis.
      7500-7552 W Oklahoma Ave, West Allis, WI 53207
      View Details
    • $5 SF/Yr
      160,800 SF

      Airport Commerce Center: Milwaukee Power Center

      High-profile Milwaukee retail space available.
      550 Grange Ave, Milwaukee, WI 53207
      View Details
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    Milwaukee, WI 53207-2935
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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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