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    Property profile & analytics

    3615 National Ave Milwaukee, WI 53215-1045

    • Apartment buildings
    • 11,336 SF
    • 0.36 lot acres
    OFF-MARKET
    Last Sale
    Dec 14, 2022
    Value Estimations
    $1,825,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-3340204
    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

    • Apartment buildings

    Property Details for 3615 National Ave

    Year built
    1967
    Lot size
    0.36 lot acres
    Property size
    11,336 SF
    Zone code
    LB2
    Property type
    Apartment buildings
    APN
    436-0254-110
    APU
    4360254110

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,970,000
      6.5%
      $1,820,000
      7%
      $1,690,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,677,000
      Market price range: $768k - $2.03M
      AI Estimate
      $1,979,000
      Market price range: $791k - $2.25M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,345,000
      Current use
      AUTO REPAIR, GARAGE
      $1,350,000
      Change: +1% Conversion: Difficult
      RETAIL STORES
      $1,220,000
      Change: -9% Conversion: Difficult
      MEDICAL BUILDING
      $1,165,000
      Change: -13% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9594
    Latitude
    43.0211
    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
    $16,360
    $58,800
    $628,300
    $687,100
    -
    $58,800
    $628,300
    $687,100

    Comparable in this City

    • Value Estimation
      $9,790,000
      54,631 SF

      2824 2898th S 33rd St, Unit 2898

      APARTMENT HOUSE (5+ UNITS) • 54,631 SF
      2824 2898th S 33rd St, Milwaukee, WI 53215-5203
      View Details
    • Value Estimation
      $855,000
      4,774 SF

      2970 40th St

      APARTMENT HOUSE (5+ UNITS) • 4,774 SF
      2970 40th St, Milwaukee, WI 53215-3526
      View Details
    • Value Estimation by Request
      5,710 SF

      1936 1938th W Grant St

      APARTMENT HOUSE (5+ UNITS) • 5,710 SF
      1936 1938th W Grant St, Milwaukee, WI 53215
      View Details
    • Value Estimation
      $3,690,000
      20,600 SF

      3325 26th St

      APARTMENT HOUSE (5+ UNITS) • 20,600 SF
      3325 26th St, Milwaukee, WI 53215-4865
      View Details
    • Value Estimation by Request
      2,747 SF

      2932 2934th S 35th St

      APARTMENT HOUSE (5+ UNITS) • 2,747 SF
      2932 2934th S 35th St, Milwaukee, WI 53215
      View Details
    • Value Estimation
      $665,000
      9,834 SF

      1322 Cleveland Ave

      APARTMENT HOUSE (5+ UNITS) • 9,834 SF
      1322 Cleveland Ave, Milwaukee, WI 53215-3375
      View Details

    Similar Nearby for Sale

    • $729,900
      9,954 SF

      Mixed-Use Property with Income Potential

      Mixed-use property with apartments and dance hall in Milwaukee.
      2007 W Forest Home Ave, Milwaukee, WI 53215
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    • $239,900
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      Mixed-Use Property with Daycare

      Two-story mixed-use property with daycare and vacant apartment.
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    • $1,075,000

      Lincoln Ave Multifamily Investment

      14-Unit Apartment Building, Milwaukee
      1200 Lincoln Ave, Milwaukee, WI 53215
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    • $145,000
      0.08 Acres

      Milwaukee Duplex with Income Potential

      Cash-flowing duplex with long-term tenants, ideal for investors.
      2339 S 9Th St, Milwaukee, WI 53215
      View Details
    • $185,000
      0.08 Acres

      Spacious Milwaukee Duplex For Sale

      Two-family property with open layouts, convenient location, and parking.
      3312 W Scott St, Milwaukee, WI 53215
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    • $414,900
      0.12 Acres

      Remodeled Milwaukee Duplex with Garage

      Spacious, remodeled duplex with garage near schools and churches.
      3165 S 15Th St, Milwaukee, WI 53215
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    Similar Nearby for Lease

    • $6 SF/Yr
      92,000 SF

      Milwaukee Warehouse Space Available

      Large industrial warehouse, flexible space options.
      3201-3299 20Th St, Milwaukee, WI 53215
      View Details
    • Contact for pricing

      West Milwaukee Retail Space

      High-traffic retail space, shadow-anchored by Walmart.
      4202 Greenfield Ave, West Milwaukee, WI 53215
      View Details
    • Contact for pricing
      5,605 SF

      Industrial Warehouse Space Available

      5,605 SF warehouse space for lease in Milwaukee.
      2545 N 30Th St, Milwaukee, WI 53215
      View Details
    • $4 SF/Yr
      42,761 SF

      Stadium Business Park IV Space Available

      Milwaukee Flex Space - 23,989 SF Available
      1745 38Th St, Milwaukee, WI 53215
      View Details
    • Contact for pricing
      2,265 SF

      Office Space in Milwaukee

      Office space with elevator access, kitchen, and restroom.
      1236-1300 S Layton Blvd, Milwaukee, WI 53215
      View Details
    • $6 SF/Yr
      52,460 SF

      Stadium Business Park Warehouse Space

      Milwaukee Warehouse: 19,700 SF Available
      3930 Burnham St, Milwaukee, WI 53215
      View Details
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    3615 National Ave
    Milwaukee, WI 53215-1045
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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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