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

    3970 Oakland Ave Shorewood, WI 53211-2265

    • Office buildings
    • 46,416 SF
    • 1.41 lot acres
    OFF-MARKET
    Last Sale
    Jul 28, 2021
    $4,500,000
    Value Estimations
    $4,610,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-1099819
    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

    • Office buildings

    Property Details for 3970 Oakland Ave

    Year built
    1974
    Lot size
    1.41 lot acres
    Property size
    46,416 SF
    Property type
    Office buildings
    APN
    276-0749-006
    APU
    2760749006

    Description

    This 650-square-foot medical office suite is located in the desirable Shorewood, Wisconsin, Village at 3970 N Oakland Ave #406. The space is available for lease at a gross rent of $1,314 per month and includes tenant improvements such as fresh paint, new carpeting, and ceiling tiles. The building is a newly renovated, eco-friendly, and energy-efficient structure featuring the second-largest solar-paneled wall in Wisconsin. Building renovations also include a natural wood wall in the lobby, hallways, updated lighting, and renovated restrooms on every floor. Exterior improvements include new landscaping and a paved parking lot with four electric car charging stations. The building offers 130 total parking spaces and elevator access within its ten stories. The suite boasts an 8-10 foot ceiling height. This single-tenant space is conveniently located near restaurants and shops, and just minutes from downtown Milwaukee. Marque space is available for an additional fee. Tenants are responsible for maintaining the cleanliness of their unit and waste removal.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,705,000
      ML approach
      $5,565,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,791,000
      Market price range: $2.79M - $6.10M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,620,000
      Current use
      COMMERCIAL (GENERAL)
      $6,585,000
      Change: +82% Conversion: Easy
      RESTAURANT
      $5,895,000
      Change: +63% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $5,665,000
      Change: +57% Conversion: Difficult
      RETAIL STORES
      $4,975,000
      Change: +37% Conversion: Moderate
      MEDICAL BUILDING
      $4,805,000
      Change: +33% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $4,260,000
      Change: +18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Shorewood
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.8866
    Latitude
    43.0888
    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
    $63,482
    $1,391,300
    $1,246,500
    $2,637,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $825,000
      3,648 SF

      4611 Oakland Ave

      OFFICE BUILDING • 3,648 SF
      4611 Oakland Ave, Shorewood, WI 53211-1265
      View Details
    • Value Estimation by Request
      2,976 SF

      2414 Farwell Ave

      OFFICE BUILDING • 2,976 SF
      2414 Farwell Ave, Milwaukee, WI 53211-4414
      View Details
    • Value Estimation
      $775,000
      5,942 SF

      4750 Santa Monica Blvd

      OFFICE BUILDING • 5,942 SF
      4750 Santa Monica Blvd, Whitefish Bay, WI 53211-1042
      View Details
    • Value Estimation by Request
      3,690 SF

      1410 Capitol Dr

      OFFICE BUILDING • 3,690 SF
      1410 Capitol Dr, Shorewood, WI 53211-1901
      View Details
    • Value Estimation by Request
      4,400 SF

      4532 Oakland Ave

      OFFICE BUILDING • 4,400 SF
      4532 Oakland Ave, Whitefish Bay, WI 53211-1215
      View Details
    • Value Estimation
      $745,000
      5,769 SF

      4483 Oakland Ave, Unit 1

      OFFICE BUILDING • 5,769 SF
      4483 Oakland Ave, Shorewood, WI 53211
      View Details

    Similar Nearby for Sale

    • $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
      View Details
    • New
      $485,000
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      Classic Shorewood Duplex Near Amenities

      Shorewood duplex near schools, shops, restaurants, and parks.
      1633 E Newton Ave, Shorewood, WI 53211
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    • $1,350,000
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      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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    • $2,650,000
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      Milwaukee Retail and Parking Portfolio

      Portfolio sale featuring retail space and parking units.
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      East Side Retail Opportunity

      Second floor vacant space on Milwaukee’s East Side.
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      Remodeled Duplex with Airbnb Potential

      Remodeled duplex, currently Airbnb, grossing over $6,500/month.
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      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      1,620 SF

      Updated Office Building in Shorewood

      Recently updated office building in a great Shorewood location.
      3506-3510 N Oakland Ave, Shorewood, 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
    • $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
    • $550 /Mo
      110 SF

      Furnished Office Spaces Available

      Furnished offices with shared amenities in Shorewood, Wisconsin.
      1200 E Capitol Dr, Milwaukee, WI 53211
      View Details
    • Contact for pricing
      158,820 SF

      Milwaukee Medical Office Space

      Modern medical suites, prime location.
      2350 Lake Dr, Milwaukee, 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
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    3970 Oakland Ave
    Shorewood, WI 53211-2265
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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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