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

    500 Elm Grove Rd Elm Grove, WI 53122

    • Commercial real estate
    • 2.37 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Value Estimations
    $525,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0738252
    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

    • Maribeth Sadie, PHD / Psychologist
    • Northwestern Mutual / Financial Planner
    • Northwestern Mutual - Ronald Krizek / Financial Planner / Insurance Agency
    • The Leist Group, LLC / Financial Planner / Tax Preparation
    • Stafda / Association / Organization

    Property Details for 500 Elm Grove Rd

    Lot size
    2.37 lot acres
    Zone code
    B
    Property type
    Commercial real estate
    APN
    EGV 1108979
    APU
    EGV1108979

    Description

    The Tradesman Building, a three-story, 56,816 square foot office building located at 500 Elm Grove Road, Elm Grove, WI 53122, offers a unique blend of classic charm and modern convenience. Built in 1988, this single building on 2.25 acres features six suites, ranging from a minimum of 1,289 square feet to a maximum contiguous space of 17,742 square feet. The building boasts a striking three-story atrium, complemented by original woodwork, operable windows, and rustic brass hardware. Tenants benefit from a spacious boardroom with a full kitchen, providing a versatile space for meetings and events. The property's location near Bluemound Road offers easy access to retail, residential areas, and hospitality options. Convenient covered parking is also available. This multiple-tenancy building is ideal for businesses seeking a distinctive and well-located office space in Waukesha County. The property's traditional, medical, and executive office subtypes cater to a variety of professional needs.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $525,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Elm Grove
    County
    Waukesha
    State
    Wisconsin
    Longitude
    -88.0764
    Latitude
    43.0366
    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
    2023
    $55,078
    $1,651,800
    $2,665,200
    $4,317,000
    -
    $0.00
    $0.00
    $4,779,300

    Comparable in this City

    • Value Estimation
      $485,000
      1.30 Acres

      15280 Bluemound Rd

      COMMERCIAL (GENERAL) • 1.30 Acres
      15280 Bluemound Rd, Elm Grove, WI 53122-2351
      View Details
    • Value Estimation
      $390,000
      18.26 Acres

      1800 Highland Dr

      COMMERCIAL (GENERAL) • 18.26 Acres
      1800 Highland Dr, Elm Grove, WI 53122-1124
      View Details
    • Value Estimation by Request
      1.58 Acres

      660 Pilgrim Pkwy

      COMMERCIAL (GENERAL) • 1.58 Acres
      660 Pilgrim Pkwy, Elm Grove, WI 53122
      View Details
    • Value Estimation by Request
      0.24 Acres

      15350 Watertown Plank Rd

      COMMERCIAL (GENERAL) • 0.24 Acres
      15350 Watertown Plank Rd, Elm Grove, WI 53122-2340
      View Details
    • Value Estimation
      $2,680,000
      1.36 Acres

      15300 Bluemound Rd

      COMMERCIAL (GENERAL) • 1.36 Acres
      15300 Bluemound Rd, Elm Grove, WI 53122-2307
      View Details
    • Value Estimation
      $3,660,000
      3.48 Acres

      12700 Bluemound Rd

      COMMERCIAL (GENERAL) • 3.48 Acres
      12700 Bluemound Rd, Elm Grove, WI 53122-2637
      View Details

    Similar Nearby for Sale

    • $1,189,000
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      Elm Grove Vacant Land Opportunity

      Vacant land in Elm Grove, WI, for custom dream home.
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    Similar Nearby for Lease

    • Contact for pricing
      2,630 SF

      Elm Grove Office Space

      Office space available for lease in Elm Grove, Wisconsin.
      700 Pilgrim Pkwy, Elm Grove, WI 53122
      View Details
    • $19 SF/Yr
      4,650 SF

      Elm Grove Office Space Available

      4,650 square feet of office space for lease.
      15255 Watertown Plank Rd, Elm Grove, WI 53122
      View Details
    • Contact for pricing
      28,778 SF

      Autumn Grove Plaza Retail Space

      High-traffic retail center; spaces available.
      12850-12960 Bluemound Rd, Elm Grove, WI 53122
      View Details
    • $18 SF/Yr
      56,816 SF

      Tradesman Building: Elm Grove Office

      Prime Elm Grove office space, 1,289-17,742 sq ft.
      500 Elm Grove Rd, Elm Grove, WI 53122
      View Details
    • Contact for pricing
      6,672 SF

      Elm Grove Retail & Office Space

      Mid-century gem, prime Elm Grove location
      13180-13200 Watertown Plank Rd, Elm Grove, WI 53122
      View Details
    • Contact for pricing
      8,000 SF

      Prime Elm Grove Office Building

      Executive Suites, 7,800 SF Available
      15285 Watertown Plank Rd, Elm Grove, WI 53122
      View Details
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    500 Elm Grove Rd
    Elm Grove, WI 53122
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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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