Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5007 Howell Ave Milwaukee, WI 53207-6157
    Back to Search
    Property profile & analytics

    5007 Howell Ave, Milwaukee, WI 53207-6157

    View on Map
    • Office buildings
    • 62,748 SF
    • 3.18 lot acres
    Off-Market
    Property ID
    US92-1097416
    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.
    Value Estimations
    $2,155,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dr. Patrick J. Knapp Jr, DDS / Dental Office
    • Fajkowski Debra / Dental Office
    • Frey-Rude & Associates Inc / Insurance Agency
    • HC Intellect / Medical Billing Service
    • Hand to Shoulder Specialists of Wisconsin / Medical Clinic

    Property Details for 5007 Howell Ave

    Year built
    1990
    Lot size
    3.18 lot acres
    Zone code
    LB1
    Property type
    Office buildings
    APN
    626-0302-000
    APU
    6260302000

    Description

    This exceptional 60,000 square foot medical office building in Milwaukee, Wisconsin, presents a compelling investment opportunity. Located at 5007 S Howell Ave, 53207, this property boasts a prime location directly across from Milwaukee Mitchell International Airport, placing it within an opportunity zone. The building commands an asking price of $8,500,000, offering a strong 8.35% capitalization rate and a substantial net operating income (NOI) of $710,277. Approximately 60% of the building is currently occupied by medical tenants, with the remaining space leased to airport-related businesses, ensuring a stable and diverse tenant base. Recent significant capital improvements enhance the property's value and appeal. These upgrades include a complete lobby remodel with upgraded restrooms, energy-efficient LED lighting throughout the parking lot and common areas, installation of a new chiller and boilers for optimal climate control, a comprehensive security camera system for enhanced safety, extensive parking lot repairs, and the complete replacement of all 450 windows. This meticulously maintained building offers excellent accessibility and presents a rare opportunity to acquire a high-performing asset in a strategic location. The combination of strong NOI, prime location, and recent renovations makes this a truly exceptional investment prospect.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,642,000
      Market price range: $2.64M - $7.71M
      AI Estimate
      $2,794,000
      Market price range: $1.85M - $8.77M

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9106
    Latitude
    42.9534
    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
    $54,763
    $1,095,200
    $1,204,800
    $2,300,000
    -
    $1,095,200
    $1,204,800
    $2,300,000

    Comparable in this City

    • Value Estimation
      $515,000
      11,460 SF

      4359 Howell Ave

      OFFICE BUILDING (MULTI-STORY)
      4359 Howell Ave, Milwaukee, WI 53207-5056
      View Details
    • Value Estimation by Request
      4,092 SF

      3509 Howell Ave

      OFFICE BUILDING
      3509 Howell Ave, Milwaukee, WI 53207
      View Details
    • Value Estimation by Request
      2,840 SF

      3757 Howell Ave

      OFFICE BUILDING (MULTI-STORY)
      3757 Howell Ave, Milwaukee, WI 53207-3870
      View Details
    • Value Estimation
      $5,525,000
      61,500 SF

      4915 Howell Ave

      OFFICE BUILDING (MULTI-STORY)
      4915 Howell Ave, Milwaukee, WI 53207-5939
      View Details
    • Value Estimation by Request
      1,934 SF

      2330 Burrell St

      OFFICE BUILDING
      2330 Burrell St, Milwaukee, WI 53207-1520
      View Details
    • Value Estimation by Request
      2,242 SF

      4100 Howell Ave

      OFFICE BUILDING (MULTI-STORY)
      4100 Howell Ave, Milwaukee, WI 53207-4410
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,385 SF

      Mixed-Use Property on Kinnickinnic Avenue

      Value-add opportunity with residential and commercial spaces on Kinnickinnic.
      3459 S Kinnickinnic Ave, Milwaukee, WI 53207
      View Details
    • $575,000
      2,722 SF

      Bayview Four Family Opportunity

      Spacious one-bedroom units in desirable Milwaukee location.
      2440 South Wentworth Ave, Milwaukee, WI 53207
      View Details
    • $325,000
      0.11 Acres

      Bay View Bungalow Duplex

      Classic bungalow duplex in Bay View with investment potential.
      3234 S Pine Ave, Milwaukee, WI 53207
      View Details
    • Contact for pricing
      1,710 SF

      High Visibility Retail Space Available

      Retail space with high visibility, strong pedestrian traffic, good parking.
      3133 S Kinnickinnic Ave, Milwaukee, WI 53207
      View Details
    • $500,000
      2,400 SF

      Bay View Duplex Opportunity

      Milwaukee duplex near Humboldt Park with updated features.
      2556 S Brisbane Ave, Milwaukee, WI 53207
      View Details
    • $575,000
      3,390 SF

      Bayview Mixed-Use Investment Opportunity

      Turn-key bar with apartments in Milwaukee's Bayview area.
      3423 South Clement Ave, Milwaukee, WI 53207
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      27,200 SF

      Milwaukee Office Space For Rent

      14,359 square foot office space available for lease.
      218 W Becher St, Milwaukee, WI 53207
      View Details
    • Contact for pricing
      4,886 SF

      Office Space Near Layton Avenue

      Office space near Layton Avenue and South 6th Streets.
      4848-4868 S 6Th St, Milwaukee, WI 53207
      View Details
    • Contact for pricing

      Warehouse and Office Space Available

      Warehouse and office spaces available near I-94 and the airport.
      5140 S 3Rd St, Milwaukee, WI 53207
      View Details
    • Contact for pricing
      15,411 SF

      Office Space with River Views

      Office space featuring exposed beams, high ceilings, and river views.
      2156 S 4Th St, Milwaukee, WI 53207
      View Details
    • Contact for pricing
      1,565 SF

      Turnkey Restaurant Space in Bayview

      Restaurant and retail spaces for sale in thriving Bayview.
      2121 S Kinnickinnic Ave, Milwaukee, WI 53207
      View Details
    • Contact for pricing

      Milwaukee Retail Space Available

      Retail space available, offering 4,800 square feet.
      2757 S 5Th Ct, Milwaukee, WI 53207
      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.
    5007 Howell Ave
    Milwaukee, WI 53207-6157
    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

    Thank You for Inquiry
    5007 Howell Ave, Milwaukee, WI, 53207
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!