Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    508 Washington St Milwaukee, WI 53204-2461

    • Investment properties
    • 5,472 SF
    • 0.10 lot acres
    OFF-MARKET
    Value Estimations
    $570,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0008798
    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

    • Investment properties

    Property Details for 508 Washington St

    Year built
    1887
    Lot size
    0.10 lot acres
    Property size
    5,472 SF
    Zone code
    IM
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    431-0146-000
    APU
    4310146000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $496,000
      Market price range: $165k - $496k
      AI Estimate
      $522,000
      Market price range: $189k - $522k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $880,000
      AUTO REPAIR, GARAGE
      $655,000
      APARTMENT HOUSE (5+ UNITS)
      $590,000
      MEDICAL BUILDING
      $565,000
      RESTAURANT
      $535,000
      NEIGHBORHOOD: SHOPPING CENTER
      $510,000
      OFFICE BUILDING
      $435,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9172
    Latitude
    43.0203
    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
    $12,603
    $33,600
    $599,800
    $633,400
    -
    $33,600
    $599,800
    $633,400

    Comparable in this City

    • Value Estimation by Request
      7,170 SF

      1029 1033rd W Historic Mitchell St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,170 SF
      1029 1033rd W Historic Mitchell St, Milwaukee, WI 53204
      View Details
    • Value Estimation
      $2,915,000
      29,734 SF

      130 Bruce St, Unit 138

      OFFICE/RESIDENTIAL (MIXED USE) • 29,734 SF
      130 Bruce St, Milwaukee, WI 53204-1667
      View Details
    • Value Estimation
      $875,000
      7,252 SF

      501 Historic Mitchell St, Unit 505

      OFFICE/RESIDENTIAL (MIXED USE) • 7,252 SF
      501 Historic Mitchell St, Milwaukee, WI 53204-3510
      View Details
    • Value Estimation by Request
      5,418 SF

      2029 2031st W Mitchell St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,418 SF
      2029 2031st W Mitchell St, Milwaukee, WI 53204
      View Details
    • Value Estimation
      $805,000
      19,757 SF

      235 2nd St

      OFFICE/RESIDENTIAL (MIXED USE) • 19,757 SF
      235 2nd St, Milwaukee, WI 53204-1412
      View Details
    • Value Estimation by Request
      5,460 SF

      1984 16th St

      OFFICE/RESIDENTIAL (MIXED USE) • 5,460 SF
      1984 16th St, Milwaukee, WI 53204-3712
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Historic Mixed-Use Building in Milwaukee

      Historic mixed-use building in vibrant Walker's Point neighborhood.
      Milwaukee, WI 53204
      View Details
    • $500,000
      6,100 SF

      Milwaukee 8-Unit Brick Building

      Excellent Clarke Square investment opportunity. Eight 1-bedroom units, value-add potential.
      823 S 22nd St, Milwaukee, WI 53204
      View Details
    • $495,000
      4,098 SF

      Walkers Point Retail/Office Condo

      First floor commercial condominium in Walkers Point for sale.
      1017 S 2Nd St, Milwaukee, WI 53204
      View Details
    • $495,000
      20,663 SF

      Redevelopment Opportunity: Theater Building

      Theater building for sale, great redevelopment opportunity.
      1122-1138 W Historic Mitchell St, Milwaukee, WI 53204
      View Details
    • New
      $247,900
      0.08 Acres

      Solid Brick Duplex in Milwaukee

      Two-unit property with strong rental potential for investors or owner-occupants.
      1939 S Winona Ln, Milwaukee, WI 53204
      View Details
    • Contact for pricing
      47,000 SF

      647 Virginia St

      Multifamily properties • 47,000 SF
      647 Virginia St, Milwaukee, WI 53204
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      1,000 SF

      Mixed-Use Property with Surface Parking

      Urban mixed-use property near major employers and high-traffic intersection.
      1320 S 1St St, Milwaukee, WI 53204
      View Details
    • $23 SF/Yr
      101,365 SF

      Florida Street Office Suites

      Walker's Point Executive Offices Available
      234 Florida St, Milwaukee, WI 53204
      View Details
    • $12 SF/Yr
      122,000 SF

      Milwaukee Creative Office Space

      Historic building, flexible suites, prime location
      700 Virginia St, Milwaukee, WI 53204
      View Details
    • $22 SF/Yr
      48,000 SF

      Downtown Milwaukee Retail Space

      Modern Retail, 2,120 SF Available
      211 Mineral St, Milwaukee, WI 53204
      View Details
    • $5 SF/Yr
      43,225 SF

      Walker's Point Industrial Warehouse

      Spacious Milwaukee warehouse, 43,225 SF.
      530 5Th St, Milwaukee, WI 53204
      View Details
    • $16 SF/Yr
      86,156 SF

      Milwaukee Coworking Space Available

      Modern office suites, flexible layouts.
      247 Fresh Water Way, Milwaukee, WI 53204
      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.
    508 Washington St
    Milwaukee, WI 53204-2461
    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

    Google sign-in failed. Please try again or use another login method.