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    Property profile & analytics

    550 Grange Ave Milwaukee, WI 53207

    • Retail space
    • 6,027 SF
    • 4.77 lot acres
    For Lease
    View listing
    $5 SF/Yr
    Last Sale
    Jan 08, 2020
    $550,000
    Value Estimations
    $565,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0717636
    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

    • Milwaukee Lyft Flexdrive / Car Rental Agency
    • Milwaukee, WI - Lyft / Transportation Service / Transcription Service

    Property Details for 550 Grange Ave

    Year built
    1996
    Lot size
    4.77 lot acres
    Property size
    6,027 SF
    Zone code
    IL1
    Property type
    Retail space
    APN
    641-0151-000
    APU
    6410151000

    Description

    The Airport Commerce Center, a Class A power center located at 550 W Grange Ave in Milwaukee, Wisconsin, presents a unique opportunity for a large-scale retail tenant. This expansive property boasts a total of 160,800 square feet of retail space, currently entirely vacant and available for immediate occupancy. The minimum divisible space is 80,000 square feet, while the maximum contiguous space available is the entire 160,800 square feet, offering flexibility for various retail concepts. The property is situated in Milwaukee County, Wisconsin, with a convenient zip code of 53207. Ample parking is provided with 336 car parking stalls. The building is equipped with robust 480V 3-Phase power, ensuring sufficient capacity for demanding retail operations. This prime location offers exceptional visibility and accessibility, making it an ideal choice for businesses seeking a significant presence in the Milwaukee market. The property's size and features make it suitable for a variety of retail uses, from big-box stores to multi-tenant developments. Interested parties should act quickly to secure this exceptional retail opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $540,000
      ML approach
      $570,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $853,000
      Market price range: $319k - $1.11M

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.919
    Latitude
    42.9464
    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
    $12,498
    $524,800
    $100
    $524,900
    -
    $524,800
    $100
    $524,900

    Comparable in this City

    • Value Estimation
      $280,000
      1,650 SF

      911 Potter Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,650 SF
      911 Potter Ave, Milwaukee, WI 53207-1811
      View Details
    • Value Estimation
      $265,000
      1,180 SF

      422 Lincoln Ave, Unit 2276

      RETAIL STORES (PERSONAL SERVICES) • 1,180 SF
      422 Lincoln Ave, Milwaukee, WI 53207-1757
      View Details
    • Value Estimation
      $395,000
      1,240 SF

      4080 Howell Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,240 SF
      4080 Howell Ave, Milwaukee, WI 53207-4408
      View Details
    • Value Estimation
      $1,095,000
      3,200 SF

      6110 Howell Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,200 SF
      6110 Howell Ave, Milwaukee, WI 53207-6236
      View Details
    • Value Estimation
      $1,715,000
      13,897 SF

      3555 Howell Ave

      RETAIL STORES (PERSONAL SERVICES) • 13,897 SF
      3555 Howell Ave, Milwaukee, WI 53207-3321
      View Details
    • Value Estimation
      $480,000
      4,353 SF

      4337 Howell Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,353 SF
      4337 Howell Ave, Milwaukee, WI 53207-5029
      View Details

    Similar Nearby for Sale

    • $685,000
      3,375 SF

      Bay View Commercial Properties

      Two adjacent commercial properties in Bay View's thriving business district.
      2474 S Kinnickinnic Ave, Milwaukee, WI 53207
      View Details
    • $3,590,000
      1,800 SF

      Turnkey Restaurant Space in Bayview

      Restaurant and retail spaces for sale in thriving Bayview.
      2121 S Kinnickinnic Ave, Milwaukee, WI 53207
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    • $1,265,000
      1,710 SF

      Pizza Hut Investment Opportunity

      Milwaukee Pizza Hut: NNN Lease, High ROI
      3131 Kinnickinnic Ave, Milwaukee, WI 53207
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    • $1,520,000
      3,192 SF

      Restaurant Space in Desirable Neighborhood

      Vacant restaurant space near new and upcoming apartments.
      2254-2264 S Kinnickinnic Ave, Milwaukee, WI 53207
      View Details
    • $3,950,000
      2,630 SF

      Milwaukee Commercial Portfolio

      Versatile Multi-Use Property, Prime Location
      5917 Howell Ave, Milwaukee, WI 53207
      View Details
    • $1,750,000
      5,436 SF

      Turnkey Restaurant Near Airport

      Profitable restaurant or redevelopment opportunity near Mitchell International Airport.
      4959 S Howell Ave, Milwaukee, WI 53207
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
      1,600 SF

      Retail Space Available For Rent

      Retail space available for lease in Milwaukee, Wisconsin.
      150-260 W Holt Ave, Milwaukee, WI 53207
      View Details
    • Contact for pricing
      4,936 SF

      Retail Space in High-Traffic Area

      Retail spaces available in well-designed strip center near airport.
      938-1020 W Layton Ave, Milwaukee, WI 53207
      View Details
    • $25 SF/Yr
      3,500 SF

      Retail Space in Kinnickinnic Corridor

      First floor retail space with luxury apartments above.
      2110-2160 S Kinnickinnic Ave, Milwaukee, WI 53207
      View Details
    • Contact for pricing
      1,368 SF

      Retail Space on W Morgan

      Retail space available for rent, 1368 square feet.
      2603-2609 W Morgan Ave, Milwaukee, WI 53207
      View Details
    • Contact for pricing
      1,666 SF

      Retail Space in High-Traffic Area

      Retail space with high visibility and access in West Allis.
      7500-7552 W Oklahoma Ave, West Allis, WI 53207
      View Details
    • $14 SF/Yr
      29,491 SF

      Chase Ave Plaza Retail Space

      Milwaukee Retail Space: 1,380 SF Available
      2960-84 Chase Ave, Milwaukee, WI 53207
      View Details
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    550 Grange Ave
    Milwaukee, WI 53207
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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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