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

    5500 Florist Ave Milwaukee, WI 53218-1619

    • Warehouses
    • 33,600 SF
    • 1.67 lot acres
    OFF-MARKET
    Last Sale
    May 18, 2020
    $650,000
    Value Estimations
    $745,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0132240
    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

    • Warehouses

    Property Details for 5500 Florist Ave

    Year built
    1973
    Lot size
    1.67 lot acres
    Property size
    33,600 SF
    Zone code
    IL1
    Property type
    Warehouses
    APN
    156-9996-149
    APU
    1569996149

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $640,000
      ML approach
      $960,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $816,000
      Market price range: $572k - $1.23M

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9815
    Latitude
    43.1272
    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
    $20,329
    $83,500
    $770,300
    $853,800
    -
    $83,500
    $770,300
    $853,800

    Comparable in this City

    • Value Estimation
      $575,000
      11,005 SF

      7826 Florist Ave

      WAREHOUSE, STORAGE • 11,005 SF
      7826 Florist Ave, Milwaukee, WI 53218-1740
      View Details
    • Value Estimation
      $2,335,000
      116,925 SF

      5960 60th St

      WAREHOUSE, STORAGE • 116,925 SF
      5960 60th St, Milwaukee, WI 53218
      View Details
    • Value Estimation
      $1,215,000
      70,868 SF

      5880 60th St

      WAREHOUSE, STORAGE • 70,868 SF
      5880 60th St, Milwaukee, WI 53218-2041
      View Details
    • Value Estimation
      $1,115,000
      38,803 SF

      6103 76th St

      WAREHOUSE, STORAGE • 38,803 SF
      6103 76th St, Milwaukee, WI 53218-1205
      View Details
    • Value Estimation
      $745,000
      15,265 SF

      5635 Douglas Ave

      WAREHOUSE, STORAGE • 15,265 SF
      5635 Douglas Ave, Milwaukee, WI 53218-1613
      View Details
    • Value Estimation
      $1,050,000
      44,885 SF

      5611 Ml Rd

      WAREHOUSE, STORAGE • 44,885 SF
      5611 Ml Rd, Milwaukee, WI 53218-1339
      View Details

    Similar Nearby for Sale

    • $3,300,000
      54,400 SF

      Milwaukee Warehouse For Sale

      Well-maintained, sprinklered 54,400 square foot warehouse in Milwaukee.
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    • $395,000
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      Industrial Land with Highway Access

      Land with easy access to I-41 for development.
      8300 W Florist Ave, Milwaukee, WI 53218
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    • $720,000
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      Prime Norman Office Space Available

      Executive suites, flexible layouts, I-35 access
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    • $975,000
      22,526 SF

      Versatile Commercial Building For Sale

      Single tenant building suitable for medical, office, retail, or flex.
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    • $8,499,000
      186,835 SF

      Manufacturing Facility with Heavy Power

      State-of-the-art manufacturing facility available June 2026.
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      View Details
    • $1,995,000
      22,526 SF

      Milwaukee Medical Office Building

      22,526 SF Medical Office, NNN Lease
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    Similar Nearby for Lease

    • $5 SF/Yr
      7,850 SF

      Professionally Managed Flex Space

      Single-story flex buildings with dock and drive-in loading.
      6629-6643 W Mill Rd, Milwaukee, WI 53218
      View Details
    • $12 SF/Yr
      8,964 SF

      Stand-Alone Buildings with Ample Parking

      Two buildings with highway access, ideal for automotive businesses.
      8347 W Fond Du Lac Ave, Milwaukee, WI 53218
      View Details
    • $4 SF/Yr
      17,667 SF

      Milwaukee Industrial Space For Lease

      High-bay warehouse & office space available.
      5840 60Th St, Milwaukee, WI 53218
      View Details
    • $5 SF/Yr
      94,472 SF

      Milwaukee Tech Center: Industrial Space

      94,472 SF Warehouse/Flex Space Available
      7400 Florist Ave, Milwaukee, WI 53218
      View Details
    • $5 SF/Yr
      14,031 SF

      Flex Space in Business Center

      Professionally managed flex space with dock and drive-in loading.
      6601-6613 W Mill Rd, Milwaukee, WI 53218
      View Details
    • Contact for pricing
      21,476 SF

      Industrial Space with Large Lot

      21,476 SF industrial space with parking available for lease.
      4801 W Woolworth Ave, Milwaukee, WI 53218
      View Details
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    5500 Florist Ave
    Milwaukee, WI 53218-1619
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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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