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    Property profile & analytics

    5555 Prt Washington Rd Glendale, WI 53217-4929

    • Office buildings
    • 18,288 SF
    • 1.23 lot acres
    OFF-MARKET
    Last Sale
    Dec 13, 2023
    $1,160,000
    Value Estimations
    $1,260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0517143
    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

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 5555 Prt Washington Rd

    Year built
    1979
    Lot size
    1.23 lot acres
    Property size
    18,288 SF
    Property type
    Office buildings
    APN
    196-8986-002
    APU
    1968986002

    Description

    This exceptional B-class office space, located at 5555 N. Port Washington Rd, offers 2,087 square feet of versatile space ideal for a variety of businesses. The property is a multi-tenant building constructed in 1980 and features a traditional office layout suitable for both general office use and medical practices. One space is currently available for lease. The building enjoys a highly desirable location, offering unparalleled visibility and convenience. Its proximity to Bayshore Mall provides employees and clients with easy access to a wide array of shopping, dining, and entertainment options. Ample parking is available on-site, ensuring convenient access for everyone. This property presents a unique opportunity to establish a presence in a thriving commercial area with excellent amenities and high visibility. The building's traditional office design offers a classic and functional workspace, while its dual suitability for traditional and medical office use expands the potential tenant pool. The location near Bayshore Mall provides a significant advantage, enhancing the appeal to both employees and clients. The abundant parking further contributes to the property's overall attractiveness. This is an excellent opportunity to secure a well-located, functional office space in a vibrant commercial district.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,480,000
      ML approach
      $1,370,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,313,000
      Market price range: $770k - $2.25M
      AI Estimate
      $1,081,000
      Market price range: $572k - $1.74M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,450,000
      Current use
      RETAIL STORES
      $1,970,000
      Change: +36% Conversion: Moderate
      MEDICAL BUILDING
      $1,885,000
      Change: +30% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,700,000
      Change: +17% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,585,000
      Change: +9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Glendale
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9172
    Latitude
    43.1175
    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
    $58,317
    $1,650,000
    $544,500
    $2,194,500
    -
    $0.00
    $0.00
    $2,645,200

    Comparable in this City

    • Value Estimation
      $580,000
      6,378 SF

      430 Silver Spg Dr

      OFFICE BUILDING • 6,378 SF
      430 Silver Spg Dr, Whitefish Bay, WI 53217-5224
      View Details
    • Value Estimation
      $2,680,000
      53,859 SF

      250 Coventry Ct, Unit 1

      OFFICE BUILDING • 53,859 SF
      250 Coventry Ct, Glendale, WI 53217-3972
      View Details
    • Value Estimation by Request
      4,736 SF

      6924 Prt Washington Rd

      OFFICE BUILDING • 4,736 SF
      6924 Prt Washington Rd, Glendale, WI 53217-3921
      View Details
    • Value Estimation by Request
      5,206 SF

      5050 Prt Washington Rd

      OFFICE BUILDING • 5,206 SF
      5050 Prt Washington Rd, Glendale, WI 53217-5481
      View Details
    • Value Estimation by Request
      1,745 SF

      5630 Lk Dr

      OFFICE BUILDING • 1,745 SF
      5630 Lk Dr, Whitefish Bay, WI 53217-4800
      View Details
    • Value Estimation
      $755,000
      20,176 SF

      5215 Ironwood Rd

      OFFICE BUILDING • 20,176 SF
      5215 Ironwood Rd, Glendale, WI 53217-4915
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      18,426 SF

      Well-Maintained Office and Medical Building

      Office and medical building with great visibility and freeway access.
      6373 N Jean Nicolet Rd, Glendale, WI 53217
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    • $4,400,000
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      The Berkley Building: Whitefish Bay Investment

      Mixed-use building, high occupancy, strong cap rate
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    • Contact for pricing
      233,328 SF

      Glendale Industrial/Office Complex

      233,328 SF, prime Northshore location.
      5055 Lydell Ave, Glendale, WI 53217
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    • New
      $262,000
      1,502 SF

      Mixed-Use Property in Glendale, WI

      Mixed-use property with business zoning, convenient location, and residential space.
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    • $4,000,000
      27,880 SF

      Prime Whitefish Bay Commercial Building

      Exceptional Retail & Office Investment
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    • $2,925,000
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      Glendale Medical Office Building

      18,426 SF Medical Office - $2.925M
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      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      14,986 SF

      North Shore Office Space Available

      Divisible office building with ample parking and redevelopment potential.
      8050 N Port Washington Rd, Milwaukee, WI 53217
      View Details
    • $6 SF/Yr
      6,249 SF

      Bayside Office Space for Lease

      Flexible Workspace Solutions in Bayside, WI
      555 Brown Deer Rd, Bayside, WI 53217
      View Details
    • $18 SF/Yr
      19,898 SF

      Silver Spring Drive Office Suites

      Executive office space, prime location.
      121 Silver Spg Dr, Whitefish Bay, WI 53217
      View Details
    • $17 SF/Yr
      21,114 SF

      Glendale Executive Office Space

      Prime Glendale location, multiple suites available.
      5225 Ironwood Rd, Glendale, WI 53217
      View Details
    • $19 SF/Yr
      22,294 SF

      Prime Whitefish Bay Office Suites

      Executive office space, flexible terms.
      409 Silver Spg Dr, Whitefish Bay, WI 53217
      View Details
    • $12 SF/Yr
      18,426 SF

      Glendale Office Space For Lease

      Executive & Medical Suites Available
      6373 Jean Nicolet Rd, Glendale, WI 53217
      View Details
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    5555 Prt Washington Rd
    Glendale, WI 53217-4929
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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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