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

    56th Ridgewood Dr Menomonee Falls, WI 53051-5656

    • Banks
    • 9,570 SF
    • 3.26 lot acres
    OFF-MARKET
    Last Sale
    Mar 24, 2023
    $900,000
    Value Estimations
    $960,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0696131
    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

    • Banks

    Property Details for 56th Ridgewood Dr

    Year built
    1996
    Lot size
    3.26 lot acres
    Property size
    9,570 SF
    Zone code
    B
    Property type
    Banks
    APN
    MNFV0107994001
    APU
    MNFV0107994001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,035,000
      ML approach
      $1,055,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $728,000
      Market price range: $579k - $1.32M

    • Alternative Use

      Use
      Estimation
      FINANCIAL BUILDING
      $1,010,000
      Current use
      MEDICAL BUILDING
      $1,580,000
      Change: +57% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,490,000
      Change: +48% Conversion: Difficult
      RESTAURANT
      $1,370,000
      Change: +36% Conversion: Difficult
      OFFICE BUILDING
      $1,290,000
      Change: +28% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Menomonee Falls
    County
    Waukesha
    State
    Wisconsin
    Longitude
    -88.1219
    Latitude
    43.12
    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
    2023
    $21,828
    $531,900
    $1,439,000
    $1,970,900
    -
    $0.00
    $0.00
    $2,020,500

    Comparable in this City

    • Value Estimation
      $805,000
      22,808 SF

      96th County Line Rd

      FINANCIAL BUILDING • 22,808 SF
      96th County Line Rd, Menomonee Falls, WI 53051-1361
      View Details
    • Value Estimation
      $415,000
      3,040 SF

      88th Main St

      FINANCIAL BUILDING • 3,040 SF
      88th Main St, Menomonee Falls, WI 53051-3130
      View Details
    • Value Estimation
      $9,775,000
      6,780 SF

      56th Silver Spg Dr

      FINANCIAL BUILDING • 6,780 SF
      56th Silver Spg Dr, Menomonee Falls, WI 53051-5933
      View Details
    • Value Estimation
      $455,000
      8,358 SF

      88th Appleton Ave

      FINANCIAL BUILDING • 8,358 SF
      88th Appleton Ave, Menomonee Falls, WI 53051-2856
      View Details
    • Value Estimation
      $430,000
      4,299 SF

      78th Appleton Ave

      FINANCIAL BUILDING • 4,299 SF
      78th Appleton Ave, Menomonee Falls, WI 53051-4374
      View Details
    • Value Estimation by Request
      10,083 SF

      78th Appleton Ave

      FINANCIAL BUILDING • 10,083 SF
      78th Appleton Ave, Menomonee Falls, WI 53051-4382
      View Details

    Similar Nearby for Sale

    • $6,200,000
      29,050 SF

      Menomonee Falls Retail Opportunity

      Single tenant retail property in Menomonee Falls, Wisconsin.
      16815-16899 Appleton Ave, Menomonee Falls, WI 53051
      View Details
    • $6,250,000
      48,567 SF

      Retail Property in Menomonee Falls

      Retail property for sale in Menomonee Falls, Wisconsin.
      N84 Appleton Ave, Menomonee Falls, WI 53051
      View Details
    • $1,500,000
      0.46 Acres

      Best Buy Outlot: Prime Retail Land

      High-visibility Menomonee Falls commercial lot.
      N95W16855 Falls Pkwy, Menomonee Falls, WI 53051
      View Details
    • $1,200,000
      5,930 SF

      Freestanding Restaurant Building on Appleton

      Freestanding restaurant building with high visibility and ample parking.
      N82 Appleton Ave, Menomonee Falls, WI 53051
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    • $850,000
      3,608 SF

      Automotive Service Facility For Sale

      Automotive service facility with easy access to Interstate 41.
      N88 Main St, Menomonee Falls, WI 53051
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    • $450,000
      7.88 Acres

      Prime Menomonee Falls Industrial Land

      7.88 Acres, Heavy Industrial Zoning
      W137N9237 Wi-145, Menomonee Falls, WI 53051
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      46,371 SF

      Prime Retail Space, Waukesha County

      High-visibility corner store, 4,177 sq ft available.
      n72w12727 Good Hope Rd, Menomonee Falls, WI 53051
      View Details
    • $15 SF/Yr
      4,084 SF

      Retail Space in Menomonee Falls

      Retail space available for lease in Menomonee Falls, WI.
      15560 Silver Spring Dr, Menomonee Falls, WI 53051
      View Details
    • Contact for pricing
      972 SF

      Retail Space on Good Hope

      Retail space with high visibility and strong co-tenants.
      N72 Lund Ln, Menomonee Falls, WI 53051
      View Details
    • $18 SF/Yr
      28,000 SF

      Pilgrim Spring Marketplace Retail Space

      Menomonee Falls retail space for lease.
      0 Nec Pilgrim Rd. & Silver Spg Dr, Menomonee Falls, WI 53051
      View Details
    • $16 SF/Yr
      1,760 SF

      Retail Space in High Point

      Retail space available in high-traffic neighborhood center.
      14044-14108 Silver Spring Dr, Menomonee Falls, WI 53051
      View Details
    • $1,300 /Mo
      1,500 SF

      Menomonee Falls High Visibility Unit

      Fresh, clean upper unit with parking and signage available.
      N82w15340 Appleton Ave, Menomonee Falls, WI 53051
      View Details
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    Menomonee Falls, WI 53051-5656
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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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