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    5821 West Silver Spring Dr Milwaukee, WI 53218
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    5821 West Silver Spring Dr Milwaukee, WI 53218

    View on Map
    • Strip malls
    • 38,656 SF
    • 1.33 lot acres
    For Lease
    $18 SF/Yr
    View Listing →
    Redeveloped Retail Center For Rent For Lease
    $18 SF/Yr
    1,260 SF

    Redeveloped Retail Center For Rent

    Retail space available in a newly redeveloped shopping center.

    5821 West Silver Spring Drive, Milwaukee, WI 53218
    View Listing
    Property ID
    US92-0433082
    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.
    Value Estimations
    $3,080,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Total by Verizon / Mobile Phone Store / Electronics & Wireless Store

    Property Details for 5821 West Silver Spring Dr

    Year built
    1954
    Lot size
    1.33 lot acres
    Property size
    38,656 SF
    Zone code
    LB1
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    190-2131-000
    APU
    1902131000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,390,000
      ML approach
      $3,405,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,014,000
      Market price range: $1.38M - $5.85M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,595,000
      Current use
      RESTAURANT
      $4,915,000
      Change: +37% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $4,610,000
      Change: +28% Conversion: Difficult
      RETAIL STORES
      $4,160,000
      Change: +16% Conversion: Easy
      MEDICAL BUILDING
      $3,980,000
      Change: +11% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $3,355,000
      Change: -7% Conversion: Easy
      OFFICE BUILDING
      $3,065,000
      Change: -15% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9855
    Latitude
    43.1188
    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
    $60,455
    $132,800
    $2,213,400
    $2,346,200
    -
    $0.00
    $0.00
    $2,818,900

    Comparable in this City

    • Value Estimation
      $1,365,000
      17,637 SF

      5902 5940th N 76th St, Unit 5940

      SHOPPING CENTER, STRIP CENTER • 17,637 SF
      5902 5940th N 76th St, Milwaukee, WI 53218-1845
      View Details
    • Value Estimation by Request
      8,357 SF

      6204 Silver Spg Dr

      SHOPPING CENTER, STRIP CENTER • 8,357 SF
      6204 Silver Spg Dr, Milwaukee, WI 53218-3137
      View Details
    • Value Estimation by Request
      8,754 SF

      7808 Appleton Ave

      SHOPPING CENTER, STRIP CENTER • 8,754 SF
      7808 Appleton Ave, Milwaukee, WI 53218
      View Details
    • Value Estimation by Request
      8,486 SF

      5570 76th St

      SHOPPING CENTER, STRIP CENTER • 8,486 SF
      5570 76th St, Milwaukee, WI 53218-2725
      View Details
    • Value Estimation
      $1,225,000
      14,064 SF

      8329 8333rd W Appleton Ave

      SHOPPING CENTER, STRIP CENTER • 14,064 SF
      8329 8333rd W Appleton Ave, Milwaukee, WI 53218
      View Details
    • Value Estimation
      $1,455,000
      36,040 SF

      6000 Silver Spg Dr

      SHOPPING CENTER, STRIP CENTER • 36,040 SF
      6000 Silver Spg Dr, Milwaukee, WI 53218-3151
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,080 SF

      Two-Level Commercial Office Building

      Two-level commercial office building with multiple offices and parking.
      7212 W Fond Du Lac Ave, Milwaukee, WI 53218
      View Details
    • $759,000
      6,114 SF

      Multi-Unit Commercial Property For Sale

      Well-maintained commercial property with restaurant and office/retail spaces.
      8301 W Silver Spring Dr, Milwaukee, WI 53218
      View Details
    • $320,000
      0.25 Acres

      Well-Maintained Milwaukee Apartment Building

      Fully occupied four-unit building with reliable tenants and income potential.
      5806 N 76Th St, Milwaukee, WI 53218
      View Details
    • $479,900
      0.22 Acres

      Well-Maintained 8-Unit Apartment Building

      Solid investment property near amenities and transportation in Milwaukee.
      4801 N 66Th St, Milwaukee, WI 53218
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    • $1,995,000
      22,526 SF

      Milwaukee Medical Office Building

      22,526 SF Medical Office, NNN Lease
      6246-6312 Fond Du Lac Ave, Milwaukee, WI 53218
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    • Contact for pricing

      Available Land Parcels

      Three land parcels available for sale.
      6200 W Mill Rd, Milwaukee, WI 53218
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      1,260 SF

      Redeveloped Retail Center For Rent

      Retail space available in a newly redeveloped shopping center.
      5821 West Silver Spring Dr, Milwaukee, WI 53218
      View Details
    • $8 SF/Yr
      9,459 SF

      Retail Space in Established Center

      Retail space available in a busy, well-established retail center.
      53218 Usa, Milwaukee, WI 53218
      View Details
    • Contact for pricing
      1,260 SF

      Redeveloped Retail Center Available

      Retail space for rent in a newly redeveloped center.
      5803-5865 W Silver Spring Dr, 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
    • Contact for pricing
      2 SF

      Silver Spring Retail Opportunity

      Retail space with drive-through potential in Silver Spring.
      5540 West Silver Spring Dr, Milwaukee, WI 53218
      View Details
    • Contact for pricing

      Commercial Space for Lease

      Commercial space available for lease in Milwaukee, Wisconsin.
      6601-6671 W Mill Rd, Milwaukee, WI 53218
      View Details
    View Listing
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    Milwaukee, WI 53218
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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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