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    6015 W Forest Home Ave, Unit aka 6023 Milwaukee, WI 53220
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    Property profile & analytics

    6015 W Forest Home Ave, Unit aka 6023 Milwaukee, WI 53220

    View on Map
    • Retail space
    • 6,218 SF
    • 0.62 lot acres
    For Lease
    $1,250,000
    View Listing →
    Retail Space Under New Ownership For Lease
    $1,250,000

    Retail Space Under New Ownership

    Retail space for lease in high-traffic Milwaukee location.

    6015 W Forest Home Ave (aka 6023), Milwaukee, WI 53220
    View Listing
    Property ID
    US92-0619188
    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
    $1,250,000
    Cap Rate Potential
    5.2%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • American Family Insurance / Insurance Agency
    • Old Grove Maytag Coin Laundry / (Bike/Boat/Book/etc) Store
    • Pretty Pooches / Pet Grooming Service
    • PDL Inc / Trucking Company
    • AutoZone Auto Parts / Auto Parts Store

    Property Details for 6015 W Forest Home Ave

    Year built
    2004
    Lot size
    0.62 lot acres
    Property size
    6,218 SF
    Zone code
    LB1
    Property type
    Retail space
    APN
    557-1603-000
    APU
    5571603000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,250,000
      ML approach
      $1,250,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,085,000
      6.5%
      $1,005,000
      7%
      $930,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,146,000
      Market price range: $304k - $1.15M
      AI Estimate
      $868,000
      Market price range: $264k - $868k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,215,000
      COMMERCIAL (GENERAL)
      $1,160,000
      RESTAURANT
      $790,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9884
    Latitude
    42.9761
    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
    $22,536
    $214,200
    $732,300
    $946,500
    -
    $214,200
    $732,300
    $946,500

    Comparable in this City

    • Value Estimation
      $505,000
      3,458 SF

      3525 76th St

      RETAIL STORES (PERSONAL SERVICES) • 3,458 SF
      3525 76th St, Milwaukee, WI 53220-1141
      View Details
    • Value Estimation
      $3,290,000
      36,400 SF

      6700 Frst Home Ave

      RETAIL STORES (PERSONAL SERVICES) • 36,400 SF
      6700 Frst Home Ave, Milwaukee, WI 53220-2408
      View Details
    • Value Estimation by Request
      2,400 SF

      6530 Frst Home Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      6530 Frst Home Ave, Milwaukee, WI 53220-2404
      View Details
    • Value Estimation by Request
      3,896 SF

      6004 Howard Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,896 SF
      6004 Howard Ave, Milwaukee, WI 53220-1948
      View Details
    • Value Estimation by Request
      2,310 SF

      5910 Frst Home Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,310 SF
      5910 Frst Home Ave, Milwaukee, WI 53220-1901
      View Details
    • Value Estimation by Request
      5,542 SF

      3680 60th St

      RETAIL STORES (PERSONAL SERVICES) • 5,542 SF
      3680 60th St, Milwaukee, WI 53220-1304
      View Details

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      Automotive building with 5,140 square feet available for sale.
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      High Visibility Commercial Land

      Commercial land with high traffic and convenient location.
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      5,000 SF

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      1,240 SF

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      Move-in-ready condo featuring two bedrooms, garage, and basement.
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      Greenfield Office Space For Lease

      Office suites available with freeway access and ample parking.
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      Land Parcels Near Park Area

      Two land parcels totaling 2.5 acres near I-43.
      6160 W Waterford Ct, Milwaukee, WI 53220
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    Similar Nearby for Lease

    • $19 SF/Yr
      2,000 SF

      New Construction Retail Space Available

      New retail space with high visibility and monument signage.
      3928 South 76Th St, Milwaukee, WI 53220
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space on Corner Location

      Retail space available in a high-density area.
      3921-3953 S 76Th St, Milwaukee, WI 53220
      View Details
    • Contact for pricing
      9,459 SF

      Retail Space Available For Lease

      Retail spaces available from 2,000 to 9,459 square feet.
      4843-4851 N 76Th St, Milwaukee, WI 53220
      View Details
    • $22 SF/Yr
      9,500 SF

      Retail Space in Southridge Plaza

      Retail spaces available in high-traffic Southridge Plaza.
      76th St & Grange Ave, Greenfield, WI 53220
      View Details
    • $26 SF/Yr
      1,200 SF

      Retail Space on Layton Avenue

      Retail space available in the Southridge Mall trade area.
      7901 W Layton Ave, Greenfield, WI 53220
      View Details
    • Contact for pricing

      Retail Space Under New Ownership

      Retail space for lease in high-traffic Milwaukee location.
      6015 W Forest Home Ave, Milwaukee, WI 53220
      View Details
    View Listing
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    Milwaukee, WI 53220
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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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