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    605 E Lyon St Milwaukee, WI 53202
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    Property profile & analytics

    605 E Lyon St, Milwaukee, WI 53202

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    • Grocery and convenience stores
    • 58,435 SF
    • 4.15 lot acres
    For Sale
    $15,520,000
    View Listing →
    Milwaukee Retail Space For Sale For Sale
    $15,520,000

    Milwaukee Retail Space For Sale

    Retail property in Milwaukee's lower east side with ample parking.

    605 E Lyon St |, Milwaukee, WI 53202
    View Listing
    Property ID
    US92-0576183
    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
    Cap Rate Potential
    2.6%
    Grocery and convenience stores
    Location Intelligence

    Current Use by Public Records

    • Pick 'N Save Money Services / Check Cashing
    • KrogerRoundysWisconsin0868 / Electronics Vending Machine
    • ecoatm / Electronics Vending Machine
    • Coinstar Kiosk | Bitcoin ATM / Atm / Currency Exchange Service
    • East Pointe Market Place / Grocery & Convenience Store / Food Market

    Property Details for 605 E Lyon St

    Year built
    1994
    Lot size
    4.15 lot acres
    Zone code
    C9C
    Property type
    Grocery and convenience stores
    APN
    360-1281-000
    APU
    3601281000

    Description

    East Pointe Marketplace, located at 605 E Lyon St in Milwaukee, WI 53202, offers a prime retail opportunity within a vibrant commercial center in Milwaukee County. This multi-tenant property boasts a total of 57,000 square feet, with a currently available space ranging from 2,047 to 2,074 contiguous square feet. The available space totals 4,121 square feet. The property is ideally suited for a variety of retail businesses seeking high visibility and convenient access. Ample street parking is available for customers and employees, ensuring ease of access for patrons. The property's location in Milwaukee provides excellent access to a dense population base and strong consumer traffic. This is an exceptional opportunity to establish or expand a retail presence in a thriving Milwaukee neighborhood. The minimum divisible space is 2,047 square feet, offering flexibility for businesses of varying sizes. The property is classified as retail commercial space and is ready for immediate occupancy. Interested parties should inquire about lease terms and availability. The property is situated in Milwaukee County, Wisconsin.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $11,385,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $10,215,000
      6.5%
      $9,430,000
      7%
      $8,755,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $11,568,000
      Market price range: $3.37M - $11.6M

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9049
    Latitude
    43.0488
    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
    $291,480
    $5,422,000
    $6,819,900
    $12,241,900
    -
    $5,422,000
    $6,819,900
    $12,241,900

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      1940 Farwell Ave, Unit 1946

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      2202 Bartlett Ave

      RETAIL STORES (PERSONAL SERVICES)
      2202 Bartlett Ave, Milwaukee, WI 53202-1022
      View Details
    • Value Estimation
      $575,000
      3,125 SF

      234 Broadway, Unit 100

      RETAIL STORES (PERSONAL SERVICES)
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      View Details

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      Milwaukee Retail Space For Sale

      Retail property in Milwaukee's lower east side with ample parking.
      605 E Lyon St, Milwaukee, WI 53202
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    Milwaukee, WI 53202
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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.

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