Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    611 Wisconsin Ave Milwaukee, WI 53202

    • Hotels
    • 172,609 SF
    • 0.96 lot acres
    For Lease
    View listing
    $7 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0599287
    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

    • DoubleTree by Hilton Hotel Milwaukee Downtown / Hotel
    • Neviaser Investments / Investment Service
    • JUSDA America Corporate Office / Logistics Service
    • Greg M. McPherson / Financial Planner
    • Ixonia Bank / Financial Institution

    Property Details for 611 Wisconsin Ave

    Year built
    1969
    Lot size
    0.96 lot acres
    Property size
    172,609 SF
    Zone code
    C9F(A)
    Property type
    Hotels
    Property subtype
    Motels
    APN
    361-0714-111
    APU
    3610714111

    Description

    This exceptional seven-story Class B office building, located at 611 E Wisconsin Avenue in Milwaukee, Wisconsin, offers a variety of flexible office spaces ideal for businesses of all sizes. Built in 1964, the building boasts a total of 145,545 square feet, with 105,291 square feet currently available. Suites range from a minimum of 2,189 square feet to a maximum contiguous space of 19,516 square feet, providing ample room for expansion or consolidation. The property features convenient amenities including underground heated parking and reserved surface parking, ensuring easy access for employees and clients. On-site dining facilities add to the convenience and appeal of this location. Situated in the heart of downtown Milwaukee, this building provides excellent visibility and accessibility, with easy access to major transportation routes and a vibrant urban environment. The multiple tenancy structure offers a diverse and dynamic atmosphere. This is a unique opportunity to secure prime office space in a well-maintained building with a wealth of desirable features. The building is located in Milwaukee County, Wisconsin, and has a zip code of 53202.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,270,000
      6.5%
      $5,790,000
      7%
      $5,375,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,440,000
      Market price range: $1.70M - $7.56M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $4,585,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $7,505,000
      Change: +64% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $7,270,000
      Change: +59% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9194
    Latitude
    43.0382
    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
    $426,075
    $1,678,200
    $16,216,600
    $17,894,800
    -
    $1,678,200
    $16,216,600
    $17,894,800

    Comparable in this City

    • Value Estimation
      $10,625,000
      356,540 SF

      333 Kilbourn Ave

      HOTEL/MOTEL • 356,540 SF
      333 Kilbourn Ave, Milwaukee, WI 53203-1507
      View Details
    • Value Estimation
      $15,230,000
      491,759 SF

      509 Wisconsin Ave

      HOTEL/MOTEL • 491,759 SF
      509 Wisconsin Ave, Milwaukee, WI 53203-2001
      View Details
    • Value Estimation
      $6,980,000
      180,407 SF

      420 Juneau Ave

      HOTEL/MOTEL • 180,407 SF
      420 Juneau Ave, Milwaukee, WI 53203-1106
      View Details
    • Value Estimation
      $3,000,000
      80,708 SF

      503 Plankinton Ave, Unit 521

      HOTEL • 80,708 SF
      503 Plankinton Ave, Milwaukee, WI 53203-2910
      View Details
    • Value Estimation
      $11,180,000
      60,891 SF

      710 Martin L King Jr Dr

      HOTEL • 60,891 SF
      710 Martin L King Jr Dr, Milwaukee, WI 53203
      View Details
    • Value Estimation
      $4,350,000
      112,472 SF

      300 Michigan St

      HOTEL • 112,472 SF
      300 Michigan St, Milwaukee, WI 53203-2800
      View Details

    Similar Nearby for Sale

    • $1,750,000
      24,000 SF

      Prime Milwaukee Medical Office Building

      Historic building, renovated 2007, 24,000 SF
      820 Plankinton Ave, Milwaukee, WI 53203
      View Details
    • Contact for pricing
      1.84 Acres

      Westown Development Opportunity

      1.84-Acre Residential Development Site
      522 2Nd St, Milwaukee, WI 53203
      View Details
    • Contact for pricing

      Prime Retail in Entertainment District

      Two-story retail opportunity in Milwaukee's Entertainment District.
      333 W State St, Milwaukee, WI 53203
      View Details
    • Contact for pricing
      573 SF

      Retail Space Near Milwaukee Landmarks

      Retail property near The Avenue, Wisconsin Center, and Deer District.
      310 W Wisconsin Ave, Milwaukee, WI 53203
      View Details
    • $1,750,000
      24,000 SF

      Milwaukee Office Building For Sale

      Office building with 24,000 square feet of space.
      814-820 N Plankinton Ave, Milwaukee, WI 53203
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      2,000 SF

      Retail Space in Entertainment District

      Retail space in Milwaukee's entertainment district, near Deer District.
      823 N 2Nd St, Milwaukee, WI 53203
      View Details
    • Contact for pricing
      81,000 SF

      Downtown Milwaukee Retail Space

      Prime Riverfront Retail/Restaurant Opportunity
      740 Plankinton Ave, Milwaukee, WI 53203
      View Details
    • $16 SF/Yr
      28,603 SF

      Connected Seven-Story Office Buildings

      Two connected seven-story office buildings with flexible layouts.
      507-525 E Michigan St, Milwaukee, WI 53203
      View Details
    • $14 SF/Yr
      5,461 SF

      Class A Mixed-Use Office

      240,000 SF Class A mixed-use office in downtown Milwaukee.
      600 N Plankinton Ave, Milwaukee, WI 53203
      View Details
    • Contact for pricing
      16,225 SF

      Downtown Milwaukee Retail Space

      Prime Milwaukee retail, multiple units available
      275 Wisconsin Ave, Milwaukee, WI 53203
      View Details
    • Contact for pricing
      18,000 SF

      Journal Commons: Historic Retail Space

      Prime Milwaukee Retail, 5,000-18,000 SF
      333 State St, Milwaukee, WI 53203
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    611 Wisconsin Ave
    Milwaukee, WI 53202
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.