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    Property profile & analytics

    6115 13th St Milwaukee, WI 53221-5190

    • Apartment buildings
    • 11,000 SF
    • 0.58 lot acres
    OFF-MARKET
    Value Estimations
    $1,725,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-1183284
    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

    • Hotel / Hotel & Motel

    Property Details for 6115 13th St

    Year built
    1969
    Lot size
    0.58 lot acres
    Property size
    11,000 SF
    Zone code
    RM2
    Property type
    Apartment buildings
    APN
    689-0405-100
    APU
    6890405100

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,745,000
      6.5%
      $1,610,000
      7%
      $1,495,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,051,000
      Market price range: $968k - $3.13M
      AI Estimate
      $1,514,000
      Market price range: $532k - $2.36M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,040,000
      Current use
      COMMERCIAL (GENERAL)
      $1,855,000
      Change: -9% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9302
    Latitude
    42.9338
    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
    $22,062
    $57,800
    $868,800
    $926,600
    -
    $57,800
    $868,800
    $926,600

    Comparable in this City

    • Value Estimation
      $2,135,000
      10,508 SF

      6036 27th St

      APARTMENT HOUSE (5+ UNITS) • 10,508 SF
      6036 27th St, Milwaukee, WI 53221-4852
      View Details
    • Value Estimation
      $15,870,000
      221,720 SF

      4133 13th St

      APARTMENT HOUSE (5+ UNITS) • 221,720 SF
      4133 13th St, Milwaukee, WI 53221
      View Details
    • Value Estimation
      $30,130,000
      188,328 SF

      2802 Howard Ave

      APARTMENT HOUSE (5+ UNITS) • 188,328 SF
      2802 Howard Ave, Milwaukee, WI 53221-1282
      View Details
    • Value Estimation
      $4,645,000
      30,004 SF

      1351 Edgerton Ave

      APARTMENT HOUSE (5+ UNITS) • 30,004 SF
      1351 Edgerton Ave, Milwaukee, WI 53221
      View Details
    • Value Estimation by Request
      31,114 SF

      2100 College Ave, Unit 2200

      APARTMENT HOUSE (5+ UNITS) • 31,114 SF
      2100 College Ave, Milwaukee, WI 53221-5155
      View Details
    • Value Estimation
      $2,120,000
      12,970 SF

      6044 27th St

      APARTMENT HOUSE (5+ UNITS) • 12,970 SF
      6044 27th St, Milwaukee, WI 53221-4851
      View Details

    Similar Nearby for Sale

    • New
      $314,900
      0.15 Acres

      Move-in Ready Milwaukee Two-Family Home

      Two-family home with new flooring, granite countertops, spacious backyard.
      3622 S 23Rd St, Milwaukee, WI 53221
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    • $375,000
      0.20 Acres

      Greenfield Duplex with Private Yard

      Duplex in a fantastic location with generous storage and updates.
      6154 S 42Nd St, Greenfield, WI 53221
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      W Loomis Rd, Milwaukee, WI 53221
      View Details
    • Contact for pricing

      Greenfield Shopping Center For Sale

      63,340 SF neighborhood shopping center in Greenfield, Wisconsin.
      6201 South 27Th St, Greenfield, WI 53221
      View Details
    • Contact for pricing

      32.131 Acres Land Available

      32.131 acres of land for sale.
      813 W College Ave, Milwaukee, WI 53221
      View Details
    • Contact for pricing
      113,747 SF

      Former Grocery Store Available

      Former Festival Foods location for lease or sale.
      4777 S 27Th St, Greenfield, WI 53221
      View Details

    Similar Nearby for Lease

    • $3,000 /Mo
      2,000 SF

      High-Visibility Milwaukee Commercial Space

      Versatile 2,000 sq ft space ideal for professional services.
      5022 S 27Th St, Milwaukee, WI 53221
      View Details
    • Contact for pricing

      New Mixed-Use Campus Sublease

      Class A medical sublease opportunity in Greenfield, Wisconsin.
      4300 W Layton Ave, Greenfield, WI 53221
      View Details
    • Contact for pricing

      Premier Medical Office Space Available

      Medical office space for lease in Greenfield, Wisconsin.
      4131 W Loomis Rd, Greenfield, WI 53221
      View Details
    • Contact for pricing
      3,600 SF

      Retail Space in High-Traffic Area

      Retail space available in established commercial corridor with high visibility.
      3545-3557 S 27Th St, Milwaukee, WI 53221
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space on High-Traffic Corner

      Retail space with high visibility at a signalized intersection.
      4715 S 27Th St, Greenfield, WI 53221
      View Details
    • Contact for pricing
      122,345 SF

      Industrial Land for Lease

      Industrial land with PUD zoning and controlled access.
      W Coldspring Rd, Greenfield, WI 53221
      View Details
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    6115 13th St
    Milwaukee, WI 53221-5190
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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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