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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6138 Frst Home Ave Milwaukee, WI 53220-5600

    • Apartment buildings
    • 15,300 SF
    • 0.66 lot acres
    OFF-MARKET
    Value Estimations
    $2,205,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0688080
    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

    • Apartment buildings

    Property Details for 6138 Frst Home Ave

    Year built
    1995
    Construction
    FRAME
    Lot size
    0.66 lot acres
    Property size
    15,300 SF
    Zone code
    RM1
    Property type
    Apartment buildings
    APN
    557-1593-000
    APU
    5571593000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,375,000
      6.5%
      $2,190,000
      7%
      $2,035,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,512,000
      Market price range: $1.52M - $4.85M
      AI Estimate
      $1,917,000
      Market price range: $737k - $3.25M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,990,000
      Current use
      COMMERCIAL (GENERAL)
      $2,855,000
      Change: -4% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9898
    Latitude
    42.9762
    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
    $26,074
    $84,100
    $1,011,000
    $1,095,100
    -
    $84,100
    $1,011,000
    $1,095,100

    Comparable in this City

    • Value Estimation
      $11,520,000
      74,790 SF

      7704 Waterford Ave, Unit 7710

      APARTMENT HOUSE (5+ UNITS) • 74,790 SF
      7704 Waterford Ave, Milwaukee, WI 53220-2263
      View Details
    • Value Estimation
      $2,910,000
      19,720 SF

      3741 61st St

      APARTMENT HOUSE (5+ UNITS) • 19,720 SF
      3741 61st St, Milwaukee, WI 53220-1984
      View Details
    • Value Estimation
      $735,000
      6,800 SF

      4175 51st St

      APARTMENT HOUSE (5+ UNITS) • 6,800 SF
      4175 51st St, Milwaukee, WI 53220-3229
      View Details
    • Value Estimation
      $1,005,000
      6,800 SF

      4155 51st St

      APARTMENT HOUSE (5+ UNITS) • 6,800 SF
      4155 51st St, Milwaukee, WI 53220-3228
      View Details
    • Value Estimation
      $1,025,000
      6,912 SF

      8009 Morgan Ave

      APARTMENT HOUSE (5+ UNITS) • 6,912 SF
      8009 Morgan Ave, Milwaukee, WI 53220
      View Details
    • Value Estimation
      $780,000
      5,308 SF

      5445 Frst Home Ave

      APARTMENT HOUSE (5+ UNITS) • 5,308 SF
      5445 Frst Home Ave, Milwaukee, WI 53220-1450
      View Details

    Similar Nearby for Sale

    • $10,500,000
      62,681 SF

      Greenfield Medical Office Building

      62,681 SF Medical Office, $10.5M
      4600 Loomis Rd, Greenfield, WI 53220
      View Details
    • $1,400,000
      5,140 SF

      Milwaukee Auto Shop - Layton Ave

      Prime Greenfield location, 5,140 SF auto shop.
      7500 Layton Ave, Greenfield, WI 53220
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    • $550,000

      High Visibility Commercial Land

      Commercial land with high traffic and convenient location.
      5011 W Loomis Rd, Greenfield, WI 53220
      View Details
    • $560,000
      1.26 Acres

      Greenfield Commercial Corner Lot

      High-traffic location, development opportunity.
      4663 51St St, Greenfield, WI 53220
      View Details
    • $1,500,000
      5,000 SF

      Greenfield Medical/Wellness Office For Sale

      Excellent visibility, ideal for medical or wellness use.
      8081 W Layton Ave, Greenfield, WI 53220
      View Details
    • $375,000

      Residential Land Near Park Area

      Land with easy access and open surroundings near park.
      6201 W Waterford Ct, Milwaukee, WI 53220
      View Details

    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

      Retail Space Under New Ownership

      Retail space for lease in high-traffic Milwaukee location.
      6015 W Forest Home Ave, Milwaukee, WI 53220
      View Details
    • Contact for pricing
      45,567 SF

      Milwaukee Retail Center Investment Opportunity

      High-traffic retail space available in Milwaukee.
      6023 Forest Home Ave, Milwaukee, WI 53220
      View Details
    • $8 SF/Yr
      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
    • $18 SF/Yr
      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
      4,000 SF

      Greenfield Medical Office Space for Lease

      Brand new, 1200 sq ft medical office suite.
      6810 Layton Ave, Greenfield, WI 53220
      View Details
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    6138 Frst Home Ave
    Milwaukee, WI 53220-5600
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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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