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

    7120 Good Hope Rd Milwaukee, WI 53223-4611

    • Office buildings
    • 5,345 SF
    • 0.53 lot acres
    OFF-MARKET
    Last Sale
    Jul 26, 2022
    $590,000
    Value Estimations
    $615,000
    Show details
    Cap Rate Potential
    9.1%
    Office buildings
    Location Intelligence
    Property ID
    US92-1107920
    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

    • MongTeng Food Market / (Bike/Boat/Book/etc) Store / Grocery & Convenience Store

    Property Details for 7120 Good Hope Rd

    Year built
    1984
    Lot size
    0.53 lot acres
    Property size
    5,345 SF
    Zone code
    CS
    Property type
    Office buildings
    APN
    106-0052-000
    APU
    1060052000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $715,000
      ML approach
      $730,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $456,000
      Market price range: $225k - $657k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $425,000
      Current use
      RESTAURANT
      $680,000
      Change: +61% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $640,000
      Change: +51% Conversion: Difficult
      RETAIL STORES
      $575,000
      Change: +36% Conversion: Moderate
      MEDICAL BUILDING
      $550,000
      Change: +30% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $495,000
      Change: +17% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $465,000
      Change: +9% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -88
    Latitude
    43.1492
    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
    $8,400
    $74,900
    $277,900
    $352,800
    -
    $74,900
    $277,900
    $352,800

    Comparable in this City

    • Value Estimation by Request
      7,528 SF

      8585 76th Pl

      OFFICE BUILDING (MULTI-STORY) • 7,528 SF
      8585 76th Pl, Milwaukee, WI 53223-2633
      View Details
    • Value Estimation
      $585,000
      12,470 SF

      8222 Calumet Rd

      OFFICE BUILDING • 12,470 SF
      8222 Calumet Rd, Milwaukee, WI 53223-3808
      View Details
    • Value Estimation by Request
      8,540 SF

      7817 Brown Deer Rd

      OFFICE BUILDING • 8,540 SF
      7817 Brown Deer Rd, Milwaukee, WI 53223-1902
      View Details
    • Value Estimation
      $13,300,000
      184,712 SF

      7800 Brown Deer Rd, Unit 7810

      OFFICE BUILDING (MULTI-STORY) • 184,712 SF
      7800 Brown Deer Rd, Milwaukee, WI 53223-1912
      View Details
    • Value Estimation by Request
      10,171 SF

      6933 Brown Deer Rd

      OFFICE BUILDING (MULTI-STORY) • 10,171 SF
      6933 Brown Deer Rd, Milwaukee, WI 53223-2108
      View Details
    • Value Estimation
      $26,285,000
      333,971 SF

      6635 Champions Way, Unit 7301

      OFFICE BUILDING (MULTI-STORY) • 333,971 SF
      6635 Champions Way, Milwaukee, WI 53223-1201
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      16,745 SF

      Office Building on Brown Deer

      Office building with excellent visibility and access on Brown Deer.
      7901 W Brown Deer Rd, Milwaukee, WI 53223
      View Details
    • $1,600,000
      6,152 SF

      Brown Deer Multi-Use Business Park

      Versatile Industrial & Office Space For Sale
      9011-9045 Deerwood Dr, Brown Deer, WI 53223
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    • $1,200,000
      1,924 SF

      Brown Deer Business Park: Building 4

      Milwaukee industrial space for sale. Flexible zoning, great access.
      9050-9088 Deerbrook Trl, Milwaukee, WI 53223
      View Details
    • Contact for pricing
      5,280 SF

      Former Medical Office on Good Hope

      Redevelopment or owner-user opportunity in Milwaukee.
      7810 W Good Hope Rd, Milwaukee, WI 53223
      View Details
    • $2,000,000
      19,839 SF

      Milwaukee Shopping Center Investment

      19,839 SF, Owner-User Opportunity
      7919 76Th St, Milwaukee, WI 53223
      View Details
    • $1,750,000
      32,468 SF

      Brown Deer Industrial Property

      Versatile 32,468 SF building, ideal for owner-occupancy or investment.
      9000 Deerbrook Trl, Brown Deer, WI 53223
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      19,839 SF

      Milwaukee Creative Office Complex

      High-visibility retail/office space for lease or sale
      7919 76Th St, Milwaukee, WI 53223
      View Details
    • $4 SF/Yr
      31,329 SF

      Deerbrook Trail Office/Industrial Space

      Milwaukee Flex Space: 1,924 - 8,207 SF Available
      9050-9088 Deerbrook Trl, Milwaukee, WI 53223
      View Details
    • Contact for pricing
      27,800 SF

      Prime Brown Deer Office/Warehouse Space

      2,400 SF Available - Flexible Layout
      9055 51 St, Brown Deer, WI 53223
      View Details
    • $4 SF/Yr
      40,666 SF

      Deerwood Drive Industrial Space

      Versatile Brown Deer Office/Warehouse Space
      9011-9045 Deerwood Dr, Brown Deer, WI 53223
      View Details
    • $5 SF/Yr
      79,400 SF

      Deerbrook Trail Executive Offices

      Modern Flex Space, Multiple Sizes Available
      9071 Deerbrook Trl, Brown Deer, WI 53223
      View Details
    • $7 SF/Yr
      12,768 SF

      Brown Deer Warehouse - 12,768 SF

      Spacious warehouse, ample parking, ideal location.
      5221 Beaver Creek Pkwy, Brown Deer, WI 53223
      View Details
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    7120 Good Hope Rd
    Milwaukee, WI 53223-4611
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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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