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

    7233 Lakefield Dr Milwaukee, WI 53219-4055

    • Residential income homes
    • 3,202 SF
    • 0.25 lot acres
    OFF-MARKET
    Last Sale
    Jun 08, 2022
    $405,000
    Value Estimations
    $505,000
    Show details
    Cap Rate Potential
    2.8%
    Residential income homes
    Location Intelligence
    Property ID
    US92-1099276
    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

    • Residential income homes

    Property Details for 7233 Lakefield Dr

    Year built
    1957
    Lot size
    0.25 lot acres
    Property size
    3,202 SF
    Zone code
    RM1
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    528-1005-000
    APU
    5281005000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $535,000
      6.5%
      $495,000
      7%
      $460,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $512,000
      Market price range: $219k - $758k

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -88.0032
    Latitude
    42.9872
    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
    $6,917
    $27,800
    $278,000
    $305,800
    -
    $27,800
    $278,000
    $305,800

    Comparable in this City

    • Value Estimation by Request
      3,920 SF

      2800 2808th S 44th St, Unit 2808

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,920 SF
      2800 2808th S 44th St, Milwaukee, WI 53219-3403
      View Details
    • Value Estimation by Request
      4,556 SF

      3125 48th St

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,556 SF
      3125 48th St, Milwaukee, WI 53219-4620
      View Details
    • Value Estimation by Request
      3,070 SF

      3150 48th St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,070 SF
      3150 48th St, Milwaukee, WI 53219-4624
      View Details
    • Value Estimation
      $530,000
      2,880 SF

      2400 51st St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,880 SF
      2400 51st St, Milwaukee, WI 53219-2341
      View Details
    • Value Estimation
      $540,000
      2,684 SF

      3467 68th St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,684 SF
      3467 68th St, Milwaukee, WI 53219-4034
      View Details
    • Value Estimation
      $640,000
      3,566 SF

      2868 68th St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,566 SF
      2868 68th St, Milwaukee, WI 53219-2972
      View Details

    Similar Nearby for Sale

    • $142,000

      Well-Maintained Condo with Balcony

      Two-bedroom, two-bath condo with updated features and underground parking.
      3239 S 58Th St, Milwaukee, WI 53219
      View Details
    • $325,000
      2,108 SF

      Well-Maintained Duplex in West Allis

      Charming West Allis duplex, ideal for owner-occupancy or investment.
      2200 S 65Th St, Milwaukee, WI 53219
      View Details
    • $350,000
      1,904 SF

      Well-Maintained Duplex in Quiet Neighborhood

      Well-maintained duplex with spacious units, large backyard, and convenient location.
      6324 W Euclid Ave, Milwaukee, WI 53219
      View Details
    • $469,900
      0.12 Acres

      Two Houses on One Lot

      Two houses on one lot in West Allis, Wisconsin.
      2054 S 77Th St, Milwaukee, WI 53219
      View Details
    • $3,500,000
      60,336 SF

      6021 Lincoln Ave

      Schools • 60,336 SF
      6021 Lincoln Ave, West Allis, WI 53219
      View Details
    • $299,000
      1,568 SF

      Greenfield Commercial Building - Great Location!

      Ranch-style office, 1568 sq ft, 5 parking spaces.
      4745 Forest Home Ave, Greenfield, WI 53219
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      156,159 SF

      West Allis Commercial Space Available

      Office & Warehouse Space for Lease in West Allis, WI
      2005 54 St, West Allis, WI 53219
      View Details
    • Contact for pricing
      87,000 SF

      Electric Avenue Commerce Center

      87,000 SF Manufacturing Space Available
      4775 Electric Ave, West Milwaukee, WI 53219
      View Details
    • New
      $3,500 /Mo
      4,972 SF

      Turn-Key Commercial Space in West Allis

      Spacious commercial space with offices, warehouse, and recent upgrades.
      5408 W Electric Ave, West Allis, WI 53219
      View Details
    • $216,000
      60,336 SF

      West Allis Retail Space For Lease

      Prime West Allis location, multiple spaces available.
      6021 Lincoln Ave, West Allis, WI 53219
      View Details
    • Contact for pricing
      43,482 SF

      West Allis Industrial Space For Lease

      14,783 SF Warehouse/Manufacturing Space
      6048 Beloit Rd, West Allis, WI 53219
      View Details
    • $25 SF/Yr
      2,084 SF

      Retail Space on Miller Park

      Retail property for rent on a busy Milwaukee corridor.
      2080 Miller Park Way, West Milwaukee, WI 53219
      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.
    7233 Lakefield Dr
    Milwaukee, WI 53219-4055
    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.