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

    7401 Good Hope Rd Milwaukee, WI 53223-4618

    • Grocery and convenience stores
    • 104,365 SF
    • 9.85 lot acres
    OFF-MARKET
    Last Sale
    Jul 21, 2022
    $20,000,000
    Value Estimations
    $18,795,000
    Show details
    Cap Rate Potential
    4.5%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US92-1803495
    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

    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • ecoatm / Electronics Vending Machine
    • KrogerRoundysWisconsin0418 / Electronics Vending Machine
    • Pick 'N Save Money Services / Check Cashing
    • Western Union / Bank / Credit Union

    Property Details for 7401 Good Hope Rd

    Year built
    2005
    Lot size
    9.85 lot acres
    Property size
    104,365 SF
    Zone code
    PD
    Property type
    Grocery and convenience stores
    APN
    119-0061-000
    APU
    1190061000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $24,205,000
      ML approach
      $11,400,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $18,245,000
      6.5%
      $16,840,000
      7%
      $15,640,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $18,347,000
      Market price range: $5.09M - $19.2M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $13,270,000
      AUTO REPAIR, GARAGE
      $12,450,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -88.0027
    Latitude
    43.1473
    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
    $258,793
    $1,970,200
    $8,898,900
    $10,869,100
    -
    $1,970,200
    $8,898,900
    $10,869,100

    Comparable in this City

    • Value Estimation
      $595,000
      10,842 SF

      7500 Good Hope Rd

      FINANCIAL BUILDING • 10,842 SF
      7500 Good Hope Rd, Milwaukee, WI 53223-4623
      View Details
    • Value Estimation by Request
      3,871 SF

      8111 Brown Deer Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,871 SF
      8111 Brown Deer Rd, Milwaukee, WI 53223-1703
      View Details
    • Value Estimation
      $885,000
      28,447 SF

      7300 Champions Way

      GYM, HEALTH SPA • 28,447 SF
      7300 Champions Way, Milwaukee, WI 53223-1211
      View Details
    • Value Estimation
      $845,000
      8,729 SF

      9049 76th St

      RETAIL STORES (PERSONAL SERVICES) • 8,729 SF
      9049 76th St, Milwaukee, WI 53223-1903
      View Details
    • Value Estimation
      $620,000
      14,360 SF

      6930 76th St

      RETAIL STORES (PERSONAL SERVICES) • 14,360 SF
      6930 76th St, Milwaukee, WI 53223-5004
      View Details
    • Value Estimation
      $4,110,000
      38,276 SF

      7810 60th St

      RETAIL STORES (PERSONAL SERVICES) • 38,276 SF
      7810 60th St, Milwaukee, WI 53223
      View Details

    Similar Nearby for Sale

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      Milwaukee Retail Investment Opportunity

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    • $449,000
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    • $595,000
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      Prime Milwaukee Retail Building

      16,745 SF Bank Building - $595,000
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    • $1,800,000
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      Retail Center on 76th Street

      Well-located retail center with high visibility and traffic counts.
      7919-7961 N 76Th St, Milwaukee, WI 53223
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    • $1,025,000
      12,768 SF

      Warehouse for Sale: Brown Deer, WI

      12,768 SF Warehouse - $1,025,000
      5221 Beaver Creek Pkwy, Brown Deer, WI 53223
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    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
    • $15 SF/Yr
      50,688 SF

      Milwaukee Retail Space For Lease

      Prime Milwaukee retail space, multiple units available.
      8020 76Th St, Milwaukee, WI 53223
      View Details
    • $5 SF/Yr
      41,545 SF

      Milwaukee Warehouse - 41,545 SF

      Prime Milwaukee warehouse, single tenant, immediate occupancy.
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    • Contact for pricing
      43,560 SF

      Brown Deer Road Retail Outlot

      Prime 1-acre retail development site.
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      View Details
    • Contact for pricing
      32,000 SF

      Former Auto Dealership For Rent

      Former auto dealership with additional income from secondary building.
      8301 N 76Th St, Milwaukee, 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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    Milwaukee, WI 53223-4618
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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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