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

    7602 W Lisbon Ave Milwaukee, WI 53222

    • Bars
    • 1,848 SF
    • 0.51 lot acres
    For Sale
    View listing
    $775,000
    Last Sale
    Jul 25, 2022
    $535,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-1150237
    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

    • Cool Kids Italian Water Ice / Ice Cream Shop
    • 750 Plus / Credit Reporting Agency
    • A & J Grill / American Restaurant

    Property Details for 7602 W Lisbon Ave

    Year built
    1953
    Lot size
    0.51 lot acres
    Property size
    1,848 SF
    Zone code
    LB2
    Property type
    Bars
    Property subtype
    Pubs
    APN
    292-9988-000
    APU
    2929988000

    Description

    This exceptional investment opportunity presents a unique blend of commercial and residential properties situated on a sizable 0.8-acre lot at the highly visible northwest corner of 76th Street and Lisbon Avenue in Milwaukee, Wisconsin. The property encompasses two buildings: a freestanding restaurant built in 1953, constructed of concrete block, and a single-family bungalow built in 1929, offering 3 bedrooms and 2 bathrooms. The restaurant boasts approximately 1,848 to 2,500 square feet of space and provides ample parking for 18 vehicles. The combined property features a substantial street frontage, boasting 231 feet along 76th Street and 198 feet along Lisbon Avenue, ensuring excellent visibility and accessibility. The property is zoned LB-2. The parcel includes two APNs: 2929988000 and 2929989000. Combined 2023 property taxes totaled $11,700.23. This presents a rare chance to acquire a substantial property in a desirable Milwaukee location with significant development potential. The existing structures offer immediate income potential, while the expansive lot size allows for future expansion or redevelopment opportunities. This is an ideal investment for both seasoned and emerging investors seeking a high-impact property in a thriving Milwaukee neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $650,000
      ML approach
      $615,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -88.0079
    Latitude
    43.0785
    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
    $5,976
    $108,400
    $142,600
    $251,000
    -
    $108,400
    $142,600
    $251,000

    Comparable in this City

    • Value Estimation
      $365,000
      3,894 SF

      3717 76th St

      BAR, TAVERN • 3,894 SF
      3717 76th St, Milwaukee, WI 53222-3001
      View Details
    • Value Estimation
      $395,000
      15,763 SF

      7718 7720th W Burleigh St

      RESTAURANT • 15,763 SF
      7718 7720th W Burleigh St, Milwaukee, WI 53222
      View Details
    • Value Estimation
      $325,000
      2,234 SF

      7603 Burleigh St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,234 SF
      7603 Burleigh St, Milwaukee, WI 53222-5001
      View Details
    • Value Estimation
      $385,000
      2,609 SF

      9230 Capitol Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,609 SF
      9230 Capitol Dr, Milwaukee, WI 53222-1533
      View Details
    • Value Estimation
      $325,000
      1,653 SF

      7604 Burleigh St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,653 SF
      7604 Burleigh St, Milwaukee, WI 53222-5002
      View Details
    • Value Estimation
      $1,100,000
      5,062 SF

      7822 Capitol Dr

      RESTAURANT • 5,062 SF
      7822 Capitol Dr, Milwaukee, WI 53222-2016
      View Details

    Similar Nearby for Sale

    • $775,000
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      Restaurant with Large Parking Lot

      Restaurant property with ample parking on 0.5 acres.
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    • $439,000
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      View Details
    • Contact for pricing
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      View Details
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    Milwaukee, WI 53222
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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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