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

    7810 W Good Hope Rd Milwaukee, WI 53223

    • Medical offices
    • 5,928 SF
    • 1.40 lot acres
    For Sale
    View listing
    $1,599,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0591389
    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

    • Kwesi Grant-Acquah / Internist
    • Okusanya Adedapo F MD / Family Practice Physician
    • Omni Family Medical Clinic / Medical Clinic
    • Lab Corporation Dynacare Laboratories / Medical Laboratory
    • Faison Barbara-Ann MD / Doctor

    Property Details for 7810 W Good Hope Rd

    Year built
    1985
    Lot size
    1.40 lot acres
    Property size
    5,928 SF
    Zone code
    CS
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    107-0302-000
    APU
    1070302000

    Description

    This exceptional 5,280-square-foot medical office building is available for lease at 7810 W Good Hope Rd in Milwaukee. The property features a recently renovated interior with fresh paint and new flooring throughout. Natural light floods the space thanks to strategically placed skylights, complemented by track and chandelier lighting. The efficient racetrack layout includes five individual offices, eight exam rooms, a dedicated lab room, a convenient breakroom, and ample storage space. This single-tenant building is ideally situated along West Good Hope Road, a high-traffic area boasting an impressive 23,300 average annual daily traffic (AADT). The property offers the significant advantage of ample on-site parking for staff and patients, ensuring convenient access. Further enhancing its visibility and appeal, monument signage opportunities are available. This well-maintained and updated medical office building presents a fantastic opportunity for a medical practice seeking a move-in ready space with excellent visibility and accessibility in a thriving Milwaukee location. The building's functional design and desirable amenities make it an ideal setting for a variety of medical practices. The combination of high traffic counts, ample parking, and prominent signage potential ensures strong visibility and accessibility for patients.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $410,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $459,000
      Market price range: $302k - $883k
      AI Estimate
      $344,000
      Market price range: $213k - $718k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $610,000
      Current use
      RETAIL STORES
      $640,000
      Change: +5% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $550,000
      Change: -10% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $515,000
      Change: -16% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -88.0083
    Latitude
    43.1493
    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
    $15,138
    $213,500
    $422,300
    $635,800
    -
    $213,500
    $422,300
    $635,800

    Comparable in this City

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    • Value Estimation
      $505,000
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      7701 Clinton Ave

      MEDICAL BUILDING • 8,335 SF
      7701 Clinton Ave, Milwaukee, WI 53223-4527
      View Details
    • Value Estimation
      $540,000
      9,624 SF

      7906 7910th N 76th St

      MEDICAL BUILDING • 9,624 SF
      7906 7910th N 76th St, Milwaukee, WI 53223
      View Details
    • Value Estimation
      $930,000
      41,483 SF

      7878 76th St

      MEDICAL BUILDING • 41,483 SF
      7878 76th St, Milwaukee, WI 53223-3914
      View Details
    • Value Estimation
      $930,000
      75,221 SF

      6735 Bradley Rd

      HOMES (RETIRED, NURSING) • 75,221 SF
      6735 Bradley Rd, Milwaukee, WI 53223-3325
      View Details
    • Value Estimation
      $830,000
      83,160 SF

      6800 76th St

      HOMES (RETIRED, NURSING) • 83,160 SF
      6800 76th St, Milwaukee, WI 53223-5002
      View Details

    Similar Nearby for Sale

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    7810 W Good Hope Rd
    Milwaukee, WI 53223
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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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