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    Property profile & analytics

    826 Plankinton Ave Milwaukee, WI 53203

    • Office buildings
    • 25,000 SF
    • 0.11 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Last Sale
    Nov 30, 2022
    $1,850,000
    Value Estimations
    $2,230,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0581030
    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

    • Bel Air Growth Partners / Private Equity Firm
    • Jon Phillips / Pharmacy
    • Juan Lozano / Pharmacy
    • Lynne Broydrick Group LLC / Public Relations Firm

    Property Details for 826 Plankinton Ave

    Year built
    1900
    Lot size
    0.11 lot acres
    Property size
    25,000 SF
    Zone code
    C9E
    Property type
    Office buildings
    APN
    361-0632-000
    APU
    3610632000

    Description

    This stunning 25,000 square foot, six-story Cream City brick office building located at 826 N Plankinton Ave in Milwaukee, WI 53203 offers exceptional executive and creative office space. Built in 1900, this historic property boasts multiple tenancy options with a minimum divisible space of 3,249 square feet and a maximum contiguous space of 3,249 square feet. Currently, 6,498 square feet of space is available. The building sits on a 0.06-acre lot in Milwaukee County. The property is ideally suited for businesses seeking a prestigious address in a vibrant downtown location. Parking is readily available in nearby structures and surface lots. This unique opportunity combines the charm of a historic building with the functionality of modern office space, providing a distinctive and desirable work environment. The building's character and location make it an excellent choice for businesses seeking a high-profile presence in Milwaukee's dynamic downtown core. Inquire today to learn more about the available spaces and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,240,000
      ML approach
      $2,215,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,945,000
      Market price range: $1.05M - $3.07M

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9125
    Latitude
    43.0408
    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
    $35,594
    $244,000
    $1,250,900
    $1,494,900
    -
    $244,000
    $1,250,900
    $1,494,900

    Comparable in this City

    • Value Estimation
      $1,000,000
      116,000 SF

      1104 Dr Martin Luther King Jr Dr

      OFFICE BUILDING • 116,000 SF
      1104 Dr Martin Luther King Jr Dr, Milwaukee, WI 53203
      View Details
    • Value Estimation
      $1,890,000
      24,000 SF

      814 Plankinton Ave, Unit 820

      OFFICE BUILDING • 24,000 SF
      814 Plankinton Ave, Milwaukee, WI 53203-1802
      View Details
    • Value Estimation
      $10,275,000
      370,160 SF

      551 5th St

      OFFICE BUILDING • 370,160 SF
      551 5th St, Milwaukee, WI 53203-1107
      View Details
    • Value Estimation
      $430,000
      11,254 SF

      350 Saint Paul Ave, Unit 7

      OFFICE BUILDING • 11,254 SF
      350 Saint Paul Ave, Milwaukee, WI 53203-3006
      View Details
    • Value Estimation by Request
      414,410 SF

      105 Michigan St, Unit 111

      OFFICE BUILDING • 414,410 SF
      105 Michigan St, Milwaukee, WI 53203-2903
      View Details
    • Value Estimation
      $820,000
      120,651 SF

      211 Wisconsin Ave, Unit 219

      OFFICE BUILDING • 120,651 SF
      211 Wisconsin Ave, Milwaukee, WI 53203-2303
      View Details

    Similar Nearby for Sale

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      Prime Milwaukee Medical Office Building

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      1.84 Acres

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      Prime Retail in Entertainment District

      Two-story retail opportunity in Milwaukee's Entertainment District.
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    Similar Nearby for Lease

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      Cream City Brick Office Space, Milwaukee

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      Downtown Office Space for Rent

      Prime downtown Milwaukee office space with convenient freeway and transit access.
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      Historic Germania Building Office Suite

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    Milwaukee, WI 53203
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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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