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

    831 Michigan Ave Sheboygan, WI 53081-3437

    • Office buildings
    • 7,122 SF
    • 0.21 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-3460114
    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

    • Georgebee Home Healthcare / Home Health Care Service / Aged Care
    • Scott's Home Improvements / Hardware & Home Improvement / Interior Design

    Property Details for 831 Michigan Ave

    Year built
    1940
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.21 lot acres
    Property size
    7,122 SF
    Zone code
    BA7
    Property type
    Office buildings
    APN
    59281102760
    APU
    59281102760

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Sheboygan
    County
    Sheboygan
    State
    Wisconsin
    Longitude
    -87.7143
    Latitude
    43.7582
    CBSA code
    43100
    CBSA name
    SHEBOYGAN, 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
    2023
    $4,545
    $52,200
    $207,100
    $259,300
    -
    $53,670
    $212,930
    $266,600

    Comparable in this City

    • Value Estimation
      $965,000
      30,963 SF

      615 8th St

      OFFICE BUILDING • 30,963 SF
      615 8th St, Sheboygan, WI 53081-4463
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    • Value Estimation
      $950,000
      9,600 SF

      3425 Superior Ave

      OFFICE BUILDING • 9,600 SF
      3425 Superior Ave, Sheboygan, WI 53081-1863
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    • Value Estimation by Request
      4,288 SF

      601 5th St

      OFFICE BUILDING • 4,288 SF
      601 5th St, Sheboygan, WI 53081-4624
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    • Value Estimation by Request
      5,847 SF

      2103 Indiana Ave

      OFFICE BUILDING • 5,847 SF
      2103 Indiana Ave, Sheboygan, WI 53081-4729
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    • Value Estimation by Request
      2,400 SF

      1509 13th St

      OFFICE BUILDING • 2,400 SF
      1509 13th St, Sheboygan, WI 53081-2549
      View Details
    • Value Estimation by Request
      4,746 SF

      1214 23rd St

      OFFICE BUILDING • 4,746 SF
      1214 23rd St, Sheboygan, WI 53081-5012
      View Details

    Similar Nearby for Sale

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      2,352 SF

      Sheboygan Office Building For Sale

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    • $350,000
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      Sheboygan Office Building - Owner/User

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    • $1,100,384
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      Sheboygan Office Building Investment

      Prime WI Office, 8,200 SF, 7.42% Cap Rate
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    • Contact for pricing
      12,295 SF

      Downtown Sheboygan Office Space Available

      Prime downtown location with modern offices and classic architectural details.
      701 N 8Th St, Sheboygan, WI 53081
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    • $3,299,000
      61,204 SF

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      Distribution properties • 61,204 SF
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    • $3,400,000
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      Sheboygan Gas Station and Restaurant

      Centrally located gas station, convenience store, and restaurant for sale.
      1441 N 26Th St, Sheboygan, WI 53081
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    Similar Nearby for Lease

    • Contact for pricing
      12,295 SF

      Downtown Sheboygan Office Space

      Historic Charm, Modern Amenities
      701 8Th St, Sheboygan, WI 53081
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    • $19 SF/Yr
      29,277 SF

      Prime Medical Office Building on Hospital Campus

      29,277 SF Single-Tenant Healthcare Office
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    • $5 SF/Yr
      6,033 SF

      Sheboygan Office Space Available

      Flexible workspace solutions in Wisconsin.
      703 8Th St, Sheboygan, WI 53081
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    • Contact for pricing
      766 SF

      Meijer In-Store Retail Space

      766 sq ft, prime retail location
      924 Taylor Dr, Sheboygan, WI 53081
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    • Contact for pricing
      30,994 SF

      Sheboygan Retail Space Available

      Prime Retail Space, Flexible Sizes, High Visibility
      2811 Business Dr, Sheboygan, WI 53081
      View Details
    • $5 SF/Yr
      100,800 SF

      Sheboygan Industrial Space Available

      Modern 100,800 SF warehouse, divisible.
      3327 Horizon Dr, Sheboygan, WI 53081
      View Details

    Property Visit Statistics

    • Visits by month
      7.2k
    • Visitors by month
      5.2k
    • Avg Time on site
      12 min
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    831 Michigan Ave
    Sheboygan, WI 53081-3437
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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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