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

    88th Cleveland Ave Menomonee Falls, WI 53051-2238

    • Apartment buildings
    • 4,653 SF
    • 0.19 lot acres
    OFF-MARKET
    Last Sale
    May 16, 2023
    $860,000
    Value Estimations
    $850,000
    Show details
    Cap Rate Potential
    5%
    Apartment buildings
    Location Intelligence
    Property ID
    US92-0897232
    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

    • Apartment buildings

    Property Details for 88th Cleveland Ave

    Year built
    1959
    Lot size
    0.19 lot acres
    Property size
    4,653 SF
    Zone code
    B
    Property type
    Apartment buildings
    APN
    MNFV0007031
    APU
    MNFV0007031

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $990,000
      ML approach
      $955,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $825,000
      6.5%
      $760,000
      7%
      $705,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $672,000
      Market price range: $421k - $1.12M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $675,000
      Current use
      OFFICE BUILDING
      $945,000
      Change: +40% Conversion: Moderate
      RETAIL STORES
      $590,000
      Change: -12% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $575,000
      Change: -14% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Menomonee Falls
    County
    Waukesha
    State
    Wisconsin
    Longitude
    -88.0976
    Latitude
    43.1786
    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
    2023
    $4,477
    $74,000
    $272,100
    $346,100
    -
    $0.00
    $0.00
    $354,800

    Comparable in this City

    • Value Estimation
      $4,810,000
      60,025 SF

      175th Wildwood Dr

      APARTMENT HOUSE (5+ UNITS) • 60,025 SF
      175th Wildwood Dr, Menomonee Falls, WI 53051-4141
      View Details
    • Value Estimation
      $17,225,000
      154,293 SF

      77th Lk Park Dr

      APARTMENT HOUSE (5+ UNITS) • 154,293 SF
      77th Lk Park Dr, Menomonee Falls, WI 53051-4188
      View Details
    • Value Estimation
      $7,230,000
      71,247 SF

      147th Northpoint Dr

      APARTMENT HOUSE (5+ UNITS) • 71,247 SF
      147th Northpoint Dr, Menomonee Falls, WI 53051-4322
      View Details
    • Value Estimation
      $2,045,000
      16,488 SF

      180th Town Hall Rd

      APARTMENT HOUSE (5+ UNITS) • 16,488 SF
      180th Town Hall Rd, Menomonee Falls, WI 53051-2533
      View Details
    • Value Estimation
      $3,730,000
      30,450 SF

      80th Appleton Ave

      APARTMENT HOUSE (5+ UNITS) • 30,450 SF
      80th Appleton Ave, Menomonee Falls, WI 53051-3880
      View Details
    • Value Estimation
      $1,100,000
      8,280 SF

      166th Grand Ave

      APARTMENT HOUSE (5+ UNITS) • 8,280 SF
      166th Grand Ave, Menomonee Falls, WI 53051-2175
      View Details

    Similar Nearby for Sale

    • $650,000

      Four-Unit Building Near Downtown

      Four-unit building near shops, restaurants, and Bugline Trail.
      W166N9108 Grand Ave, Menomonee Falls, WI 53051
      View Details
    • $484,900

      Stone Haven Split Ranch Duplex

      Stunning side-by-side split ranch with open-concept design and modern amenities.
      W144N4822 Stone Dr, Menomonee Falls, WI 53051
      View Details
    • $379,000
      0.81 Acres

      Menomonee Falls Duplex on Large Lot

      Well-maintained duplex on large lot in desirable Menomonee Falls location.
      N56w18773 Silver Spring Dr, Menomonee Falls, WI 53051
      View Details
    • $249,900
      7.24 Acres

      7.244 Acres Silver Spring Dr. Land

      Prime Sussex, WI development land. Residential & commercial potential.
      0 Silver Spring Dr, Menomonee Falls, WI 53051
      View Details
    • $450,000
      7.88 Acres

      Prime Menomonee Falls Industrial Land

      7.88 Acres, Heavy Industrial Zoning
      W137N9237 Wi-145, Menomonee Falls, WI 53051
      View Details
    • Contact for pricing
      4.00 Acres

      Menomonee Falls Commercial Land

      Four-acre outlot, prime retail location.
      W180N9393 Premier Ln, Menomonee Falls, WI 53051
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      46,371 SF

      Prime Retail Space, Waukesha County

      High-visibility corner store, 4,177 sq ft available.
      n72w12727 Good Hope Rd, Menomonee Falls, WI 53051
      View Details
    • $6 SF/Yr
      23,500 SF

      Executive Office & Warehouse Space

      Prime Waukesha County Location, 3,200 SF Available
      W134 4949-4989 Campbell Dr, Menomonee Falls, WI 53051
      View Details
    • $12 SF/Yr
      11,675 SF

      Appleton Ave Office Suites Available

      Class B Office Space, Waukesha County
      n94w17900 Appleton Ave, Menomonee Falls, WI 53051
      View Details
    • $15 SF/Yr
      4,084 SF

      Retail Space in Menomonee Falls

      Retail space available for lease in Menomonee Falls, WI.
      15560 Silver Spring Dr, Menomonee Falls, WI 53051
      View Details
    • $6 SF/Yr
      72,253 SF

      Menomonee Falls Warehouse Space Available

      Warehouse space featuring bonus area and convenient dock doors.
      9251 Fountain Blvd, Menomonee Falls, WI 53051
      View Details
    • Contact for pricing
      45,973 SF

      Menomonee Falls Flex Space Available

      6,855 SF Industrial Flex Unit in WI
      N93 Whittaker Way, Menomonee Falls, WI 53051
      View Details
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    88th Cleveland Ave
    Menomonee Falls, WI 53051-2238
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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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