Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8960 Michele St Milwaukee, WI 53224-1958

    • Apartment buildings
    • 6,720 SF
    • 1.21 lot acres
    OFF-MARKET
    Value Estimations
    $705,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0618677
    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 8960 Michele St

    Year built
    1977
    Construction
    FRAME
    Lot size
    1.21 lot acres
    Property size
    6,720 SF
    Zone code
    PD
    Property type
    Apartment buildings
    APN
    034-0908-000
    APU
    340908000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,045,000
      6.5%
      $965,000
      7%
      $895,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $870,000
      Current use
      RESTAURANT
      $855,000
      Change: -2% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $800,000
      Change: -8% Conversion: Difficult
      RETAIL STORES
      $725,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -88.0297
    Latitude
    43.1819
    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
    $12,153
    $35,500
    $474,900
    $510,400
    -
    $35,500
    $474,900
    $510,400

    Comparable in this City

    • Value Estimation by Request
      5.19 Acres

      7777 99th St

      APARTMENT HOUSE (5+ UNITS) • 5.19 Acres
      7777 99th St, Milwaukee, WI 53224
      View Details
    • Value Estimation
      $5,500,000
      7,000 SF

      8950 97th St

      APARTMENT HOUSE (5+ UNITS) • 7,000 SF
      8950 97th St, Milwaukee, WI 53224-1658
      View Details
    • Value Estimation
      $840,000
      5,752 SF

      7486 Granville Rd

      APARTMENT HOUSE (5+ UNITS) • 5,752 SF
      7486 Granville Rd, Milwaukee, WI 53224-3951
      View Details
    • Value Estimation
      $665,000
      6,720 SF

      8940 Michele St

      APARTMENT HOUSE (5+ UNITS) • 6,720 SF
      8940 Michele St, Milwaukee, WI 53224-1955
      View Details
    • Value Estimation
      $885,000
      10,080 SF

      8405 8409th W Northridge Ct

      APARTMENT HOUSE (5+ UNITS) • 10,080 SF
      8405 8409th W Northridge Ct, Milwaukee, WI 53224
      View Details
    • Value Estimation
      $9,255,000
      73,748 SF

      7926 7954th N 107th St, Unit 7954

      APARTMENT HOUSE (5+ UNITS) • 73,748 SF
      7926 7954th N 107th St, Milwaukee, WI 53224-3159
      View Details

    Similar Nearby for Sale

    • $77,700
      1,122 SF

      Condominium Townhouse with Sweat Equity

      Three-bedroom condominium townhouse with renovation potential and assigned parking.
      6655 N Bourbon St, Milwaukee, WI 53224
      View Details
    • $739,900
      0.60 Acres

      Solid Brick 8-Unit Building

      Well-maintained 8-unit multifamily building in a quiet Milwaukee neighborhood.
      9015 N 96Th St, Milwaukee, WI 53224
      View Details
    • $149,000

      Commercial Land Near I-41 Access

      Commercial land with convenient access to I-41 and nearby amenities.
      10920 W Liberty Dr, Milwaukee, WI 53224
      View Details
    • Contact for pricing
      0.90 Acres

      Milwaukee Retail Land - 0.9 Acres

      Prime Milwaukee location, build-to-suit opportunity.
      8404 Brown Deer Rd, Milwaukee, WI 53224
      View Details
    • $3,125,000
      56,293 SF

      Milwaukee Flex Building: $3.125M

      56,293 SF Flex Space, Excellent Location
      12100 Park Pl, Milwaukee, WI 53224
      View Details
    • Contact for pricing
      32,334 SF

      Milwaukee Executive Office Building

      32,334 SF Office, NNN Lease, Owner-User Opportunity
      11700 Lake Park Dr, Milwaukee, WI 53224
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      13,500 SF

      Milwaukee Office Space: Liberty 1

      Premium Milwaukee Office Suites, Flexible Options
      11414 Park Pl, Milwaukee, WI 53224
      View Details
    • Contact for pricing
      197,600 SF

      Two Park Plaza: Executive Suites

      Milwaukee, WI Class A Office Space
      10850 Park Pl, Milwaukee, WI 53224
      View Details
    • $11 SF/Yr
      197,600 SF

      Milwaukee Executive Office Space

      Class A Office Suites, Stunning Lake Views
      10850 Park Pl, Milwaukee, WI 53224
      View Details
    • $12 SF/Yr
      3,702 SF

      Retail Space in High-Traffic Area

      Neighborhood shopping center with high visibility and traffic volume.
      10855 West Park Pl, Milwaukee, WI 53224
      View Details
    • New
      $1,850 /Mo
      9,688 SF

      Office Space in Granville District

      Office spaces available in Milwaukee's Granville Business District.
      9316 N 107Th St, Milwaukee, WI 53224
      View Details
    • $11 SF/Yr
      86,723 SF

      Luxury Milwaukee Office Space

      Class A Office Suites, 5,637 - 32,760 SF
      11414 Park Pl, Milwaukee, WI 53224
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8960 Michele St
    Milwaukee, WI 53224-1958
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.