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

    9168 124th St Milwaukee, WI 53224-1406

    • Retail space
    • 10,322 SF
    • 9.89 lot acres
    OFF-MARKET
    Last Sale
    Mar 08, 2022
    $1,450,000
    Value Estimations
    $1,730,000
    Show details
    Cap Rate Potential
    6.2%
    Retail space
    Location Intelligence
    Property ID
    US92-0900786
    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

    • Shoreline Contracting Services Inc / Masonry Contractor
    • Zignego Company / General Contractor
    • American Demolition / Concrete Contractor

    Property Details for 9168 124th St

    Year built
    1990
    Lot size
    9.89 lot acres
    Property size
    10,322 SF
    Zone code
    IL1
    Property type
    Retail space
    APN
    037-0011-000
    APU
    370011000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,755,000
      ML approach
      $1,725,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,805,000
      6.5%
      $1,665,000
      7%
      $1,545,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,110,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $1,335,000
      Change: +20% Conversion: Difficult
      RESTAURANT
      $1,315,000
      Change: +18% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,230,000
      Change: +11% Conversion: Difficult
      MEDICAL BUILDING
      $1,065,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -88.0616
    Latitude
    43.1836
    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
    $8,445
    $189,700
    $165,000
    $354,700
    -
    $189,700
    $165,000
    $354,700

    Comparable in this City

    • Value Estimation
      $335,000
      2,203 SF

      9505 Brown Deer Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,203 SF
      9505 Brown Deer Rd, Milwaukee, WI 53224-2011
      View Details
    • Value Estimation
      $685,000
      12,860 SF

      9201 107th St

      RETAIL STORES (PERSONAL SERVICES) • 12,860 SF
      9201 107th St, Milwaukee, WI 53224-1101
      View Details
    • Value Estimation
      $1,335,000
      20,600 SF

      9434 9446th N 107th St, Unit 9446

      RETAIL STORES (PERSONAL SERVICES) • 20,600 SF
      9434 9446th N 107th St, Milwaukee, WI 53224-1106
      View Details
    • Value Estimation
      $470,000
      19,802 SF

      10236 Fond Du Lac Ave

      RETAIL STORES (PERSONAL SERVICES) • 19,802 SF
      10236 Fond Du Lac Ave, Milwaukee, WI 53224-5121
      View Details
    • Value Estimation
      $320,000
      7,200 SF

      9350 107th St

      RETAIL STORES (PERSONAL SERVICES) • 7,200 SF
      9350 107th St, Milwaukee, WI 53224-1121
      View Details
    • Value Estimation
      $4,705,000
      9.01 Acres

      11225 Heather Ave

      RETAIL STORES (PERSONAL SERVICES) • 9.01 Acres
      11225 Heather Ave, Milwaukee, WI 53224-2205
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      35,817 SF

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      One-story office building in Milwaukee, Wisconsin, spanning 35,817 square feet.
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      One-story Milwaukee office building with flexible multi-tenant layout.
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    • $149,000

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      6.92 Acres

      Menomonee Falls Industrial Land

      6.92-acre pad-ready site, I-3 zoning.
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      View Details
    • $515,000
      9,688 SF

      Milwaukee Flex Warehouse - $515K

      Multi-tenant flex space, great value-add opportunity.
      9306-9316 107Th St, 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

    Similar Nearby for Lease

    • $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
    • $8 SF/Yr
      42,656 SF

      Highland Plaza Office Suites

      Milwaukee Office Space: 6 Suites Available
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      View Details
    • $11 SF/Yr
      199,326 SF

      One Park Executive Office Space

      Milwaukee, WI: Premium Office Suites Available
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      View Details
    • Contact for pricing
      29,747 SF

      Faulkner Road Flex Space Available

      Milwaukee County flex space; 8,400 SF available.
      7832 Faulkner Rd, Milwaukee, WI 53224
      View Details
    • $550 /Mo
      9,688 SF

      Milwaukee Office Space For Lease

      Office spaces available in Granville Business District, Milwaukee.
      9310 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
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    Milwaukee, WI 53224-1406
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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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