5007 Howell AveMilwaukee, WI 53207

Property Details for 5007 Howell Ave

Year built

1990

Lot size

3.18 AC

Property size (Sq ft)

62,748 SF

Zone code

LB1

Property type

Office properties

Property subtype

Office buildings

APN

626-0302-000

APU

6260302000

Description

This exceptional 60,000 square foot medical office building in Milwaukee, Wisconsin, presents a compelling investment opportunity. Located at 5007 S Howell Ave, 53207, this property boasts a prime location directly across from Milwaukee Mitchell International Airport, placing it within an opportunity zone. The building commands an asking price of $8,500,000, offering a strong 8.35% capitalization rate and a substantial net operating income (NOI) of $710,277. Approximately 60% of the building is currently occupied by medical tenants, with the remaining space leased to airport-related businesses, ensuring a stable and diverse tenant base. Recent significant capital improvements enhance the property's value and appeal. These upgrades include a complete lobby remodel with upgraded restrooms, energy-efficient LED lighting throughout the parking lot and common areas, installation of a new chiller and boilers for optimal climate control, a comprehensive security camera system for enhanced safety, extensive parking lot repairs, and the complete replacement of all 450 windows. This meticulously maintained building offers excellent accessibility and presents a rare opportunity to acquire a high-performing asset in a strategic location. The combination of strong NOI, prime location, and recent renovations makes this a truly exceptional investment prospect.

• CAP approach

  CAP return

  Valuation

  6%

  $11,329,896

  6.5%

  $10,458,366

  7%

  $9,711,340

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,370,377

  Geo Method

  $8,172,927

• Alternative Use

  Use

  Valuation

  Residential

  $12,968,374

  Hospitality

  $11,878,960

  Educational

  $9,883,156

  Medical

  $10,223,053

  Retail

  $15,373,798

Location Insight

City

Milwaukee

County

Milwaukee

State

Wisconsin

Latitude

42.9534

Longitude

-87.9106

CBSA code

33340

CBSA name

MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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