11000 Lake Park DrMilwaukee, WI 53224

Property Details for 11000 Lake Park Dr

Year built

1996

Lot size

54.57 AC

Property size (Sq ft)

238,191 SF

Zone code

PD

Property type

Office properties

Property subtype

Office buildings

APN

077-0131-000

APU

770131000

Description

This exceptional executive office building, located at 11000 W Lake Park Drive in Milwaukee, Wisconsin, presents a significant investment opportunity. Spanning 238,129 square feet on an expansive 81.705-acre lot (APN: 0770131000 & 0770132000), this property offers significant potential for future expansion and development. The building, constructed in 1996 and zoned PD Planned Development, boasts numerous recent upgrades, enhancing its functionality and appeal. These improvements include LED lighting (interior and exterior), new carpeting throughout, six new HVAC rooftop units, a new 600 kW generator, and updated boilers. The asking price is $14,500,000, translating to a price per square foot of $60.89. Strategically situated within the 300+ acre Park Place Office Park, this property enjoys convenient access to I-41/Highway 45 (approximately one mile away), and a wealth of nearby amenities, including hotels, restaurants, grocery stores, and other retail establishments. This high-end headquarters facility offers a unique blend of modern upgrades, ample space, and a prime location within a thriving business park, making it an attractive proposition for discerning investors. The property's size and zoning provide flexibility for future development, further enhancing its long-term value.

• CAP approach

  CAP return

  Valuation

  6%

  $43,008,212

  6.5%

  $39,699,888

  7%

  $36,864,184

• Comparable approach

  Method

  Valuation

  Relative Method

  $24,181,908

  Geo Method

  $31,024,378

• Alternative Use

  Use

  Valuation

  Residential

  $49,227,860

  Hospitality

  $45,092,456

  Educational

  $37,516,396

  Medical

  $38,806,640

  Retail

  $58,358,836

Location Insight

City

Milwaukee

County

Milwaukee

State

Wisconsin

Latitude

43.1604

Longitude

-88.0479

CBSA code

33340

CBSA name

MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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