5500 Silver Spring DrMilwaukee, WI 53218

Property Details for 5500 Silver Spring Dr

Year built

1949

Lot size

1.93 AC

Property size (Sq ft)

25,684 SF

Zone code

PD

Property type

Retail properties

APN

173-0351-000

APU

1730351000

Description

This exceptional 2.106-acre site in Milwaukee, Wisconsin, presents a compelling redevelopment opportunity. Located at 5500 W Silver Spring Dr, zip code 53218, this assemblage comprises two legally distinct parcels (APN 173-0351-000 and 173-0311-000), totaling 91,750 square feet. Currently improved with a 1949 commercial farmstand building and greenhouses, the property benefits from high daily traffic counts on W. Silver Spring Drive. Zoned PD Planned Development and RS-5 Residential, this location offers significant potential for various developments, including multi-unit residential or commercial projects. The site's advantageous location within a designated Opportunity Zone and New Markets Tax Credit (NMTC) Tract further enhances its investment appeal. The asking price is $550,000. This is a unique chance to acquire a substantial parcel in a prime Milwaukee location with flexible zoning and significant tax incentives. The property is owned by Select Management.

• CAP approach

  CAP return

  Valuation

  6%

  $5,411,000

  6.5%

  $4,994,770

  7%

  $4,638,000

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,711,820

  Geo Method

  $3,479,150

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $9,856,770

  Mixed-Use / Specialty

  $4,929,900

  Hospitality / Lodging

  $3,555,630

  Office

  $4,851,590

  Institutional / Educational

  $5,108,290

  Residential Income

  $5,976,700

  Multifamily

  $7,429,050

  Automotive / Energy

  $4,378,530

  Parking / Income-Based Land

  $1,557,480

  Restaurant / Food Service

  $2,463,630

  Healthcare / Senior Housing

  $5,103,790

Location Insight

City

Milwaukee

County

Milwaukee

State

Wisconsin

Latitude

43.1199

Longitude

-87.9817

CBSA code

33340

CBSA name

MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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