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Property profile & analytics
OFF-MARKET
Estimated value
$1,935,000
Office buildings
600 Wisconsin Ave 606 Milwaukee, WI 53202-4603
Individually Owned
19-yr Hold
~
Est. High Equity
Property ID
US92-1191335
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1910
Total area
21,360 SF
Lot
0.17 ac (7,200 SF)
Zoning code
C9F(A)
APN
392-0924-000
UPID
US92-1191335
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Nelson Schmidt, Inc. Marketing & Advertising Advertising Agency
-
Kilbourn Marshall Employment Agency
-
600 East Cafe Take-out & Catering
-
600 East Business Center Business Service Center Corporate Office
-
Giannis Mural Cultural Landmark
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.41M
Blend (final)
Blend
$1.94M
Owner & transaction history
East Wisconsin Avenue Owners Assn L · 19 yrs held
East Wisconsin Avenue Owners Assn L
since 2006
7 recorded transactions
Zoning & alternative use
C9F(A) · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.8M
+40.5%
Restaurant
$2.7M
+36.9%
Auto repair, garage
$2.6M
+28.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Milwaukee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milwaukee submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,985,000
Current use
COMMERCIAL (GENERAL)
$2,785,000
Change: +40% · Conversion: Easy
RESTAURANT
$2,715,000
Change: +37% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,550,000
Change: +28% · Conversion: Difficult
MEDICAL BUILDING
$2,200,000
Change: +11% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,985,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$1.94M
Range $1.74M – $2.13M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$91 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$46,165
Tax year 2022
Assessed value
$2,175,800
Assessed 2022
Previous assessed
$2,175,800
+0.0% YoY
Effective rate
2.12%
On assessed value
Assessed land
$756,000
Assessed improvement
$1,419,800
Land market value
$756,000
Improvement market value
$1,419,800
Total market value
$2,175,800
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1910
Heating
YES
Stories
3
Units
7
Total area
21,360 SF
Lot
0.17 ac (7,200 SF)
Zoning code
C9F(A)
APN
392-0924-000
UPID
US92-1191335
Jurisdiction
MILWAUKEE
Zoning & alternative use
C9F(A) · Milwaukee, WI
Zoning C9F(A) · permitted uses
C9F(A) · Milwaukee, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Milwaukee. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$2.8M
RESTAURANT
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$2.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.0M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1910
Heating
YES
Stories
3
Units
7
Lot
0.17 ac
Current owner
From public records · entity-resolved
East Wisconsin Avenue Owners Assn L
Individual
Mailing address
1665 N WATER ST, MILWAUKEE, WI 53202-2061
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 12, 2021
—
East Wisconsin Avenue Owners Assn L
—
Deed
related
$950,000 · Bank First NA
Feb 21, 2020
—
East Wisconsin Ave Owners Assn
—
Deed
related
$900,000 · Bankfirst
Jun 14, 2016
—
East Wisconsin Avenue Owners Associ
—
Deed
related
$2,560,000 · Partnership Bank
Sep 8, 2006
$1,850,000
East Wisconsin Avenue Owners Assn L
600 Wisconsin LLC
Warranty Deed
$2,200,000 · Ozaukee Bank
Mar 18, 2004
—
600 Wisconsin LLC
Timothy J Olson
Quit Claim Deed
related
—
—
—
East Wisconsin Avenue Owners A
—
Deed Of Trust
related
$500,000 · Miscellaneous Govt Agcy
—
—
East Wisconsin Ave Owners Assn
—
Deed Of Trust
related
$900,000 · Bankfirst
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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