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Property profile & analytics
OFF-MARKET
Estimated value
$71,885,000
Office buildings
105 Michigan St 111 Milwaukee, WI 53203-2903
Entity Owned
5-yr Hold
Free & Clear
Property ID
US92-0851479
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1998
Total area
414,410 SF
Lot
2.16 ac (94,002 SF)
Zoning code
C9F(A)
APN
361-0776-114
UPID
US92-0851479
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
-
111 W. Michigan Monthly Garage (1176) Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$77.76M
Comparable Approach
Comparable
$43.39M
Blend (final)
Blend
$71.89M
Owner & transaction history
Rx Milwaukee We Landlord LLC · 5 yrs held
Rx Milwaukee We Landlord LLC
since 2021
Last sale
$72.2M
3 recorded transactions
Zoning & alternative use
C9F(A) · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$70.2M
+113.9%
Restaurant
$52.7M
+60.5%
Auto repair, garage
$49.4M
+50.6%
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
$93,895,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$84,240,000
6.5%
$77,760,000
7%
$72,205,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$70,215,000
Change: +114% · Conversion: Easy
RESTAURANT
$52,700,000
Change: +61% · Conversion: Moderate
AUTO REPAIR, GARAGE
$49,430,000
Change: +51% · Conversion: Difficult
RETAIL STORES
$44,595,000
Change: +36% · Conversion: Moderate
Blend value · Realmo final
$71.89M
Range $64.70M – $79.07M · ±10% · vs last sale $72.20M (Jul 20 2021)
Last sale anchor
$72.20M
Jul 20 2021
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
$173 / 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
$793,623
Tax year 2022
Assessed value
$33,331,500
Assessed 2022
Previous assessed
$33,331,500
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$7,556,700
Assessed improvement
$25,774,800
Land market value
$7,556,700
Improvement market value
$25,774,800
Total market value
$33,331,500
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
1998
Heating
NONE
Cooling
YES
Stories
5
Units
880
Total area
414,410 SF
Lot
2.16 ac (94,002 SF)
Zoning code
C9F(A)
APN
361-0776-114
UPID
US92-0851479
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$70.2M
RESTAURANT
Est. value
$52.7M
AUTO REPAIR, GARAGE
Est. value
$49.4M
RETAIL STORES
Est. value
$44.6M
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
1998
Heating
NONE
Cooling
Yes
Stories
5
Units
880
Lot
2.16 ac
Current owner
From public records · entity-resolved
Rx Milwaukee We Landlord LLC
Entity
Free & Clear · 5 yrs held
Mailing address
3333 PEACHTREE RD NE, ATLANTA, GA 30326-1070
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 20, 2021
$72,198,000
Rx Milwaukee We Landlord LLC
111 Michigan Partners LLC
Special Warranty Deed
—
Feb 20, 2019
$14,400,000
111 Michigan Partners LLC
Towne Realty INC
Special Warranty Deed
$30,000,000 · Town Bank
Nov 19, 2010
$15,344,000
Towne Realty INC
105/111 LLC
Quit Claim Deed
related
—
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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