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Property profile & analytics
OFF-MARKET
Estimated value
$16,235,000
Office buildings
10820 10850th W Park Pl 10850 Milwaukee, WI 53224-3619
Entity Owned
21-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US92-1056644
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1986
Total area
210,744 SF
Lot
8.5 ac (370,347 SF)
Zoning code
PD
APN
111-0031-000
UPID
US92-1056644
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$14.82M
Blend (final)
Blend
$16.24M
Owner & transaction history
Two Park Place LLC · 21 yrs held
Two Park Place LLC
since 2004
7 recorded transactions
Zoning & alternative use
PD · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$26.8M
+60.5%
Auto repair, garage
$25.1M
+50.6%
Retail stores
$22.7M
+35.8%
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
$16,695,000
Current use
RESTAURANT
$26,800,000
Change: +61% · Conversion: Moderate
AUTO REPAIR, GARAGE
$25,140,000
Change: +51% · Conversion: Difficult
RETAIL STORES
$22,680,000
Change: +36% · Conversion: Moderate
MEDICAL BUILDING
$21,695,000
Change: +30% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$19,610,000
Change: +17% · Conversion: Difficult
COMMERCIAL (GENERAL)
$18,280,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$16.24M
Range $14.61M – $17.86M · ±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
$77 / 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
$180,004
Tax year 2022
Assessed value
$13,407,900
Assessed 2022
Previous assessed
$13,407,900
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$2,088,800
Assessed improvement
$11,319,100
Land market value
$2,088,800
Improvement market value
$11,319,100
Total market value
$13,407,900
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
1986
Heating
YES
Stories
12
Units
40
Total area
210,744 SF
Lot
8.5 ac (370,347 SF)
Zoning code
PD
APN
111-0031-000
UPID
US92-1056644
Jurisdiction
MILWAUKEE
Zoning & alternative use
PD · Milwaukee, WI
Zoning PD · permitted uses
PD · 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
$16.7M
RESTAURANT
Est. value
$26.8M
AUTO REPAIR, GARAGE
Est. value
$25.1M
RETAIL STORES
Est. value
$22.7M
MEDICAL BUILDING
Est. value
$21.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$19.6M
COMMERCIAL (GENERAL)
Est. value
$18.3M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
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
1986
Heating
YES
Stories
12
Units
40
Lot
8.5 ac
Current owner
From public records · entity-resolved
Two Park Place LLC
Entity
Mailing address
16TH STONE RDG DR #35, WAUKESHA, WI 53188-1171
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 9, 2021
—
Two Park Place LLC
—
Deed
related
$806,000 · Inland Bank & Trust
Jul 13, 2020
—
Two Park Place LLC
—
Deed
related
$8,134,762 · First Midwest Bk
Jan 4, 2018
—
Two Park Place LLC
—
Deed
related
$8,667,742 · First Midwest Bk
Sep 28, 2012
—
Two Park Place LLC
—
Deed Of Trust
related
$10,810,000 · First Midwest Bk
Oct 8, 2004
$15,150,000
Two Park Place LLC
Teachers Ins & Annuity Assn Of Am
Grant Deed
$12,760,000 · M&i Marshall & Ilsley Bk
—
—
Two Park Place LLC
—
Loan Modification
related
$10,810,000 · First Midwest Bk
—
—
Two Park Place LLC
—
Loan Modification
related
$8,193,982 · First Midwest Bk
—
—
Two Park Place LLC
—
Loan Modification
related
$8,667,742 · First Midwest Bk
—
—
Two Park Place LLC
—
Loan Modification
related
$8,134,762 · First Midwest Bk
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.
Try Rey
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