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Property profile & analytics
OFF-MARKET
Estimated value
$695,000
Turn key restaurants
1101 2nd St Milwaukee, WI 53204-2408
Entity Owned
15-yr Hold
Property ID
US92-3400060
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1907
Total area
5,458 SF
Lot
0.13 ac (5,600 SF)
Zoning code
IM
APN
431-0221-100
UPID
US92-3400060
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
-
Braise Restaurant & Culinary School Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$711k
Blend (final)
Blend
$695k
Owner & transaction history
Braise Local Food LLC · 15 yrs held
Braise Local Food LLC
since 2011
7 recorded transactions
Zoning & alternative use
IM · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$880,000
+64.0%
Auto repair, garage
$650,000
+21.5%
Apartment house (5+ units)
$590,000
+9.9%
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
RESTAURANT
$535,000
Current use
RETAIL STORES
$880,000
Change: +64% · Conversion: Easy
AUTO REPAIR, GARAGE
$650,000
Change: +22% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$590,000
Change: +10% · Conversion: Difficult
MEDICAL BUILDING
$560,000
Change: +5% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$510,000
Change: -5% · Conversion: Difficult
OFFICE BUILDING
$430,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$695k
Range $626k – $765k · ±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
$127 / 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
$15,034
Tax year 2022
Assessed value
$579,700
Assessed 2022
Previous assessed
$579,700
+0.0% YoY
Effective rate
2.59%
On assessed value
Assessed land
$33,600
Assessed improvement
$546,100
Land market value
$33,600
Improvement market value
$546,100
Total market value
$579,700
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1907
Heating
YES
Cooling
YES
Stories
2
Units
3
Rooms
14
Bathrooms
3
Total area
5,458 SF
Lot
0.13 ac (5,600 SF)
Zoning code
IM
APN
431-0221-100
UPID
US92-3400060
Jurisdiction
MILWAUKEE
Zoning & alternative use
IM · Milwaukee, WI
Zoning IM · permitted uses
IM · 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
RESTAURANT Current
Est. value
$535,000
RETAIL STORES
Est. value
$880,000
AUTO REPAIR, GARAGE
Est. value
$650,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$590,000
MEDICAL BUILDING
Est. value
$560,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$510,000
OFFICE BUILDING
Est. value
$430,000
RESTAURANT Current
RETAIL STORES
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1907
Heating
YES
Cooling
Yes
Stories
2
Units
3
Rooms
14
Bathrooms
3
Lot
0.13 ac
Current owner
From public records · entity-resolved
Braise Local Food LLC
Entity
Mailing address
182 W SAVELAND AVE, MILWAUKEE, WI 53207-3872
Ownership since
2011
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
Oct 10, 2025
—
Braise Local Food LLC
—
Deed
related
$660,000 · Educators Cu
Mar 3, 2011
$550,000
Braise Local Food LLC
Ostrom Properties LLC
Warranty Deed
$730,000 · Community Bank & Trust
Sep 25, 2006
$425,000
Ostrom Properties LLC
Walkers Point Marble Arcade INC
Warranty Deed
$425,000 · Lincoln State Bank
Jun 18, 2004
—
Walkers Pt Marble Arcade INC
Doris Jankowski
Warranty Deed
$142,800 · Fair Fin
—
—
Walkers Pt Marble Arcade INC
—
Deed Of Trust
related
$20,000 · Fair Fin
—
—
Braise Local Food LLC
—
Deed Of Trust
related
—
—
—
Braise Local Food LLC
—
Deed Of Trust
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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