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Property profile & analytics
OFF-MARKET
Estimated value
$9,330,000
Office buildings
1104 Dr Martin Luther King Jr Dr Milwaukee, WI 53203
Individually Owned
10-yr Hold
Free & Clear
Property ID
US92-0884537
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1923
Total area
116,000 SF
Lot
0.45 ac (19,519 SF)
Zoning code
RED
APN
361-1801-110
UPID
US92-0884537
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
$9.56M
Blend (final)
Blend
$9.33M
Owner & transaction history
Andover Portland Avenue Assocs · 10 yrs held
Andover Portland Avenue Assocs
since 2015
6 recorded transactions
Zoning & alternative use
RED · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$14.8M
+60.5%
Auto repair, garage
$13.8M
+50.6%
Retail stores
$12.5M
+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
$9,190,000
Current use
RESTAURANT
$14,750,000
Change: +61% · Conversion: Moderate
AUTO REPAIR, GARAGE
$13,835,000
Change: +51% · Conversion: Difficult
RETAIL STORES
$12,485,000
Change: +36% · Conversion: Moderate
MEDICAL BUILDING
$11,940,000
Change: +30% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$10,795,000
Change: +17% · Conversion: Difficult
COMMERCIAL (GENERAL)
$10,065,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$9.33M
Range $8.40M – $10.26M · ±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
$80 / 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
$174,844
Tax year 2022
Assessed value
$7,343,300
Assessed 2022
Previous assessed
$7,343,300
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$1,463,900
Assessed improvement
$5,879,400
Land market value
$1,463,900
Improvement market value
$5,879,400
Total market value
$7,343,300
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
1923
Heating
NONE
Stories
6
Units
30
Total area
116,000 SF
Lot
0.45 ac (19,519 SF)
Zoning code
RED
APN
361-1801-110
UPID
US92-0884537
Jurisdiction
MILWAUKEE
Zoning & alternative use
RED · Milwaukee, WI
Zoning RED · permitted uses
RED · 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
$9.2M
RESTAURANT
Est. value
$14.8M
AUTO REPAIR, GARAGE
Est. value
$13.8M
RETAIL STORES
Est. value
$12.5M
MEDICAL BUILDING
Est. value
$11.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$10.8M
COMMERCIAL (GENERAL)
Est. value
$10.1M
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
1923
Heating
NONE
Stories
6
Units
30
Lot
0.45 ac
Current owner
From public records · entity-resolved
Andover Portland Avenue Assocs
Individual
Free & Clear · 10 yrs held
Mailing address
9 TRAVERS ST, HAVERHILL, MA 01830-4134
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 2015
$7,500,000
Andover Portland Avenue Assocs
Rfp Office LLC
Grant Deed
—
—
—
Rfp Office LLC
—
Loan Modification
related
—
—
—
Riverfront Plaza
—
Deed Of Trust
related
$6,400,000 · Miscellaneous Ins Co
—
—
Rfp Parking LLC
—
Deed Of Trust
related
$2,397,500 · Johnson Bk
—
—
Rfp Office LLC
—
Loan Modification
related
—
—
—
Rfp Parking LLC
—
Loan Modification
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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