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Property profile & analytics
OFF-MARKET
Commercial real estate
111 4th W St, Milan, IL 61264-2417
Entity Owned
~
Est. High Equity
Property ID
US28-5530563
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1950
Construction
FRAME
Total area
4,500 SF
Lot
0.1 ac (4,356 SF)
Zoning code
MIL
APN
16-23-206-006
UPID
US28-5530563
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Bernauer Properties LLC
Bernauer Properties LLC
since 2026
Last sale
$225,000
5 recorded transactions
Zoning & alternative use
MIL · Milan, IL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Milan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milan 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$4,515
Tax year 2022
Assessed value
$46,952
Assessed 2022
Previous assessed
$44,462
+5.6% YoY
Effective rate
9.62%
On assessed value
Assessed land
$8,049
Assessed improvement
$38,903
Land market value
$24,147
Improvement market value
$116,709
Total market value
$140,856
Applied tax rate
11,006.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1950
Construction
FRAME
Heating
NONE
Stories
2
Total area
4,500 SF
Lot
0.1 ac (4,356 SF)
Zoning code
MIL
APN
16-23-206-006
UPID
US28-5530563
Jurisdiction
ROCK ISLAND
Zoning & alternative use
MIL · Milan, IL
Zoning MIL · permitted uses
MIL · Milan, IL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Milan. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1950
Construction
FRAME
Heating
NONE
Stories
2
Lot
0.1 ac
Current owner
From public records · entity-resolved
Bernauer Properties LLC
Entity
Mailing address
2124 E 11TH ST, DAVENPORT, IA 52803-3704
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 22, 2026
$225,000
Bernauer Properties LLC
Koellner Enterprises 3 LLC
Warranty Deed
$290,000 · Fortress Bank
Apr 11, 2023
$150,000
Koellner Enterprises 3 LLC
Carrara Development Lc
Warranty Deed
$360,000 · Connection Bank
Nov 25, 2015
$85,000
Carrara Dev LLC
Brown,beneta S
Warranty Deed
$85,000 · Ih Ms Vly Cu
Nov 25, 2015
—
Beneta S Fraser
King Anna V
Grant Deed
—
—
—
Beneta S Fraser
—
Deed Of Trust
related
$25,000 · Blackhawk State Bank
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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