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Property profile & analytics
OFF-MARKET
Estimated value
$13,585,000
Grocery and convenience stores
123 Oklahoma Ave Milwaukee, WI 53207-2601
Entity Owned
15-yr Hold
Free & Clear
Property ID
US92-0114782
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1984
Total area
87,790 SF
Lot
7.97 ac (347,304 SF)
Zoning code
LB2
APN
537-0702-000
UPID
US92-0114782
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
-
Piggly Wiggly Grocery & Convenience Store Food Market
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Azteca Bakery Bakery Specialty Food Shop
-
Huntington Bank ATM (Walk Up) Atm
-
Money Mart Check Cashing Money Transfers Milwaukee Inside Piggly Wiggly Check Cashing
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$14.17M
Comparable Approach
Comparable
$15.41M
Blend (final)
Blend
$13.59M
Owner & transaction history
Pjr Properties LLC · 15 yrs held
Pjr Properties LLC
since 2011
4 recorded transactions
Zoning & alternative use
LB2 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$20.2M
+33.1%
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%
$15,350,000
6.5%
$14,165,000
7%
$13,155,000
Alternative Use
Use
Estimation
RETAIL STORES
$15,170,000
Current use
APARTMENT HOUSE (5+ UNITS)
$20,190,000
Change: +33% · Conversion: Difficult
Blend value · Realmo final
$13.59M
Range $12.23M – $14.94M · ±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
$155 / 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
$157,653
Tax year 2022
Assessed value
$6,871,200
Assessed 2022
Previous assessed
$6,871,200
+0.0% YoY
Effective rate
2.29%
On assessed value
Assessed land
$877,000
Assessed improvement
$5,994,200
Land market value
$877,000
Improvement market value
$5,994,200
Total market value
$6,871,200
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1984
Heating
NONE
Cooling
YES
Stories
1
Units
4
Total area
87,790 SF
Lot
7.97 ac (347,304 SF)
Zoning code
LB2
APN
537-0702-000
UPID
US92-0114782
Jurisdiction
MILWAUKEE
Zoning & alternative use
LB2 · Milwaukee, WI
Zoning LB2 · permitted uses
LB2 · 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
RETAIL STORES Current
Est. value
$15.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$20.2M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
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
1984
Heating
NONE
Cooling
Yes
Stories
1
Units
4
Lot
7.97 ac
Current owner
From public records · entity-resolved
Pjr Properties LLC
Entity
Free & Clear · 15 yrs held
Mailing address
1153 LEE ST #109, DES PLAINES, IL 60016-6516
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 8, 2011
$3,700,000
Pjr Properties LLC
Ids Properties LLC
Warranty Deed
—
Apr 12, 2007
$2,750,000
Ids Properties LLC
Asp Realty INC
Special Warranty Deed
$2,750,000 · Waukesha State Bank
Jul 13, 2006
—
Asp Realty INC
American Stores Properties LLC
Warranty Deed
—
Jan 11, 2001
$425,000
Rotter Investment Realty II
American Stores Properties
Grant 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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