Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$7,965,000
Office buildings
1400 Water St 1 Milwaukee, WI 53202-3164
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US92-2003426
Property summary
AI-generated overview
This exceptional Class A retail property, located at 1400 N Water Street in Milwaukee, WI, offers multiple spaces ranging from 2,437 to 13,064 square feet within a 144,000 square foot building. Built in 2019, this five-story building boasts a Neo-classical design, featuring a light-filled lobby and gallery showcasing architectural motifs and art. The property provides superb visibility, unrivaled window lines and natural light, high ceilings, and abundant onsite parking with 360 spaces. Currently, 28,501 square feet of retail space is available. Located in Milwaukee County, this prime downtown location offers unparalleled access to the city's vibrant atmosphere and amenities. The building's exemplary property management and high-profile tenant roster contribute to its prestigious status as one of Milwaukee's most elite office destinations. A state-of-the-art fitness center is also available for tenant use. This is an exceptional opportunity for businesses seeking a sophisticated and well-appointed space in a highly desirable location.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2017
Total area
81,072 SF
Lot
0.73 ac (31,881 SF)
Zoning code
PD
APN
361-2281-000
UPID
US92-2003426
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
-
Miron Construction Construction Company General Contractor
-
Bradley Foundation Charitable Organization Social Service Agency
-
Bradley Impact Fund Charitable Organization Social Service Agency
-
Hammes Company Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.97M
Owner & transaction history
Hf Of1 LLC · 4 yrs held
Hf Of1 LLC
since 2021
1 recorded transaction
Zoning & alternative use
PD · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$10.6M
+40.5%
Restaurant
$10.3M
+36.9%
Auto repair, garage
$9.7M
+28.4%
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
$7,530,000
Current use
COMMERCIAL (GENERAL)
$10,575,000
Change: +40% · Conversion: Easy
RESTAURANT
$10,310,000
Change: +37% · Conversion: Moderate
AUTO REPAIR, GARAGE
$9,670,000
Change: +28% · Conversion: Difficult
MEDICAL BUILDING
$8,345,000
Change: +11% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$7,545,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$7.97M
Range $7.17M – $8.76M · ±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
$98 / 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
$378,436
Tax year 2022
Assessed value
$15,894,000
Assessed 2022
Previous assessed
$15,894,000
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$1,275,200
Assessed improvement
$14,618,800
Land market value
$1,275,200
Improvement market value
$14,618,800
Total market value
$15,894,000
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
2017
Stories
5
Units
7
Total area
81,072 SF
Lot
0.73 ac (31,881 SF)
Zoning code
PD
APN
361-2281-000
UPID
US92-2003426
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
$7.5M
COMMERCIAL (GENERAL)
Est. value
$10.6M
RESTAURANT
Est. value
$10.3M
AUTO REPAIR, GARAGE
Est. value
$9.7M
MEDICAL BUILDING
Est. value
$8.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.5M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
2017
Stories
5
Units
7
Lot
0.73 ac
Current owner
From public records · entity-resolved
Hf Of1 LLC
Entity
Mailing address
1400 N WATER ST STE #500, MILWAUKEE, WI 53202-4129
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 27, 2021
—
Hf Of1 LLC
—
Deed
related
$16,000,000 · National Western Life Insurance Company
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1400 Water St, Unit 1?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
