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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Grocery and convenience stores
1505 Racine Ave Waukesha, WI 53186-6826
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US92-0989320
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE (W/FUEL PUMP)
Year built
1985
Total area
2,229 SF
Lot
0.83 ac (36,155 SF)
Zoning code
B-1
APN
WAKC1337970
UPID
US92-0989320
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
-
Harlfinger's Service Inc Auto Repair Shop
-
Phillips 66 Gas Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$630k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$580k
Owner & transaction history
Himalayan Grocery LLC · 3 yrs held
Himalayan Grocery LLC
since 2023
Last sale
$500,000
5 recorded transactions
Zoning & alternative use
B-1 · Waukesha, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
To provide for individual or small groups of retail and customer service establishments serving primarily the convenience of a local neighborhood, and the character, appearance, and operation of which are compatible with the character of the surrounding area, No such district established after the effective date of this Ordinance shall be less than three acr…
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
20.99 ac
Source
Realmo
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 Waukesha submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waukesha 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
$580,000
ML approach
$630,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
SERVICE STATION (FULL SERVICE)
$385,000
Current use
MEDICAL BUILDING
$370,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$580k
Range $522k – $638k · ±10% · vs last sale $500k (Aug 1 2023)
Last sale anchor
$500k
Aug 1 2023
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
$260 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$6,007
Tax year 2023
Assessed value
$387,100
Assessed 2023
Previous assessed
$400,100
-3.2% YoY
Effective rate
1.55%
On assessed value
Assessed land
$221,400
Assessed improvement
$165,700
Total market value
$400,766
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
CONVENIENCE STORE (W/FUEL PUMP)
Status
Off-Market
Year built
1985
Heating
FORCED AIR
Cooling
NONE
Stories
1
Total area
2,229 SF
Lot
0.83 ac (36,155 SF)
Zoning code
B-1
APN
WAKC1337970
UPID
US92-0989320
Jurisdiction
WAUKESHA
Zoning & alternative use
B-1 · Waukesha, WIZoning B-1 · permitted uses
B-1 · Waukesha, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
To provide for individual or small groups of retail and customer service establishments serving primarily the convenience of a local neighborhood, and the character, appearance, and operation of which are compatible with the character of the surrounding area, No such district established after the effective date of this Ordinance shall be less than three acres in area
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
20.99 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
SERVICE STATION (FULL SERVICE) Current
Est. value
$385,000
MEDICAL BUILDING
Est. value
$370,000
SERVICE STATION (FULL SERVICE) Current
MEDICAL 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
1985
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.83 ac
Current owner
From public records · entity-resolved
Himalayan Grocery LLC
Entity
Ownership since
2023
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
Aug 1, 2023
$500,000
Himalayan Grocery LLC
Little Buddies LLC
Warranty Deed
$1,586,900 · Old National Bank
Dec 29, 2016
—
Little Buddies LLC
Harlfinger,john W & Cynthia
Warranty Deed
—
—
—
John W Harlfinger
—
Deed Of Trust
related
$150,000 · Waukesha State Bank
—
—
John W Harlfinger
—
Deed Of Trust
related
$8,900 · Waukesha State Bank
—
—
John W Harlfinger
—
Deed Of Trust
related
$88,254 · Waukesha 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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