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Property profile & analytics
OFF-MARKET
Estimated value
$1,650,000
Office buildings
1581 Racine Ave Waukesha, WI 53186-6826
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US92-0922669
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1994
Total area
18,484 SF
Lot
7.16 ac (311,890 SF)
Zoning code
B-4
APN
WAKC1342274
UPID
US92-0922669
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
$1.82M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.72M
Blend (final)
Blend
$1.65M
Owner & transaction history
Klumb Leasing LLC · 3 yrs held
Klumb Leasing LLC
since 2023
Last sale
$1.5M
4 recorded transactions
Zoning & alternative use
B-4 · Waukesha, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
To provide for individual or small groups of buildings limited to office, professional, and special service uses where the office use would be compatible with other neighborhood uses and not exhibit the intense activity of other business districts
Zone name
Office And Professional
General category
COMMERCIAL
Zone area
81.83 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
$1,730,000
ML approach
$1,820,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.65M
Range $1.49M – $1.82M · ±10% · vs last sale $1.49M (Apr 28 2023)
Last sale anchor
$1.49M
Apr 28 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
$89 / 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
$22,589
Tax year 2023
Assessed value
$1,490,300
Assessed 2023
Previous assessed
$3,155,800
-52.8% YoY
Effective rate
1.52%
On assessed value
Assessed land
$480,300
Assessed improvement
$1,010,000
Total market value
$1,542,913
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
1994
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
18,484 SF
Lot
7.16 ac (311,890 SF)
Zoning code
B-4
APN
WAKC1342274
UPID
US92-0922669
Jurisdiction
WAUKESHA
Zoning & alternative use
B-4 · Waukesha, WIZoning B-4 · permitted uses
B-4 · 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 buildings limited to office, professional, and special service uses where the office use would be compatible with other neighborhood uses and not exhibit the intense activity of other business districts
Zone name
Office And Professional
General category
COMMERCIAL
Zone area
81.83 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1994
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
7.16 ac
Current owner
From public records · entity-resolved
Klumb Leasing LLC
Entity
Mailing address
1032ND COUNTY RD L L, EAST TROY, WI 53120-2344
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 28, 2023
$1,489,600
Klumb Leasing LLC
Lucky Leprechauns INC
Warranty Deed
$1,460,000 · Citizens Bank
Jul 18, 2007
$5,000
Garden Prairie Development INC
Lucky Leprechauns INC
Quit Claim Deed
related
—
Jun 29, 2004
—
Lucky Leprechauns INC
—
Trustees Deed
related
$1,815,000 · Waukesha State Bank
—
—
Lucky Leprechauns INC
—
Deed Of Trust
related
$1,901,000 · 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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