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Property profile & analytics
OFF-MARKET
Estimated value
$22,750,000
Retail properties & Spaces
1600 Main St Waukesha, WI 53186-3943
Entity Owned
14-yr Hold
Absentee Owner
Free & Clear
Property ID
US92-1998908
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
2013
Total area
237,201 SF
Lot
16.14 ac (703,058 SF)
Zoning code
B-5
APN
WAKC1007043
UPID
US92-1998908
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
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Woodman's Liquor Store (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
Minute Key Locksmith (Bike/Boat/Book/etc) Store
-
Woodman's Food Market Grocery & Convenience Store Food Market
-
Gabriel's Taqueria-Truck #3 Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$26.47M
Blend (final)
Blend
$22.75M
Owner & transaction history
Woodmans Food Market INC · 14 yrs held
Woodmans Food Market INC
since 2012
3 recorded transactions
Zoning & alternative use
B-5 · Waukesha, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
To provide for the orderly and attractive grouping at appropriate locations along principle highway routes and through highways of those businesses and customer services which are logically related and dependent upon highway traffic or which are specifically designated to serve the needs of such traffic
Zone name
Community Business
General category
COMMERCIAL
Zone area
514.87 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$35.2M
+16.8%
Apartment house (5+ units)
$33.0M
+9.3%
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
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
RETAIL STORES
$30,180,000
Current use
COMMERCIAL (GENERAL)
$35,240,000
Change: +17% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$32,975,000
Change: +9% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$28,360,000
Change: -6% · Conversion: Difficult
WAREHOUSE, STORAGE
$28,275,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$22.75M
Range $20.48M – $25.03M · ±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
$96 / 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
$372,103
Tax year 2023
Assessed value
$24,555,000
Assessed 2023
Previous assessed
$18,945,400
+29.6% YoY
Effective rate
1.52%
On assessed value
Assessed land
$6,151,800
Assessed improvement
$18,403,200
Total market value
$25,421,886
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
2013
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
237,201 SF
Lot
16.14 ac (703,058 SF)
Zoning code
B-5
APN
WAKC1007043
UPID
US92-1998908
Jurisdiction
WAUKESHA
Zoning & alternative use
B-5 · Waukesha, WIZoning B-5 · permitted uses
B-5 · 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 the orderly and attractive grouping at appropriate locations along principle highway routes and through highways of those businesses and customer services which are logically related and dependent upon highway traffic or which are specifically designated to serve the needs of such traffic
Zone name
Community Business
General category
COMMERCIAL
Zone area
514.87 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$30.2M
COMMERCIAL (GENERAL)
Est. value
$35.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$33.0M
INDUSTRIAL (GENERAL)
Est. value
$28.4M
WAREHOUSE, STORAGE
Est. value
$28.3M
RETAIL STORES Current
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
2013
Heating
NONE
Cooling
Yes
Stories
1
Lot
16.14 ac
Current owner
From public records · entity-resolved
Woodmans Food Market INC
Entity
Free & Clear · 14 yrs held
Mailing address
2631 LIBERTY LN, JANESVILLE, WI 53545-0741
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 10, 2013
—
Beres Foods LLC
—
Trustees Deed
related
$1,000,000 · Bmo Harris Bk NA
Feb 9, 2012
$11,875,000
Woodmans Food Market INC
Spancrete Industries INC
Grant Deed
—
—
—
Jelivann Waukesha LLC
—
Deed Of Trust
related
$410,000 · Dealar Properties INC
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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