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Property profile & analytics
OFF-MARKET
Estimated value
$940,000
Investment properties
1609 1617th Wn Ave 1617 Milwaukee, WI 53205-1276
Entity Owned
13-yr Hold
Free & Clear
Property ID
US92-3004927
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1906
Total area
8,466 SF
Lot
0.41 ac (18,012 SF)
Zoning code
LB2
APN
351-5061-000
UPID
US92-3004927
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$940k
Owner & transaction history
WELLNESS COMMONS LLC
WELLNESS COMMONS LLC
Zoning & alternative use
LB2 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.4M
+95.3%
Restaurant
$1.1M
+46.6%
Auto repair, garage
$1.0M
+37.5%
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
COMMERCIAL (GENERAL)
$735,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,435,000
Change: +95% · Conversion: Moderate
RESTAURANT
$1,075,000
Change: +47% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,010,000
Change: +38% · Conversion: Difficult
RETAIL STORES
$910,000
Change: +24% · Conversion: Easy
MEDICAL BUILDING
$870,000
Change: +19% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$790,000
Change: +7% · Conversion: Difficult
OFFICE BUILDING
$670,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$940k
Range $846k – $1.03M · ±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
$111 / 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
$8,466
Tax year 2022
Assessed value
$375,600
Assessed 2022
Previous assessed
$375,600
+0.0% YoY
Effective rate
2.25%
On assessed value
Assessed land
$29,700
Assessed improvement
$345,900
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1906
Cooling
YES
Stories
2
Units
5
Total area
8,466 SF
Lot
0.41 ac (18,012 SF)
Zoning code
LB2
APN
351-5061-000
UPID
US92-3004927
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
COMMERCIAL (GENERAL) Current
Est. value
$735,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
RESTAURANT
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.0M
RETAIL STORES
Est. value
$910,000
MEDICAL BUILDING
Est. value
$870,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$790,000
OFFICE BUILDING
Est. value
$670,000
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
OFFICE 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
1906
Cooling
Yes
Stories
2
Units
5
Lot
0.41 ac
Current owner
From public records · entity-resolved
WELLNESS COMMONS LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1665 N WATER ST, MILWAUKEE, WI 53202-2061
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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