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Property profile & analytics
FOR LEASE
Office buildings
1610 N 2Nd St, Milwaukee, WI 53212
Entity Owned
7-yr Hold
Free & Clear
Property ID
US92-1133167
For Lease
1 / 3
$14 SF/Yr
1610 N 2Nd St, Milwaukee, WI 53212
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1899
Total area
92,039 SF
Lot
1.91 ac (83,200 SF)
Zoning code
C9G
APN
361-1841-110
UPID
US92-1133167
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
-
Taste of Home Publishing House
-
Jacobs Engineering Consultant
-
Mitel Business To Business Service
-
Birds and Blooms Publishing House
-
Reminisce Magazine Publishing House
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$10.72M
Blend (final)
Blend
$8.73M
Owner & transaction history
Sp Milwaukee Propcol LLC · 7 yrs held
Sp Milwaukee Propcol LLC
since 2019
6 recorded transactions
Zoning & alternative use
C9G · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$11.7M
+60.5%
Auto repair, garage
$11.0M
+50.6%
Medical building
$9.5M
+29.9%
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
$7,290,000
Current use
RESTAURANT
$11,705,000
Change: +61% · Conversion: Moderate
AUTO REPAIR, GARAGE
$10,980,000
Change: +51% · Conversion: Difficult
MEDICAL BUILDING
$9,475,000
Change: +30% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$8,565,000
Change: +17% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,985,000
Change: -4% · Conversion: Easy
RETAIL STORES
$6,735,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$8.73M
Range $7.85M – $9.60M · ±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
$95 / 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
$229,428
Tax year 2022
Assessed value
$9,635,800
Assessed 2022
Previous assessed
$9,635,800
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$1,164,700
Assessed improvement
$8,471,100
Land market value
$1,164,700
Improvement market value
$8,471,100
Total market value
$9,635,800
Applied tax rate
1.0000
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 (MULTI-STORY)
Status
For Lease
Year built
1899
Heating
NONE
Cooling
YES
Stories
2
Units
6
Total area
92,039 SF
Lot
1.91 ac (83,200 SF)
Zoning code
C9G
APN
361-1841-110
UPID
US92-1133167
Jurisdiction
MILWAUKEE
Zoning & alternative use
C9G · Milwaukee, WI
Zoning C9G · permitted uses
C9G · 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
$7.3M
RESTAURANT
Est. value
$11.7M
AUTO REPAIR, GARAGE
Est. value
$11.0M
MEDICAL BUILDING
Est. value
$9.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.6M
COMMERCIAL (GENERAL)
Est. value
$7.0M
RETAIL STORES
Est. value
$6.7M
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
RETAIL STORES
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
1899
Heating
NONE
Cooling
Yes
Stories
2
Units
6
Lot
1.91 ac
Current owner
From public records · entity-resolved
Sp Milwaukee Propcol LLC
Entity
Free & Clear · 7 yrs held
Mailing address
301 COMMERCE ST STE #3300, FORT WORTH, TX 76102-4133
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 24, 2020
—
Sp Milwaukee Proppco1 LLC
—
Deed
related
$114,000 · Wells Fargo Bank NA
Feb 6, 2019
$101,250,000
Sp Milwaukee Propcol LLC
The Brewery Works INC
Special Warranty Deed
—
Jun 13, 2017
—
1610 N 2nd Street LLC
—
Deed Of Trust
related
$52,000,000 · Us Bk
Aug 4, 2016
—
1610 N 2nd Street LLC
—
Deed
related
$25,739,422 · Us Bk
—
—
1610 N 2nd Street LLC
—
Loan Modification
related
$19,300,000 · Us Bk
—
—
1610 N 2nd Street LLC
—
Loan Modification
related
$25,739,422 · Us Bk
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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