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    1610 N 2Nd St Milwaukee, WI 53212
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    Property profile & analytics

    1610 N 2Nd St Milwaukee, WI 53212

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    • Office buildings
    • 92,039 SF
    • 1.91 lot acres
    For Lease
    $14 SF/Yr
    View Listing →
    Unique Office Space Available For Lease
    $14 SF/Yr
    20,684 SF

    Unique Office Space Available

    Two-story office building with fitness center and conference area.

    1610 N 2nd St, Milwaukee, WI
    View Listing
    Property ID
    US92-1133167
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Taste of Home / Publishing House
    • Jacobs / Engineering Consultant
    • Mitel / Business To Business Service
    • Birds and Blooms / Publishing House
    • Reminisce Magazine / Publishing House

    Property Details for 1610 N 2Nd St

    Year built
    1899
    Lot size
    1.91 lot acres
    Property size
    92,039 SF
    Zone code
    C9G
    Property type
    Office buildings
    APN
    361-1841-110
    APU
    3611841110

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $10,719,000
      Market price range: $3.88M - $11.3M
      AI Estimate
      $5,970,000
      Market price range: $2.42M - $7.67M

    • 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

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9124
    Latitude
    43.0517
    CBSA code
    33340
    CBSA name
    MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $229,428
    $1,164,700
    $8,471,100
    $9,635,800
    -
    $1,164,700
    $8,471,100
    $9,635,800

    Comparable in this City

    • Value Estimation
      $2,180,000
      21,045 SF

      2060 Humboldt Blvd

      OFFICE BUILDING (MULTI-STORY) • 21,045 SF
      2060 Humboldt Blvd, Milwaukee, WI 53212-3530
      View Details
    • Value Estimation by Request
      1,685 SF

      606 608th E Ctr St

      OFFICE BUILDING • 1,685 SF
      606 608th E Ctr St, Milwaukee, WI 53212
      View Details
    • Value Estimation
      $20,220,000
      241,520 SF

      4425 Prt Washington Rd

      OFFICE BUILDING • 241,520 SF
      4425 Prt Washington Rd, Glendale, WI 53212-1082
      View Details
    • Value Estimation by Request
      1,339 SF

      2134 Riverboat Rd

      OFFICE BUILDING • 1,339 SF
      2134 Riverboat Rd, Milwaukee, WI 53212-3517
      View Details
    • Value Estimation by Request
      2,033 SF

      123 Capitol Dr

      OFFICE BUILDING • 2,033 SF
      123 Capitol Dr, Milwaukee, WI 53212-1179
      View Details
    • Value Estimation
      $590,000
      11,035 SF

      435 Wn Ave

      OFFICE BUILDING (MULTI-STORY) • 11,035 SF
      435 Wn Ave, Milwaukee, WI 53212-3146
      View Details

    Similar Nearby for Sale

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      2,611 SF

      Glendale Office Building For Sale

      Office building in Glendale, Wisconsin, with rental income.
      4701 N Port Washington Rd, Glendale, WI 53212
      View Details
    • Contact for pricing
      40,000 SF

      Historic Office Building with Potential

      Renovated office building with mezzanine and rooftop patio potential.
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      94,000 SF

      Downtown Milwaukee Landmark Opportunity Zone

      Redevelopment opportunity in downtown Milwaukee near Fiserv Forum.
      1311-1325 N Martin L King Jr Dr, Milwaukee, WI 53212
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    • $884,000
      13,055 SF

      Multi-Tenant Office Property For Sale

      Well-maintained multi-tenant office property in Glendale's Northshore community.
      4701 N Port Washington Rd, Glendale, WI 53212
      View Details
    • $2,100,000
      22,500 SF

      Milwaukee Office Space For Rent

      5,500 sq ft office space available for lease.
      315 W Court St, Milwaukee, WI 53212
      View Details
    • Contact for pricing

      Halyard Park Commercial Space Available

      Commercial space available in Halyard Park's new mixed-use development.
      3317 N Dr Martin Luther King Jr Dr, Milwaukee, WI 53212
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      54,521 SF

      Downtown Milwaukee Riverwalk Office Space

      Prime, fully furnished office space on Milwaukee's scenic Riverwalk.
      100 Manpower Pl, Milwaukee, WI 53212
      View Details
    • Contact for pricing

      Downtown Milwaukee Office Sublease

      Prime office space with Riverwalk access and modern amenities.
      100 Manpower Pl, Milwaukee, WI 53212
      View Details
    • $15 SF/Yr
      133,722 SF

      Restored Landmark Office Space

      Architecturally significant office building in Glendale, Wisconsin.
      4425 North Port Washington Rd, Glendale, WI 53212
      View Details
    • Contact for pricing

      Historic Office Building on Riverwalk

      Unique office space in revitalized historic building with river views.
      1320 North Doctor Martin Luther King Junior Dr, Milwaukee, WI 53212
      View Details
    • Contact for pricing
      1,474 SF

      Unique Office Space with Amenities

      Two-story office building featuring fitness center and conference area.
      101 W Pleasant St, Milwaukee, WI 53212
      View Details
    • Contact for pricing

      Retail/Medical Office Corner Location

      Retail or medical office space in downtown Milwaukee with parking.
      220 East Pleasant St, Milwaukee, WI 53212
      View Details
    View Listing
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    Milwaukee, WI 53212
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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