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Property profile & analytics
OFF-MARKET
Estimated value
$1,330,000
Office buildings
1615 22nd St Milwaukee, WI 53204-2548
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US92-0741407
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1967
Total area
33,351 SF
Lot
0.66 ac (28,586 SF)
Zoning code
RM6
APN
459-0138-111
UPID
US92-0741407
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
-
Nourish MKE Mitchell Street (Friedens Community Ministries at Despensa de la Paz) Charitable Organization Social Service Agency
-
C A Homeless Outreach Programs Social Service Agency Charitable Organization
-
Council For the Spanish Spkng Social Service Agency Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.79M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.78M
Blend (final)
Blend
$1.33M
Owner & transaction history
Milwaukee County Housing · 2 yrs held
Milwaukee County Housing
since 2023
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
RM6 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$1,435,000
ML approach
$1,785,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.33M
Range $1.20M – $1.46M · ±10% · vs last sale $1.10M (Aug 30 2023)
Last sale anchor
$1.10M
Aug 30 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
$40 / 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
$27,693
Tax year 2022
Assessed value
$1,163,100
Assessed 2022
Previous assessed
$1,163,100
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$148,100
Assessed improvement
$1,015,000
Land market value
$148,100
Improvement market value
$1,015,000
Total market value
$1,163,100
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
Off-Market
Year built
1967
Heating
YES
Stories
3
Units
34
Total area
33,351 SF
Lot
0.66 ac (28,586 SF)
Zoning code
RM6
APN
459-0138-111
UPID
US92-0741407
Jurisdiction
MILWAUKEE
Zoning & alternative use
RM6 · Milwaukee, WI
Zoning RM6 · permitted uses
RM6 · 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.
Building & site characteristics
From public records
Year built
1967
Heating
YES
Stories
3
Units
34
Lot
0.66 ac
Current owner
From public records · entity-resolved
Milwaukee County Housing
Entity
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 30, 2023
$1,100,000
Milwaukee County Housing
1615 South 22nd Street LLC
Special Warranty Deed
—
Oct 5, 2020
—
1615 South 22nd Street LLC
—
Deed
related
$2,140,000 · Oostburg State Bank
May 14, 2019
—
1700 Packard Avenue LLC
—
Deed
related
$450,000 · Tri City National Bank
Feb 25, 2016
$800,000
1615 South 22nd Street LLC
The Spanish Speaking INC
Warranty Deed
$640,000 · Cornerstone Community Bank
Jan 22, 2008
$1,900,000
Council Of The Spanish Speaking I
Wisconsin Properties LLC
Grant Deed
—
—
—
Council Of The Spanish Speaking I
—
Deed Of Trust
related
$500,000 · Forward Community Investments INC Forward Community Investments INC
—
—
Council Of The Spanish Speaking I
—
Deed Of Trust
related
$60,000 · Forward Communityinvestments INC Forward Communityinvestments 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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