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Property profile & analytics
OFF-MARKET
Estimated value
$910,000
Warehouses
1630 38th St Milwaukee, WI 53215-1726
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US92-3471949
Property summary
AI-generated overview
This 7,800-square-foot industrial property, located at 1630 S 38th St, Milwaukee, WI 53215, presents a compelling investment opportunity. Built in 1956 and zoned LB-2, the building offers a blend of manufacturing and warehouse space, ideal for a variety of uses. The asking price is $895,000, translating to $114.74 per square foot. Key features include a 14-foot ceiling height, one loading dock with one dock-high door, providing convenient access for loading and unloading goods. The property boasts a large, fenced, and screened-in paved outdoor storage area, adding significant value and flexibility. Its central Milwaukee location offers easy access to major freeway systems, enhancing logistical efficiency. Recent renovations have modernized the space, making it immediately functional and ready for occupancy. The property's versatile design and ample storage options make it a highly attractive proposition for businesses seeking a well-maintained and strategically located industrial space. The seller is motivated to close a deal by the end of 2024.
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1956
Total area
7,800 SF
Lot
0.7 ac (30,600 SF)
Zoning code
LB2
APN
457-9832-000
UPID
US92-3471949
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
-
Milwaukee Fence Inc General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$960k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$569k
Blend (final)
Blend
$910k
Owner & transaction history
Milwaukee Fence INC · 19 yrs held
Milwaukee Fence INC
since 2007
Last sale
$872,000
3 recorded transactions
Zoning & alternative use
LB2 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$930,000
+120.9%
Apartment house (5+ units)
$925,000
+119.5%
Retail stores
$840,000
+99.2%
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
$940,000
ML approach
$960,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$930,000
Change: +121% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$925,000
Change: +119% · Conversion: Difficult
RETAIL STORES
$840,000
Change: +99% · Conversion: Moderate
MEDICAL BUILDING
$805,000
Change: +91% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$725,000
Change: +72% · Conversion: Moderate
OFFICE BUILDING
$620,000
Change: +47% · Conversion: Difficult
RESTAURANT
$560,000
Change: +33% · Conversion: Difficult
Blend value · Realmo final
$910k
Range $819k – $1.00M · ±10% · vs last sale $872k (Jan 6 2025)
Last sale anchor
$872k
Jan 6 2025
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
$117 / 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
$8,519
Tax year 2022
Assessed value
$357,800
Assessed 2022
Previous assessed
$357,800
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$61,200
Assessed improvement
$296,600
Land market value
$61,200
Improvement market value
$296,600
Total market value
$357,800
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1956
Heating
YES
Stories
1
Units
1
Total area
7,800 SF
Lot
0.7 ac (30,600 SF)
Zoning code
LB2
APN
457-9832-000
UPID
US92-3471949
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
AUTO REPAIR, GARAGE
Est. value
$930,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$925,000
RETAIL STORES
Est. value
$840,000
MEDICAL BUILDING
Est. value
$805,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$725,000
OFFICE BUILDING
Est. value
$620,000
RESTAURANT
Est. value
$560,000
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
RESTAURANT
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
1956
Heating
YES
Stories
1
Units
1
Lot
0.7 ac
Current owner
From public records · entity-resolved
Milwaukee Fence INC
Entity
Mailing address
1630 S 38TH ST, MILWAUKEE, WI 53215-1726
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
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
Feb 2, 2007
$370,000
Milwaukee Fence INC
Theodore F Dragotta
Warranty Deed
$185,000 · M & I Marshall & Ilsley Bank
—
—
Milwaukee Fence INC
—
Loan Modification
related
$86,000 · M&i Marshall & Ilsley Bk
—
—
Milwaukee Fence INC
—
Deed Of Trust
related
$162,000 · Miscellaneous Govt Agcy
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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