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Property profile & analytics
OFF-MARKET
Estimated value
$6,035,000
Apartment buildings
164th Water St Menomonee Falls, WI 53051-7931
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US92-0876457
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1998
Total area
67,032 SF
Lot
2.59 ac (112,820 SF)
Zoning code
B
APN
MNFV0011382
UPID
US92-0876457
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
by Request
Blend (final)
Blend
$6.04M
Owner & transaction history
Whpc-menomonee Falls LLC · 14 yrs held
Whpc-menomonee Falls LLC
since 2012
7 recorded transactions
Zoning & alternative use
B · Menomonee Falls, 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 Menomonee Falls submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Menomonee Falls 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
APARTMENT HOUSE (5+ UNITS)
$9,700,000
Current use
RETAIL STORES
$8,530,000
Change: -12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$8,300,000
Change: -14% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$8,015,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$6.04M
Range $5.43M – $6.64M · ±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
$90 / 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 2023Property tax & assessments
Tax year 2023
Applied tax rate
24.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1998
Heating
NONE
Units
84
Total area
67,032 SF
Lot
2.59 ac (112,820 SF)
Zoning code
B
APN
MNFV0011382
UPID
US92-0876457
Jurisdiction
WAUKESHA
Zoning & alternative use
B · Menomonee Falls, WIZoning B · permitted uses
B · Menomonee Falls, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$9.7M
RETAIL STORES
Est. value
$8.5M
COMMERCIAL (GENERAL)
Est. value
$8.3M
INDUSTRIAL (GENERAL)
Est. value
$8.0M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
1998
Heating
NONE
Units
84
Lot
2.59 ac
Current owner
From public records · entity-resolved
Whpc-menomonee Falls LLC
Entity
Mailing address
150 E GILMAN ST STE #1500, MADISON, WI 53703-1495
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 24, 2025
—
Whpc Menomonee Falls LLC
—
Deed
related
$96,382 · Wisconsin Housing Preservation
Nov 8, 2024
—
Whpc Menomonee Falls LLC
—
Deed
related
$56,225,000 · Us Bank Trust NA
Apr 20, 2012
$4,158,500
Whpc-menomonee Falls LLC
Jolly Aire Mgmt Group LLC
Grant Deed
$3,360,000 · First Business Bank
Nov 15, 2006
—
Kay L Neman
Neman,laura K
Quit Claim Deed
related
$127,000 · Guardian Cu
Oct 5, 2006
$272,000
Todd M Megna
Ohm,clifford
Warranty Deed
$217,600 · First Franklin
—
—
Whpc-menomonee Falls LLC
—
Deed Of Trust
related
$4,006,000 · Northmarq Cap
—
—
Todd M Megna
—
Deed Of Trust
related
$255,000 · Citimortgage INC
—
—
William A Rosenau
—
Deed Of Trust
related
$242,000 · Isb Community Bank
—
—
Curtis L Delie JR.
—
Deed Of Trust
related
$171,000 · Wells Fargo Bank
—
—
William A Rosenau
—
Deed Of Trust
related
$242,000 · Countrywide Bank
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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