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Property profile & analytics
OFF-MARKET
Estimated value
$695,000
Commercial real estate
16505 National Ave New Berlin, WI 53151-5513
Entity Owned
~
Est. High Equity
Property ID
US92-0039294
Property summary
AI-generated overview
This exceptional 7,769 square foot medical office building in New Berlin, Wisconsin, presents a unique leasing opportunity. Located at 16505 W National Ave, 53151, this property offers multiple suites for lease, with a minimum divisible space of 2,280 square feet and a maximum contiguous space of 5,489 square feet. The entire building, totaling 7,769 square feet, is currently vacant and ready for immediate occupancy. Built in 1983, the building sits on a 0.89-acre lot and provides ample parking with 35 spaces available for tenants and their clients. The property is conveniently located in Waukesha County, offering easy access to major roadways and local amenities. This executive office space is ideal for a variety of medical practices or businesses seeking a well-maintained and spacious location. The property's size and layout offer flexibility for customizing the space to meet specific business needs. Interested parties are encouraged to inquire about lease terms and availability. This is a prime opportunity to establish a presence in a thriving New Berlin community.
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1982
Total area
5,115 SF
Lot
0.89 ac (38,943 SF)
Zoning code
O1
APN
NBC 1238998
UPID
US92-0039294
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
$935k
Comparable Approach
Comparable
$933k
Blend (final)
Blend
$695k
Owner & transaction history
Cedar Corporation
Cedar Corporation
since 2025
Last sale
$685,000
2 recorded transactions
Zoning & alternative use
O1 · New Berlin, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.0M
+68.7%
Retail stores
$650,000
+5.8%
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 New Berlin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Berlin 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%
$1,015,000
6.5%
$935,000
7%
$870,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$615,000
Current use
OFFICE BUILDING
$1,040,000
Change: +69% · Conversion: Easy
RETAIL STORES
$650,000
Change: +6% · Conversion: Easy
INDUSTRIAL (GENERAL)
$610,000
Change: -1% · Conversion: Moderate
WAREHOUSE, STORAGE
$495,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$695k
Range $626k – $765k · ±10% · vs last sale $685k (Jul 6 2025)
Last sale anchor
$685k
Jul 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
$136 / 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
Tax billed
$12,141
Tax year 2023
Assessed value
$804,900
Assessed 2023
Previous assessed
$804,900
+0.0% YoY
Effective rate
1.51%
On assessed value
Assessed land
$136,400
Assessed improvement
$668,500
Total market value
$932,000
Applied tax rate
3,925.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1982
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
2
Total area
5,115 SF
Lot
0.89 ac (38,943 SF)
Zoning code
O1
APN
NBC 1238998
UPID
US92-0039294
Jurisdiction
WAUKESHA
Zoning & alternative use
O1 · New Berlin, WI
Zoning O1 · permitted uses
O1 · New Berlin, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Berlin. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$615,000
OFFICE BUILDING
Est. value
$1.0M
RETAIL STORES
Est. value
$650,000
INDUSTRIAL (GENERAL)
Est. value
$610,000
WAREHOUSE, STORAGE
Est. value
$495,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
1982
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
2
Lot
0.89 ac
Current owner
From public records · entity-resolved
Cedar Corporation
Entity
Mailing address
108 W MAPLEWOOD CT, MEQUON, WI 53092-5981
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 6, 2025
$685,000
Cedar Corporation
Seter Realty LLC
Warranty Deed
—
Jun 21, 2007
$650,000
Seter Realty LLC
Wheaton Franciscan Health Care Sout
Special Warranty Deed
$588,721 · Jpmorgan Chase Bank NA
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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