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Property profile & analytics
OFF-MARKET
Commercial real estate
16825 Observatory Rd New Berlin, WI 53151-5539
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US92-0219723
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2003
Total area
2,506 SF
Lot
0.54 ac (23,610 SF)
Zoning code
B2
APN
NBC 1238995001
UPID
US92-0219723
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
by Request
Owner & transaction history
Leimar Ventures LLC · 1 yrs held
Leimar Ventures LLC
since 2025
Last sale
$510,000
3 recorded transactions
Zoning & alternative use
B2 · New Berlin, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$5,714
Tax year 2023
Assessed value
$379,500
Assessed 2023
Previous assessed
$379,500
+0.0% YoY
Effective rate
1.51%
On assessed value
Assessed land
$73,200
Assessed improvement
$306,300
Total market value
$439,500
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
2003
Heating
NONE
Total area
2,506 SF
Lot
0.54 ac (23,610 SF)
Zoning code
B2
APN
NBC 1238995001
UPID
US92-0219723
Jurisdiction
WAUKESHA
Zoning & alternative use
B2 · New Berlin, WI
Zoning B2 · permitted uses
B2 · 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.
Building & site characteristics
From public records
Year built
2003
Heating
NONE
Lot
0.54 ac
Current owner
From public records · entity-resolved
Leimar Ventures LLC
Entity
Mailing address
309TH COMMERCIAL DR, NORTH PRAIRIE, WI 53153-9458
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 2025
$510,000
Leimar Ventures LLC
Jane L Walker
Personal Rep. Deed
$300,000 · Spring Bank
Oct 5, 2021
—
Tara H Hoepner
—
Deed
related
$237,737 · Us Bank NA
Feb 8, 2011
—
Tara H Cardwell
Jenkins,paul W
Quit Claim Deed
related
—
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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