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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Banks
1703 Lk St Two Rivers, WI 54241-3502
Entity Owned
Absentee Owner
Free & Clear
Property ID
US92-2872875
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2014
Total area
9,776 SF
Lot
1.14 ac (49,441 SF)
Zoning code
OSB
APN
53-000-101-014.02
UPID
US92-2872875
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
-
Bank First - Two Rivers Bank Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$455k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$815k
Blend (final)
Blend
$635k
Owner & transaction history
BANK FIRST NATIONAL
BANK FIRST NATIONAL
Zoning & alternative use
OSB · Two Rivers, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The office or service business district (OSB) is intended to provide for office and service business uses consistent with the city comprehensive plan.
Zone name
Office Service Business District
General category
COMMERCIAL
Zone area
13.35 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$850,000
+44.9%
Office building
$720,000
+22.7%
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 Two Rivers submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Two Rivers 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
$455,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$585,000
Current use
AUTO REPAIR, GARAGE
$850,000
Change: +45% · Conversion: Difficult
OFFICE BUILDING
$720,000
Change: +23% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$585,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$555,000
Change: -5% · Conversion: Difficult
WAREHOUSE, STORAGE
$470,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$635k
Range $572k – $699k · ±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
$65 / 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
$32,504
Tax year 2023
Assessed value
$1,196,700
Assessed 2023
Previous assessed
$1,196,700
+0.0% YoY
Effective rate
2.72%
On assessed value
Assessed land
$296,700
Assessed improvement
$900,000
Total market value
$1,899,000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2014
Heating
FORCED AIR
Cooling
YES
Buildings
1
Total area
9,776 SF
Lot
1.14 ac (49,441 SF)
Zoning code
OSB
APN
53-000-101-014.02
UPID
US92-2872875
Jurisdiction
MANITOWOC
Zoning & alternative use
OSB · Two Rivers, WIZoning OSB · permitted uses
OSB · Two Rivers, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The office or service business district (OSB) is intended to provide for office and service business uses consistent with the city comprehensive plan.
Zone name
Office Service Business District
General category
COMMERCIAL
Zone area
13.35 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$585,000
AUTO REPAIR, GARAGE
Est. value
$850,000
OFFICE BUILDING
Est. value
$720,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$585,000
RETAIL STORES
Est. value
$555,000
WAREHOUSE, STORAGE
Est. value
$470,000
FINANCIAL BUILDING Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
2014
Heating
FORCED AIR
Cooling
Yes
Buildings
1
Lot
1.14 ac
Current owner
From public records · entity-resolved
BANK FIRST NATIONAL
Individual
Free & Clear · 0 yrs held
Mailing address
402 N 8TH ST, MANITOWOC, WI 54220-4010
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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