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Property profile & analytics
OFF-MARKET
Estimated value
$3,140,000
Apartment buildings
1821 Mdw Ln Pewaukee, WI 53072-5506
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US92-2050844
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2013
Total area
17,504 SF
Lot
7.66 ac (333,495 SF)
Zoning code
RM-2
APN
WAKC0974093002
UPID
US92-2050844
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
-
Meadow Ridge Apartment Complex
-
IDEALEE Marketing & Advertising IT Consulting Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.86M
Comparable Approach
Comparable
$1.97M
Blend (final)
Blend
$3.14M
Owner & transaction history
Meadow Ridge Waukesha LLC · 9 yrs held
Meadow Ridge Waukesha LLC
since 2016
2 recorded transactions
Zoning & alternative use
RM-2 · Pewaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
ict. § 340-4.11 Rs-7 Single-Family Residential District. § 340-4.12 Rd-1 Two-Family Residential District. § 340-4.13 Rd-2 Two-Family Residential District. § 340-4.14 Rm-1 Multiple-Family Residential District. § 340-4.15 Rm-2 Multiple-Family Residential District. § 340-4.16 Rm-3 Multiple-Family Residential District. § 340-4.17 B-1 Neighborhood Business Distri…
Zone name
Multifamily Residential
General category
RESIDENTIAL
Zone area
17.43 ac
Top alternative use upside
Restaurant
$4.8M
+11.2%
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 Pewaukee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pewaukee 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%
$3,100,000
6.5%
$2,860,000
7%
$2,655,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,295,000
Current use
RESTAURANT
$4,775,000
Change: +11% · Conversion: Difficult
OFFICE BUILDING
$3,550,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$3.14M
Range $2.83M – $3.45M · ±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
$179 / 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
$111,614
Tax year 2023
Assessed value
$7,354,700
Assessed 2023
Previous assessed
$5,753,800
+27.8% YoY
Effective rate
1.52%
On assessed value
Assessed land
$761,000
Assessed improvement
$6,593,700
Total market value
$7,614,349
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
2013
Heating
NONE
Cooling
CENTRAL
Stories
2
Total area
17,504 SF
Lot
7.66 ac (333,495 SF)
Zoning code
RM-2
APN
WAKC0974093002
UPID
US92-2050844
Jurisdiction
WAUKESHA
Zoning & alternative use
RM-2 · Pewaukee, WIZoning RM-2 · permitted uses
RM-2 · Pewaukee, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
ict. § 340-4.11 Rs-7 Single-Family Residential District. § 340-4.12 Rd-1 Two-Family Residential District. § 340-4.13 Rd-2 Two-Family Residential District. § 340-4.14 Rm-1 Multiple-Family Residential District. § 340-4.15 Rm-2 Multiple-Family Residential District. § 340-4.16 Rm-3 Multiple-Family Residential District. § 340-4.17 B-1 Neighborhood Business District. § 340-4.18 B-2 Community Business District. § 340-4.19 B-3 General Business Dist
Zone name
Multifamily Residential
General category
RESIDENTIAL
Zone area
17.43 ac
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$4.3M
RESTAURANT
Est. value
$4.8M
OFFICE BUILDING
Est. value
$3.6M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
OFFICE BUILDING
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
2013
Heating
NONE
Cooling
Yes
Stories
2
Lot
7.66 ac
Current owner
From public records · entity-resolved
Meadow Ridge Waukesha LLC
Entity
Mailing address
1295 NORTHLAND DR STE #270, MENDOTA HEIGHTS, MN 55120-1373
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
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
Nov 11, 2016
—
Meadow Ridge Waukesha LLC
—
Deed
related
$420,000 · Private Individual
—
—
Meadow Ridge Waukesha LLC
—
Deed Of Trust
related
$420,000 · Private Individual
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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