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Property profile & analytics
OFF-MARKET
Estimated value
$3,095,000
Warehouses
1900 Airport Rd Waukesha, WI 53188-2478
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US92-1272721
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1997
Total area
37,450 SF
Lot
4.44 ac (193,406 SF)
Zoning code
M-3
APN
WAKC0997092
UPID
US92-1272721
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
-
Cork Medical Medical Supply Store
-
Financial Solutions Financial Advisor
-
IDAC (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.55M
Comparable Approach
Comparable
$3.49M
Blend (final)
Blend
$3.10M
Owner & transaction history
Badger Property LLC · 6 yrs held
Badger Property LLC
since 2019
2 recorded transactions
Zoning & alternative use
M-3 · Waukesha, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
To provide for the development of an attractive and aesthetic grouping of limited light industrial uses, offices, corporate headquarters, and support facilities in a park like setting, the district is further intended to promote properly arranged traffic and parking facilities, and to promote landscaping which will provide for an attractive setting, minimizi…
Zone name
Limited Business And Industrial Park
General category
INDUSTRIAL
Zone area
390.47 ac
Source
Realmo
Top alternative use upside
Retail stores
$4.8M
+4.7%
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 Waukesha submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waukesha 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%
$2,755,000
6.5%
$2,545,000
7%
$2,365,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,550,000
Current use
RETAIL STORES
$4,765,000
Change: +5% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$4,480,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$3.10M
Range $2.79M – $3.40M · ±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
$83 / 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
$45,213
Tax year 2023
Assessed value
$2,979,700
Assessed 2023
Previous assessed
$1,918,000
+55.4% YoY
Effective rate
1.52%
On assessed value
Assessed land
$600,800
Assessed improvement
$2,378,900
Total market value
$3,084,895
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1997
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
37,450 SF
Lot
4.44 ac (193,406 SF)
Zoning code
M-3
APN
WAKC0997092
UPID
US92-1272721
Jurisdiction
WAUKESHA
Zoning & alternative use
M-3 · Waukesha, WIZoning M-3 · permitted uses
M-3 · Waukesha, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
To provide for the development of an attractive and aesthetic grouping of limited light industrial uses, offices, corporate headquarters, and support facilities in a park like setting, the district is further intended to promote properly arranged traffic and parking facilities, and to promote landscaping which will provide for an attractive setting, minimizing adverse effects upon the adjoining or surrounding areas
Zone name
Limited Business And Industrial Park
General category
INDUSTRIAL
Zone area
390.47 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.6M
RETAIL STORES
Est. value
$4.8M
INDUSTRIAL (GENERAL)
Est. value
$4.5M
WAREHOUSE, STORAGE Current
RETAIL STORES
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
1997
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
4.44 ac
Current owner
From public records · entity-resolved
Badger Property LLC
Entity
Mailing address
2100 AIRPORT RD, WAUKESHA, WI 53188-2454
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
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
Apr 22, 2026
—
Badger Property LLC
—
Deed
related
$20,372,000 · Bmo Harris Bank
Sep 11, 2019
$2,601,500
Badger Property LLC
Gkm Investments LLC
Special Warranty Deed
$1,948,000 · 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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