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Property profile & analytics
OFF-MARKET
Estimated value
$1,010,000
Investment properties
200 Madison St Waukesha, WI 53188-5148
Individually Owned
3-yr Hold
Free & Clear
Property ID
US92-0685630
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1900
Total area
6,508 SF
Lot
0.09 ac (3,920 SF)
Zoning code
B-2
APN
WAKC1305306
UPID
US92-0685630
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
-
Maddy's Bar and Music Lounge Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.25M
CAP Approach
CAP
$1.19M
Comparable Approach
Comparable
$869k
Blend (final)
Blend
$1.01M
Owner & transaction history
Kasper Roth · 3 yrs held
Kasper Roth
since 2022
Last sale
$725,000
5 recorded transactions
Zoning & alternative use
B-2 · Waukesha, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.6M
+64.8%
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 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
$1,300,000
ML approach
$1,245,000
CAP Approach
CAP Return
Estimation
6%
$1,290,000
6.5%
$1,190,000
7%
$1,105,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$945,000
Current use
OFFICE BUILDING
$1,555,000
Change: +65% · Conversion: Easy
RETAIL STORES
$830,000
Change: -12% · Conversion: Easy
WAREHOUSE, STORAGE
$790,000
Change: -16% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$780,000
Change: -18% · Conversion: Moderate
Blend value · Realmo final
$1.01M
Range $909k – $1.11M · ±10% · vs last sale $725k (Sep 2 2022)
Last sale anchor
$725k
Sep 2 2022
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
$155 / 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
$14,583
Tax year 2023
Assessed value
$652,200
Assessed 2023
Previous assessed
$298,000
+118.9% YoY
Effective rate
2.24%
On assessed value
Assessed land
$76,100
Assessed improvement
$576,100
Total market value
$675,226
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1900
Heating
HOT WATER
Cooling
CENTRAL
Stories
2
Total area
6,508 SF
Lot
0.09 ac (3,920 SF)
Zoning code
B-2
APN
WAKC1305306
UPID
US92-0685630
Jurisdiction
WAUKESHA
Zoning & alternative use
B-2 · Waukesha, WI
Zoning B-2 · permitted uses
B-2 · Waukesha, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Waukesha. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$945,000
OFFICE BUILDING
Est. value
$1.6M
RETAIL STORES
Est. value
$830,000
WAREHOUSE, STORAGE
Est. value
$790,000
INDUSTRIAL (GENERAL)
Est. value
$780,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
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
1900
Heating
HOT WATER
Cooling
Yes
Stories
2
Lot
0.09 ac
Current owner
From public records · entity-resolved
Kasper Roth
Individual
Free & Clear · 3 yrs held
Mailing address
1216 ELLIS ST, WAUKESHA, WI 53186-5627
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 21, 2025
—
Kasper Roth
—
Deed
related
$25,000 · Waukesha City
Feb 9, 2024
—
Kasper Roth
—
Deed
related
$75,000 · Waukesha City
Sep 2, 2022
$725,000
Kasper Roth
Schlei Trust
Land Contract
—
Mar 20, 2009
—
Gary L Schlei
Schlei,gary L
Quit Claim Deed
related
—
—
—
Schlei Gary L & Karen F Trust
—
Deed Of Trust
related
$100,000 · Waukesha State Bank
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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