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Property profile & analytics
OFF-MARKET
Estimated value
$10,755,000
Medical Office Space
2015 Newport Ave 2025, Milwaukee, WI 53211-2906
Individually Owned
15-yr Hold
Free & Clear
Property ID
US92-1331956
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1977
Total area
72,121 SF
Lot
10.93 ac (475,937 SF)
Zoning code
TL
APN
279-0397-111
UPID
US92-1331956
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
-
Heidi Heimler, PHD Physician Medical Clinic
-
Stemberger Robert S DDS Dental Office
-
Dr. Claudia A. Altmann, MD Physician
-
Dr. Joanna E. Galezowska, MD Physician
-
Dr. Thomas R. Puetz, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$12.79M
Comparable Approach
Comparable
$10.74M
Blend (final)
Blend
$10.76M
Owner & transaction history
Board Of Regents & Univ & Wisconsin S · 15 yrs held
Board Of Regents & Univ & Wisconsin S
since 2011
3 recorded transactions
Zoning & alternative use
TL · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$10.2M
+37.9%
Restaurant
$9.2M
+23.5%
Auto repair, garage
$8.6M
+15.9%
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 Milwaukee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milwaukee 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%
$13,860,000
6.5%
$12,790,000
7%
$11,880,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$7,425,000
Current use
COMMERCIAL (GENERAL)
$10,235,000
Change: +38% · Conversion: Easy
RESTAURANT
$9,170,000
Change: +24% · Conversion: Difficult
AUTO REPAIR, GARAGE
$8,605,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$7,760,000
Change: +5% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,710,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$10.76M
Range $9.68M – $11.83M · ±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
$149 / 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 2022Property tax & assessments
Tax year 2022
Assessed value
$20,155,000
Assessed 2022
Previous assessed
$20,155,000
+0.0% YoY
Assessed land
$695,700
Assessed improvement
$19,459,300
Applied tax rate
1.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1977
Heating
YES
Cooling
YES
Stories
8
Units
2
Total area
72,121 SF
Lot
10.93 ac (475,937 SF)
Zoning code
TL
APN
279-0397-111
UPID
US92-1331956
Jurisdiction
MILWAUKEE
Zoning & alternative use
TL · Milwaukee, WI
Zoning TL · permitted uses
TL · Milwaukee, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Milwaukee. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$7.4M
COMMERCIAL (GENERAL)
Est. value
$10.2M
RESTAURANT
Est. value
$9.2M
AUTO REPAIR, GARAGE
Est. value
$8.6M
RETAIL STORES
Est. value
$7.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.7M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1977
Heating
YES
Cooling
Yes
Stories
8
Units
2
Lot
10.93 ac
Current owner
From public records · entity-resolved
Board Of Regents & Univ & Wisconsin S
Individual
Free & Clear · 15 yrs held
Mailing address
1220 LINDEN DR, MADISON, WI 53706-1525
Ownership since
2011
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
Jan 10, 2011
$20,155,000
Board Of Regents & Univ & Wisconsin S
Columbia St Marys INC
Warranty Deed
—
Mar 27, 2008
$2,916,000
Columbia Stmarys INC
Columbia Center INC
Warranty Deed
—
Jun 28, 2005
—
Columbia Stmarys INC
Columbia Hospital INC
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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