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Property profile & analytics
OFF-MARKET
Estimated value
$35,805,000
Apartment buildings
2040 Wisconsin Ave Milwaukee, WI 53233-2098
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US92-3454983
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1957
Total area
262,109 SF
Lot
2.24 ac (97,444 SF)
Zoning code
PD
APN
389-1981-000
UPID
US92-3454983
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
-
Zipcar Car Rental Facility
-
The Marq Apartment Building Furnished Apartment Building
-
Loomis Cathy Employment Agency
-
Zipcar - The Marq Car Rental Facility
-
Greater Milwaukee Asphalt Paving General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$37.56M
Comparable Approach
Comparable
$34.02M
Blend (final)
Blend
$35.81M
Owner & transaction history
Marq LLC · 8 yrs held
Marq LLC
since 2017
6 recorded transactions
Zoning & alternative use
PD · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
$40,690,000
6.5%
$37,560,000
7%
$34,875,000
Blend value · Realmo final
$35.81M
Range $32.22M – $39.39M · ±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
$137 / 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
Tax billed
$952,688
Tax year 2022
Assessed value
$40,183,500
Assessed 2022
Previous assessed
$40,183,500
+0.0% YoY
Effective rate
2.37%
On assessed value
Assessed land
$162,900
Assessed improvement
$40,020,600
Land market value
$162,900
Improvement market value
$40,020,600
Total market value
$40,183,500
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1957
Heating
YES
Stories
7
Units
233
Total area
262,109 SF
Lot
2.24 ac (97,444 SF)
Zoning code
PD
APN
389-1981-000
UPID
US92-3454983
Jurisdiction
MILWAUKEE
Zoning & alternative use
PD · Milwaukee, WI
Zoning PD · permitted uses
PD · 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.
Building & site characteristics
From public records
Year built
1957
Heating
YES
Stories
7
Units
233
Lot
2.24 ac
Current owner
From public records · entity-resolved
Marq LLC
Entity
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 19, 2017
$42,275,000
Marq LLC
C150 2040 West Wisconsin Avenu
Grant Deed
—
Mar 13, 2014
$20,467,500
C150 2040 West Wisconsin Avenu
2040 Lofts LLC
Grant Deed
—
Jun 16, 2011
—
2040 Lofts LLC
—
Loan Modification
related
$215,000,000 · Wells Fargo Bk
Oct 2, 2007
$29,350,000
2040 Lofts LLC
2040 Wisconsin LLC
Warranty Deed
—
Sep 7, 2004
$3,250,000
2040 Wisconsin LLC
Bockl George Trust
Grant Deed
$1,625,000 · Branch Bk&tr/va
—
—
C150 2040 West Wisconsin Avenu
—
Deed Of Trust
related
$10,620,000 · Miscellaneous Ins Co
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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