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Property profile & analytics
OFF-MARKET
Estimated value
$2,920,000
Medical Office Space
2071 Smt Ave, Milwaukee, WI 53202-1320
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US92-1277472
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1909
Total area
32,557 SF
Lot
0.78 ac (33,836 SF)
Zoning code
LB2
APN
356-0240-112
UPID
US92-1277472
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
-
Medical College Of Wisconsin College
-
Center For AIDS Intervention Research High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.92M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.21M
Blend (final)
Blend
$2.92M
Owner & transaction history
Mke Summit LLC · 2 yrs held
Mke Summit LLC
since 2024
Last sale
$2.9M
3 recorded transactions
Zoning & alternative use
LB2 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.3M
+26.7%
Restaurant
$4.1M
+23.5%
Auto repair, garage
$3.9M
+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
$2,920,000
ML approach
$2,920,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,350,000
Current use
COMMERCIAL (GENERAL)
$4,250,000
Change: +27% · Conversion: Easy
RESTAURANT
$4,140,000
Change: +24% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,885,000
Change: +16% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$3,030,000
Change: -10% · Conversion: Difficult
OFFICE BUILDING
$3,025,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$2.92M
Range $2.63M – $3.21M · ±10% · vs last sale $2.92M (Mar 13 2024)
Last sale anchor
$2.92M
Mar 13 2024
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
$90 / 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
$72,971
Tax year 2022
Assessed value
$3,064,700
Assessed 2022
Previous assessed
$3,064,700
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$676,700
Assessed improvement
$2,388,000
Land market value
$676,700
Improvement market value
$2,388,000
Total market value
$3,064,700
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
1909
Heating
NONE
Stories
2
Units
2
Total area
32,557 SF
Lot
0.78 ac (33,836 SF)
Zoning code
LB2
APN
356-0240-112
UPID
US92-1277472
Jurisdiction
MILWAUKEE
Zoning & alternative use
LB2 · Milwaukee, WI
Zoning LB2 · permitted uses
LB2 · 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
$3.4M
COMMERCIAL (GENERAL)
Est. value
$4.3M
RESTAURANT
Est. value
$4.1M
AUTO REPAIR, GARAGE
Est. value
$3.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.0M
OFFICE BUILDING
Est. value
$3.0M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1909
Heating
NONE
Stories
2
Units
2
Lot
0.78 ac
Current owner
From public records · entity-resolved
Mke Summit LLC
Entity
Mailing address
172 N BROADWAY #300, MILWAUKEE, WI 53202-6015
Ownership since
2024
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
Mar 13, 2024
$2,920,000
Mke Summit LLC
A Peter Aldrian
Warranty Deed
$2,990,000 · Northwest Bank Of Rockford
Jun 7, 2016
—
A Peter Aldrian
—
Deed
related
$1,000,000 · Tri City National Bank
—
—
A Peter Aldrian
—
Deed Of Trust
related
$200,000 · Tri Cty Nat'l Bk
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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