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Property profile & analytics
OFF-MARKET
Estimated value
$665,000
Individual retail properties
2227 National Ave 2239, Milwaukee, WI 53204-1034
Entity Owned
8-yr Hold
Free & Clear
Property ID
US92-1231080
Property profile
Verified
Property type
Individual retail properties
Use group
DRY CLEANER
Year built
1990
Total area
5,304 SF
Lot
0.35 ac (15,039 SF)
Zoning code
LB2
APN
434-1806-100
UPID
US92-1231080
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
-
Koala-T Coin Laundry (Bike/Boat/Book/etc) Store
-
Argis ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$665k
Owner & transaction history
Nci Holdings LLC · 8 yrs held
Nci Holdings LLC
since 2018
2 recorded transactions
Zoning & alternative use
LB2 · 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$735,000
Current use
AUTO REPAIR, GARAGE
$715,000
Change: -3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$650,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$665k
Range $599k – $732k · ±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
$125 / 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
$12,376
Tax year 2022
Assessed value
$519,800
Assessed 2022
Previous assessed
$519,800
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$60,200
Assessed improvement
$459,600
Land market value
$60,200
Improvement market value
$459,600
Total market value
$519,800
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
Individual retail properties
Use group
DRY CLEANER
Status
Off-Market
Year built
1990
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
5,304 SF
Lot
0.35 ac (15,039 SF)
Zoning code
LB2
APN
434-1806-100
UPID
US92-1231080
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
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$735,000
AUTO REPAIR, GARAGE
Est. value
$715,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$650,000
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
1990
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
0.35 ac
Current owner
From public records · entity-resolved
Nci Holdings LLC
Entity
Free & Clear · 8 yrs held
Mailing address
875 N MICHIGAN AVE STE #3612, CHICAGO, IL 60611-1947
Ownership since
2018
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
Feb 8, 2018
—
Nci Holdings LLC
George Novogroder
Warranty Deed
—
Apr 2, 2010
—
George Novogroder
Novogroder/milwaukee LLC
Quit Claim Deed
related
$4,997,213 · Wells Fargo 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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