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Property profile & analytics
OFF-MARKET
Estimated value
$1,120,000
Office buildings
223 Wisconsin Ave Waukesha, WI 53186-4968
Individually Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US92-1037018
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1905
Total area
8,239 SF
Lot
0.47 ac (20,473 SF)
Zoning code
B-2
APN
WAKC1308068
UPID
US92-1037018
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
-
Kennedy Kevin M DDS Dental Office
-
WisHope Alignment Center Charitable Organization Social Service Agency
-
Plzak Jenny L Counselor
-
Jefferson D. Ferguson, MS Counselor
-
WisHope Recovery Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.56M
Blend (final)
Blend
$1.12M
Owner & transaction history
Fermin Rivera · 8 yrs held
Fermin Rivera
since 2018
7 recorded transactions
Zoning & alternative use
B-2 · Waukesha, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
To provide appropriate regulations to ensure the compatibility of the diverse uses typical of the downtown area without inhibiting the development of commercial, cultural, entertainment, and other urban activities which contribute to its role as the heart of the City
Zone name
Central Business
General category
COMMERCIAL
Zone area
69.73 ac
Source
Realmo
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.12M
Range $1.01M – $1.23M · ±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
$136 / 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
$8,172
Tax year 2023
Assessed value
$538,300
Assessed 2023
Previous assessed
$481,000
+11.9% YoY
Effective rate
1.52%
On assessed value
Assessed land
$235,200
Assessed improvement
$303,100
Total market value
$557,304
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1905
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
8,239 SF
Lot
0.47 ac (20,473 SF)
Zoning code
B-2
APN
WAKC1308068
UPID
US92-1037018
Jurisdiction
WAUKESHA
Zoning & alternative use
B-2 · Waukesha, WIZoning 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
Zoning description
To provide appropriate regulations to ensure the compatibility of the diverse uses typical of the downtown area without inhibiting the development of commercial, cultural, entertainment, and other urban activities which contribute to its role as the heart of the City
Zone name
Central Business
General category
COMMERCIAL
Zone area
69.73 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1905
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.47 ac
Current owner
From public records · entity-resolved
Fermin Rivera
Individual
Free & Clear · 8 yrs held
Mailing address
54TH SUTTON CT, SUSSEX, WI 53089-4505
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 30, 2018
—
Fermin Rivera
Altmann,william R & Lynn M
Warranty Deed
—
Mar 30, 2018
$480,000
Rgk Properties LLC
Fermn Rivera
Warranty Deed
—
Jan 25, 2013
$430,000
Wiliam R Altmann
Prn Properties LLC
Grant Deed
—
Mar 6, 2012
$430,000
William R Altmann
Prn Properties LLC
Grant Deed
—
Feb 10, 2012
$430,000
Fermin Rivera
Prn Properties LLC
Dual Purpose Document
$430,000 · Prn Properties LLC
Nov 30, 2006
—
Prn Properties LLC
Netzow,marie R
Quit Claim Deed
related
—
Nov 2, 2006
—
Marie R Netzow
Netzow Paul R Trust
Quit Claim Deed
related
—
Sep 28, 2006
—
Netzow Paul R Trust
Prn Investments 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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