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Property profile & analytics
FOR SALE
Warehouses
226 N Water St Milwaukee, WI 53202
Entity Owned
10-yr Hold
Property ID
US92-0621315
For Sale
1 / 17
$7,750,000
226 N Water St, Milwaukee, WI 53202
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1914
Total area
39,450 SF
Lot
0.23 ac (10,193 SF)
Zoning code
C9G
APN
392-0988-000
UPID
US92-0621315
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
-
Mitchel On Water Apartments Apartment Building
-
Royal Enfield Experience Center Resort
-
Royal Enfield North America Headquarters Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.69M
Comparable Approach
Comparable
$1.74M
Blend (final)
Blend
$2.13M
Owner & transaction history
Mitchell On Water LLC · 10 yrs held
Mitchell On Water LLC
since 2016
6 recorded transactions
Zoning & alternative use
C9G · 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%
$2,905,000
6.5%
$2,685,000
7%
$2,490,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,130,000
Current use
Blend value · Realmo final
$2.13M
Range $1.91M – $2.34M · ±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
$54 / 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
$151,660
Tax year 2022
Assessed value
$6,369,600
Assessed 2022
Previous assessed
$6,369,600
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$305,800
Assessed improvement
$6,063,800
Land market value
$305,800
Improvement market value
$6,063,800
Total market value
$6,369,600
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Sale
Year built
1914
Heating
YES
Cooling
YES
Stories
4
Units
39
Total area
39,450 SF
Lot
0.23 ac (10,193 SF)
Zoning code
C9G
APN
392-0988-000
UPID
US92-0621315
Jurisdiction
MILWAUKEE
Zoning & alternative use
C9G · Milwaukee, WI
Zoning C9G · permitted uses
C9G · 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
WAREHOUSE, STORAGE Current
Est. value
$2.1M
WAREHOUSE, STORAGE Current
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
1914
Heating
YES
Cooling
Yes
Stories
4
Units
39
Lot
0.23 ac
Current owner
From public records · entity-resolved
Mitchell On Water LLC
Entity
Mailing address
8575 W FRST HOME AVE STE #160, GREENFIELD, WI 53228-3469
Ownership since
2016
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
Jan 5, 2022
—
Mitchell On Water LLC
—
Deed
related
$296,000 · Marathon Bank
Feb 1, 2016
$1,800,000
Mitchell On Water LLC
Ec Acquisitions LLC
Warranty Deed
$1,425,000 · Anchorbank Fsb
Feb 1, 2016
—
Ec Acquisitions LLC
Mitchell Jerry & B Trust
Grant Deed
—
Aug 6, 2015
$1,800,000
Ec Acquisitions LLC
Mitchell Jerry & B Trust
Dual Purpose Document
related
$1,266,300 · Mitchell Jerry & B Tr (pt)
Apr 30, 2014
—
Mitchell,jerry & Bernadette Trust
Jerry A Mitchell
Affidavit Of Death
related
—
—
—
Mitchell On Water LLC
—
Loan Modification
related
$5,374,900 · Anchorbank Fsb
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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