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Property profile & analytics
OFF-MARKET
Estimated value
$2,435,000
Hotels
2308 Wisconsin Ave 2324, Milwaukee, WI 53233-1826
Individually Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US92-0922033
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1927
Total area
129,869 SF
Lot
2.69 ac (117,394 SF)
Zoning code
CS
APN
389-2001-000
UPID
US92-0922033
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
-
The Fitz Restaurant
-
Ambassador Hotel Milwaukee, Trademark Collection by Wyndham Hotel & Motel
-
Deco Catering Co Take-out & Catering Catering Service
-
Deco Café Cafe & Coffee Shop
-
A Goodman’s Desserts Bakery Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.13M
Blend (final)
Blend
$2.44M
Owner & transaction history
Ambassadors · 6 yrs held
Ambassadors
since 2020
7 recorded transactions
Zoning & alternative use
CS · 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
HOTEL/MOTEL
$3,450,000
Current use
Blend value · Realmo final
$2.44M
Range $2.19M – $2.68M · ±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
$19 / 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
$204,073
Tax year 2022
Assessed value
$8,570,900
Assessed 2022
Previous assessed
$8,570,900
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$469,600
Assessed improvement
$8,101,300
Land market value
$469,600
Improvement market value
$8,101,300
Total market value
$8,570,900
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1927
Heating
YES
Stories
8
Units
494
Total area
129,869 SF
Lot
2.69 ac (117,394 SF)
Zoning code
CS
APN
389-2001-000
UPID
US92-0922033
Jurisdiction
MILWAUKEE
Zoning & alternative use
CS · Milwaukee, WI
Zoning CS · permitted uses
CS · 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
HOTEL/MOTEL Current
Est. value
$3.5M
HOTEL/MOTEL 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
1927
Heating
YES
Stories
8
Units
494
Lot
2.69 ac
Current owner
From public records · entity-resolved
Ambassadors
Individual
Mailing address
624 N 24TH ST, MILWAUKEE, WI 53233-1801
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 12, 2020
—
Ambassadors
—
Deed
related
$13,052,400 · Associated Bk
Oct 10, 2016
—
Ambassador Ent LLC
—
Deed
related
$12,237,844 · Associated Bk
Mar 9, 2012
—
Ambassador Ent LLC
—
Loan Modification
related
$13,930,000 · Bmo Harris Bk NA
—
—
Ambassador Ent LLC
—
Deed Of Trust
related
$750,000 · M&i Marshall & Ilsley Bk
—
—
Ambassador Ent LLC
—
Deed Of Trust
related
$13,052,400 · Associated Bk
—
—
Ambassador Ent LLC
—
Deed Of Trust
related
$1,000,000 · M&i Marshall & Ilsley Bk
—
—
Ambassador Ent LLC
—
Loan Modification
related
$12,237,844 · Associated Bk
—
—
Ambassadors
—
Deed Of Trust
related
$13,052,400 · Associated Bk
—
—
Ambassador Ent LLC
—
Loan Modification
related
$1,300,000 · M&i Marshall & Ilsley 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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