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Property profile & analytics
OFF-MARKET
Estimated value
$8,485,000
Strip malls
234 Main St Ste 1 Waukesha, WI 53186-4646
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US92-0767693
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1997
Total area
11,961 SF
Lot
0.46 ac (20,155 SF)
Zoning code
B-2
APN
WAKC1305176001
UPID
US92-0767693
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.53M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.49M
Owner & transaction history
Mred Investment LLC · 6 yrs held
Mred Investment LLC
since 2020
Last sale
$8.5M
6 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
$10,915,000
ML approach
$10,525,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$8.49M
Range $7.64M – $9.33M · ±10% · vs last sale $8.50M (Mar 19 2020)
Last sale anchor
$8.50M
Mar 19 2020
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
$709 / 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
$16,200
Tax year 2023
Assessed value
$1,052,200
Assessed 2023
Previous assessed
$1,200,000
-12.3% YoY
Effective rate
1.54%
On assessed value
Assessed land
$85,500
Assessed improvement
$966,700
Total market value
$1,089,346
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1997
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
11,961 SF
Lot
0.46 ac (20,155 SF)
Zoning code
B-2
APN
WAKC1305176001
UPID
US92-0767693
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
1997
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
Mred Investment LLC
Entity
Mailing address
405 N 92ND ST, MILWAUKEE, WI 53226-4533
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 11, 2023
—
Dominic Ambroselli
—
Deed
related
$6,000,000 · Waterstone Bank Ssb
May 4, 2020
—
Mred Investment LLC
—
Deed
related
$500,000 · Town Bank
Mar 19, 2020
$6,735,000
Mred Investment LLC
Main Street Plaza LLC
Warranty Deed
$3,900,000 · Town Bank
—
—
Main Street Plaza LLC
—
Deed Of Trust
related
$3,520,000 · M & I Marshall & Isley Bank
—
—
Main Street Plaza LLC
—
Deed Of Trust
related
$3,675,000 · J P Morgan Chase Bank
—
—
Main Street Plaza LLC
—
Deed Of Trust
related
$440,000 · M & I Marshall & Isley Bank
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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