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    2402 Franklin St Manitowoc, WI 54220-4800
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    Property profile & analytics

    2402 Franklin St, Manitowoc, WI 54220-4800

    View on Map
    • Residential income homes
    • 90,715 SF
    • 0.51 lot acres
    Off-Market
    Property ID
    US92-0786768
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $3,000,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Bakery Beauties Soap & Candle Co. / (Bike/Boat/Book/etc) Store
    • Artist Lofts / Apartment Building

    Property Details for 2402 Franklin St

    Year built
    1929
    Lot size
    0.51 lot acres
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    52-000-200-220.00
    APU
    5200020022000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 2, 2015 $300,000 Artist Lofts LLC Bamco Real Estate LLC Warranty Deed —
    Apr 4, 2005 $165,000 Bamco Real Estate LLC Agm Corporation Warranty Deed —
    — — Artist Lofts LLC — Deed Of Trust · related $255k · Community Dev Authority/manito
    — — Artist Lofts LLC — Deed Of Trust · related $357k · City Of Manitowoc

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,095,000
      6.5%
      $2,855,000
      7%
      $2,650,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,136,000
      Market price range: $3.14M - $17.3M
      AI Estimate
      $3,011,000
      Market price range: $3.01M - $7.75M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Manitowoc
    County
    Manitowoc
    State
    Wisconsin
    Longitude
    -87.6786
    Latitude
    44.0909
    CBSA code
    31820
    CBSA name
    MANITOWOC, WI MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $13,732
    $44,000
    $791,300
    $835,300
    -
    $44,047
    $792,153
    $836,200

    Comparable in this City

    • Value Estimation
      $2,735,000
      38,560 SF

      1632 30th St

      APARTMENT HOUSE (UNDER 5 UNITS)
      1632 30th St, Manitowoc, WI 54220-7213
      View Details
    • Value Estimation by Request
      3,968 SF

      2805 10th St

      APARTMENT HOUSE (UNDER 5 UNITS)
      2805 10th St, Manitowoc, WI 54220-6908
      View Details
    • Value Estimation
      $2,535,000
      69,270 SF

      1500 3rd St

      APARTMENT HOUSE (UNDER 5 UNITS)
      1500 3rd St, Manitowoc, WI 54220-2000
      View Details
    • Value Estimation
      $1,690,000
      28,080 SF

      706 8th St

      APARTMENT HOUSE (UNDER 5 UNITS)
      706 8th St, Manitowoc, WI 54220-3962
      View Details
    • Value Estimation
      $680,000
      19,296 SF

      718 8th St

      APARTMENT HOUSE (UNDER 5 UNITS)
      718 8th St, Manitowoc, WI 54220-3963
      View Details
    • Value Estimation by Request
      3,165 SF

      1117 8th St

      APARTMENT HOUSE (UNDER 5 UNITS)
      1117 8th St, Manitowoc, WI 54220-5309
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Restaurant with apartment and parking lot in Manitowoc, Wisconsin.
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      Well-Maintained Manitowoc Duplex For Sale

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      1,728 SF

      Manitowoc Multifamily Investment Opportunity

      Two-unit property with strong rental history in Manitowoc, Wisconsin.
      921 S 13Th St, Manitowoc, WI 54220
      View Details
    • Contact for pricing
      2,244 SF

      New Executive Townhouse Condominiums

      Spacious 4-bedroom condominiums with pond views, coming soon.
      1934 Ravenswood Ln, Manitowoc, WI 54220
      View Details
    • Contact for pricing
      2,244 SF

      New Townhouse Condominiums Available

      Spacious 4-bedroom condominiums with pond views, coming soon.
      1936 Ravenswood Ln, Manitowoc, WI 54220
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      4,875 SF

      Manitowoc Retail Center Lease Opportunity

      Retail space available in upcoming Manitowoc Retail Center.
      3810 Calumet Ave, Manitowoc, WI 54220
      View Details
    • $13 SF/Yr
      2,300 SF

      Manitowoc Office Space For Lease

      2,300 sq ft office space available for lease.
      920 State St, Manitowoc, WI 54220
      View Details
    • Contact for pricing
      2,338 SF

      Retail Space in Manitowoc

      Retail space available for lease in Manitowoc, Wisconsin.
      4530 Calumet Ave, Manitowoc, WI 54220
      View Details
    • $13 SF/Yr
      1,500 SF

      High Visibility Office Lease Space

      Class B office space in high-traffic location near waterfront.
      1 E Waldo Blvd, Manitowoc, WI 54220
      View Details
    • $6 SF/Yr
      15,200 SF

      Industrial Space with Dock Access

      15,200 SF industrial space with potential build-to-suit addition.
      1311 Spring St, Manitowoc, WI 54220
      View Details
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    Manitowoc, WI 54220-4800
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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