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Property profile & analytics
OFF-MARKET
Estimated value
$1,095,000
Office buildings
2500 Lincoln Ave Milwaukee, WI 53215-2575
Individually Owned
1-yr Hold
Free & Clear
Property ID
US92-3497022
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2007
Total area
19,008 SF
Lot
0.58 ac (25,200 SF)
Zoning code
LB1
APN
470-3617-112
UPID
US92-3497022
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
-
Spine and Joint Institute of Milwaukee Medical Clinic
-
Catholic Knights Church Mosque
-
Catholic Financial Life Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.26M
Blend (final)
Blend
$1.10M
Owner & transaction history
Spine And Joint Inst Of Milwaukee I · 1 yrs held
Spine And Joint Inst Of Milwaukee I
since 2024
Last sale
$900,000
4 recorded transactions
Zoning & alternative use
LB1 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.8M
+17.4%
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
OFFICE BUILDING
$1,505,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,770,000
Change: +17% · Conversion: Difficult
RESTAURANT
$1,365,000
Change: -9% · Conversion: Moderate
Blend value · Realmo final
$1.10M
Range $986k – $1.20M · ±10% · vs last sale $900k (Aug 8 2024)
Last sale anchor
$900k
Aug 8 2024
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
$58 / 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
$18,458
Tax year 2022
Assessed value
$775,200
Assessed 2022
Previous assessed
$775,200
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$75,600
Assessed improvement
$699,600
Land market value
$75,600
Improvement market value
$699,600
Total market value
$775,200
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
2007
Heating
YES
Cooling
YES
Stories
2
Units
33
Total area
19,008 SF
Lot
0.58 ac (25,200 SF)
Zoning code
LB1
APN
470-3617-112
UPID
US92-3497022
Jurisdiction
MILWAUKEE
Zoning & alternative use
LB1 · Milwaukee, WI
Zoning LB1 · permitted uses
LB1 · 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
OFFICE BUILDING Current
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.8M
RESTAURANT
Est. value
$1.4M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
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
2007
Heating
YES
Cooling
Yes
Stories
2
Units
33
Lot
0.58 ac
Current owner
From public records · entity-resolved
Spine And Joint Inst Of Milwaukee I
Individual
Free & Clear · 1 yrs held
Mailing address
16TH STONE RDG DR, WAUKESHA, WI 53188-1194
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 8, 2024
$900,000
Spine And Joint Inst Of Milwaukee I
Westbury Bank
Warranty Deed
—
Nov 3, 2006
$325,000
Continental Savings Bank Fsb
Crh INC
Warranty Deed
—
Jul 18, 2006
$275,000
Crh INC
Dagoberto Ibarra
Warranty Deed
—
Jun 3, 2005
$130,000
Dagoberto Ibarra
Mred Associates
Warranty Deed
$130,000 · Continental Savings Bank 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.
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