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Property profile & analytics
OFF-MARKET
Estimated value
$3,650,000
Medical Office Space
2524 Webster Pl 2 Milwaukee, WI 53211-4256
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US92-0936565
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2009
Total area
25,467 SF
Lot
0.31 ac (13,365 SF)
Zoning code
PD
APN
319-1362-000
UPID
US92-0936565
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
-
Lake Park Dental Dental Office
-
Dr. Marjorie C. Hawkins, MD Physician
-
Dr. Kathleen M. Trebian, MD Physician
-
Julie A. Fuller, MD Pediatrician Medical Clinic
-
Kristine L. Howley, LCSW Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.65M
CAP Approach
CAP
$4.52M
Comparable Approach
Comparable
$2.57M
Blend (final)
Blend
$3.65M
Owner & transaction history
Pav LLC · 1 yrs held
Pav LLC
since 2024
Last sale
$3.7M
3 recorded transactions
Zoning & alternative use
PD · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.6M
+37.9%
Restaurant
$3.2M
+23.5%
Auto repair, garage
$3.0M
+15.9%
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
$3,650,000
ML approach
$3,650,000
CAP Approach
CAP Return
Estimation
6%
$4,895,000
6.5%
$4,515,000
7%
$4,195,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,620,000
Current use
COMMERCIAL (GENERAL)
$3,615,000
Change: +38% · Conversion: Easy
RESTAURANT
$3,240,000
Change: +24% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,040,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$2,740,000
Change: +5% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,370,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$3.65M
Range $3.29M – $4.02M · ±10% · vs last sale $3.65M (Oct 24 2024)
Last sale anchor
$3.65M
Oct 24 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
$143 / 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
$84,556
Tax year 2022
Assessed value
$3,551,300
Assessed 2022
Previous assessed
$3,551,300
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$266,600
Assessed improvement
$3,284,700
Land market value
$266,600
Improvement market value
$3,284,700
Total market value
$3,551,300
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2009
Heating
NONE
Stories
2
Units
7
Total area
25,467 SF
Lot
0.31 ac (13,365 SF)
Zoning code
PD
APN
319-1362-000
UPID
US92-0936565
Jurisdiction
MILWAUKEE
Zoning & alternative use
PD · Milwaukee, WI
Zoning PD · permitted uses
PD · 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
MEDICAL BUILDING Current
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$3.6M
RESTAURANT
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$3.0M
RETAIL STORES
Est. value
$2.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.4M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
2009
Heating
NONE
Stories
2
Units
7
Lot
0.31 ac
Current owner
From public records · entity-resolved
Pav LLC
Entity
Mailing address
788 N JEFFERSON ST STE #800, MILWAUKEE, WI 53202-3700
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 24, 2024
$3,650,000
Pav LLC
Downer Avenue Development LLC
Corporation Deed
$2,300,000 · First Citizens Bank & Trust Co
Sep 30, 2024
—
Downer Avenue Development LLC
—
Deed
related
$2,320,000 · Waterstone Bank Ssb
Jul 25, 2019
—
Downer Avenue Development LLC
—
Deed
related
$350,000 · Old National 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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