Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$9,940,000
Apartment buildings
2601 Elkhart Dr Waukesha, WI 53189-8815
Entity Owned
Free & Clear
Property ID
US92-0628607
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2022
Total area
102,027 SF
Lot
23.09 ac (1,005,975 SF)
Zoning code
B-1 (PUD)
APN
WAKC1364018005
UPID
US92-0628607
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$11.80M
Blend (final)
Blend
$9.94M
Owner & transaction history
WAUKESHA PARKWAY LLC
WAUKESHA PARKWAY LLC
Zoning & alternative use
B-1 (PUD) · Waukesha, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
To provide for individual or small groups of retail and customer service establishments serving primarily the convenience of a local neighborhood, and the character, appearance, and operation of which are compatible with the character of the surrounding area, No such district established after the effective date of this Ordinance shall be less than three acr…
Zone name
Neighborhood Business Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
38.79 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$9.94M
Range $8.95M – $10.93M · ±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
$97 / 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
$439,625
Tax year 2023
Assessed value
$29,009,100
Assessed 2023
Effective rate
1.52%
On assessed value
Assessed land
$998,500
Assessed improvement
$28,010,600
Total market value
$30,033,233
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2022
Cooling
CENTRAL
Stories
3
Total area
102,027 SF
Lot
23.09 ac (1,005,975 SF)
Zoning code
B-1 (PUD)
APN
WAKC1364018005
UPID
US92-0628607
Jurisdiction
WAUKESHA
Zoning & alternative use
B-1 (PUD) · Waukesha, WIZoning B-1 (PUD) · permitted uses
B-1 (PUD) · Waukesha, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
To provide for individual or small groups of retail and customer service establishments serving primarily the convenience of a local neighborhood, and the character, appearance, and operation of which are compatible with the character of the surrounding area, No such district established after the effective date of this Ordinance shall be less than three acres in area, The PUD Overlay District is intended to permit development that will, over a period of time, be enhanced by coordinated area site planning, diversified location of structures, diversified building heights and types, or mixing of compatible uses
Zone name
Neighborhood Business Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
38.79 ac
Source
Realmo
Building & site characteristics
From public records
Year built
2022
Cooling
Yes
Stories
3
Lot
23.09 ac
Current owner
From public records · entity-resolved
WAUKESHA PARKWAY LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 1602, MILWAUKEE, WI 53201-1602
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2601 Elkhart Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
