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Property profile & analytics
OFF-MARKET
Estimated value
$1,630,000
Retail space
2615 Downer Ave 2625 Milwaukee, WI 53211-4245
Entity Owned
Free & Clear
Property ID
US92-0646974
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1913
Total area
10,310 SF
Lot
0.25 ac (10,980 SF)
Zoning code
LB2
APN
319-0305-000
UPID
US92-0646974
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
-
Abigail Ley Physician
-
Jordan Olp Physician
-
Nikolai Miskov Physician
-
Max Dechant Physician
-
Athletico Physical Therapy - Milwaukee Eastside Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.67M
Comparable Approach
Comparable
$1.90M
Blend (final)
Blend
$1.63M
Owner & transaction history
Godfrey Place Properties LLC
Godfrey Place Properties LLC
since 2025
7 recorded transactions
Zoning & alternative use
LB2 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.6M
+138.3%
Commercial (general)
$1.5M
+31.9%
Restaurant
$1.3M
+18.2%
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%
$1,800,000
6.5%
$1,665,000
7%
$1,545,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,110,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,645,000
Change: +138% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,465,000
Change: +32% · Conversion: Easy
RESTAURANT
$1,310,000
Change: +18% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,230,000
Change: +11% · Conversion: Difficult
MEDICAL BUILDING
$1,060,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$1.63M
Range $1.47M – $1.79M · ±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
$158 / 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
$60,156
Tax year 2022
Assessed value
$2,526,500
Assessed 2022
Previous assessed
$2,526,500
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$219,100
Assessed improvement
$2,307,400
Land market value
$219,100
Improvement market value
$2,307,400
Total market value
$2,526,500
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1913
Heating
YES
Stories
1
Units
3
Total area
10,310 SF
Lot
0.25 ac (10,980 SF)
Zoning code
LB2
APN
319-0305-000
UPID
US92-0646974
Jurisdiction
MILWAUKEE
Zoning & alternative use
LB2 · Milwaukee, WI
Zoning LB2 · permitted uses
LB2 · 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
RETAIL STORES Current
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$1.5M
RESTAURANT
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.1M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1913
Heating
YES
Stories
1
Units
3
Lot
0.25 ac
Current owner
From public records · entity-resolved
Godfrey Place Properties LLC
Entity
Free & Clear · 0 yrs held
Mailing address
2025 N SMT AVE STE #200, MILWAUKEE, WI 53202-1362
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 17, 2025
$187,300
Godfrey Place Properties LLC
Upside Downer LLC
Quitclaim Deed
related
—
Dec 13, 2013
$2,200,000
Upside Downer LLC
2625 Downer LLC
Warranty Deed
$1,760,000 · Cornerstone Community Bank
Mar 26, 2013
—
2625 Downer LLC
Ldc-2615 Downer LLC
Warranty Deed
—
Jun 3, 2009
—
Ldc-2615 Downer LLC
—
Grant Deed
related
$1,300,000 · Anchorbank Fsb
Jun 24, 2005
$2,000,000
Ldc-2615 Downer LLC
Djk 57 LLC
Warranty Deed
$1,800,000 · Anchorbank Fsb
Feb 11, 2004
—
Djk 57 LLC
Daniel J Katz
Quit Claim Deed
related
—
—
—
Ldc-2615 Downer LLC
—
Deed Of Trust
related
$500,000 · Anchorbank Fsb
—
—
Ldc-2615 Downer LLC
—
Deed Of Trust
related
$75,000 · Anchorbank 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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