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Property profile & analytics
OFF-MARKET
Estimated value
$2,855,000
Commercial real estate
2645 Mayfair Rd Wauwatosa, WI 53226-1304
Individually Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US92-2989368
Property summary
AI-generated overview
This exceptional medical office building, located at 2645 N Mayfair Road in Wauwatosa, Wisconsin, offers multiple suites for lease. The building totals 16,503 square feet and currently has 2,287 square feet of vacant space available. Individual suites range from a minimum of 1,087 square feet to a maximum contiguous space of 1,200 square feet, providing flexibility for various medical practices. The building is conveniently situated in Milwaukee County, with easy access for patients and staff. Ample parking is provided with approximately 72 stalls, offering a generous 4.36 spaces per 1,000 square feet. The building features elevators for convenient access to all floors. This property presents a fantastic opportunity for medical professionals seeking modern, well-maintained office space in a desirable Wauwatosa location. The zip code is 53226. The property is classified as an office building with a medical office subtype. Interested parties should inquire about lease terms and availability.
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1976
Total area
25,933 SF
APN
336-9999-16
UPID
US92-2989368
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
$3.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.16M
Blend (final)
Blend
$2.86M
Owner & transaction history
Jeffrey J Biba · 2 yrs held
Jeffrey J Biba
since 2024
Last sale
$2.7M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.4M
+35.3%
Restaurant
$3.3M
+1.6%
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 Wauwatosa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wauwatosa 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
$3,015,000
ML approach
$3,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,245,000
Current use
APARTMENT HOUSE (5+ UNITS)
$4,395,000
Change: +35% · Conversion: Moderate
RESTAURANT
$3,300,000
Change: +2% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,095,000
Change: -5% · Conversion: Difficult
RETAIL STORES
$2,790,000
Change: -14% · Conversion: Easy
MEDICAL BUILDING
$2,670,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$2.86M
Range $2.57M – $3.14M · ±10% · vs last sale $2.70M (Feb 12 2025)
Last sale anchor
$2.70M
Feb 12 2025
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
$110 / 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
$53,249
Tax year 2022
Assessed value
$2,446,200
Assessed 2022
Previous assessed
$2,446,200
+0.0% YoY
Effective rate
2.18%
On assessed value
Assessed land
$1,336,800
Assessed improvement
$1,109,400
Total market value
$2,899,100
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1976
Total area
25,933 SF
APN
336-9999-16
UPID
US92-2989368
Jurisdiction
MILWAUKEE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$3.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.4M
RESTAURANT
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$3.1M
RETAIL STORES
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.7M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
1976
Current owner
From public records · entity-resolved
Jeffrey J Biba
Individual
Free & Clear · 2 yrs held
Mailing address
138 BUNTROCK AVE, THIENSVILLE, WI 53092-1535
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 16, 2024
—
Jeffrey J Biba
Beverly A Biba
Intrafamily Transfer
related
—
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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