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Property profile & analytics
OFF-MARKET
Estimated value
$1,075,000
Office buildings
272 12th St Milwaukee, WI 53233-2604
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US92-3329762
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1929
Total area
15,215 SF
Lot
0.59 ac (25,698 SF)
Zoning code
IH
APN
398-1241-000
UPID
US92-3329762
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
-
Professional Placement Services Accounting Firm Loan Service
-
Grand Central Graphics Marketing & Advertising Advertising Agency
-
Renters Warehouse Property Management Company Condominium Rental Agency
-
Brew City Realtors Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.08M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.09M
Blend (final)
Blend
$1.08M
Owner & transaction history
Armstrong Development LLC · 2 yrs held
Armstrong Development LLC
since 2024
Last sale
$1.1M
3 recorded transactions
Zoning & alternative use
IH · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.6M
+35.8%
Medical building
$1.6M
+29.9%
Neighborhood: shopping center
$1.4M
+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
$1,075,000
ML approach
$1,075,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,205,000
Current use
RETAIL STORES
$1,635,000
Change: +36% · Conversion: Moderate
MEDICAL BUILDING
$1,565,000
Change: +30% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,415,000
Change: +17% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,320,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$1.08M
Range $968k – $1.18M · ±10% · vs last sale $1.08M (Feb 12 2024)
Last sale anchor
$1.08M
Feb 12 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
$71 / 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
$16,141
Tax year 2022
Assessed value
$677,900
Assessed 2022
Previous assessed
$677,900
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$128,500
Assessed improvement
$549,400
Land market value
$128,500
Improvement market value
$549,400
Total market value
$677,900
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
1929
Heating
YES
Cooling
YES
Stories
2
Units
4
Total area
15,215 SF
Lot
0.59 ac (25,698 SF)
Zoning code
IH
APN
398-1241-000
UPID
US92-3329762
Jurisdiction
MILWAUKEE
Zoning & alternative use
IH · Milwaukee, WI
Zoning IH · permitted uses
IH · 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
$1.2M
RETAIL STORES
Est. value
$1.6M
MEDICAL BUILDING
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.3M
OFFICE BUILDING Current
RETAIL STORES
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
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
1929
Heating
YES
Cooling
Yes
Stories
2
Units
4
Lot
0.59 ac
Current owner
From public records · entity-resolved
Armstrong Development LLC
Entity
Mailing address
820 GEORGES AVE, BROOKFIELD, WI 53045-6769
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
Feb 12, 2024
$1,075,000
Armstrong Development LLC
Myriad Property Group LLC
Warranty Deed
$600,000 · Milwaukee Economic Development Corp
Dec 14, 2007
$650,000
Myriad Property Group LLC
E-l Enterprises INC
Warranty Deed
$650,000 · M & I Marshall & Ilsley Bank
—
—
Myriad Property Group LLC
—
Deed Of Trust
related
$310,000 · Medc Capital Fund I LLC Medc Capital Fund I LLC
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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