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Property profile & analytics
OFF-MARKET
Estimated value
$2,305,000
Drug stores
2826 Dr Martin Luther King Jr Dr, Milwaukee, WI 53212-2314
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US92-0993120
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
2008
Total area
15,551 SF
Lot
1.15 ac (50,007 SF)
Zoning code
LB2
APN
313-2391-000
UPID
US92-0993120
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
$2.37M
CAP Approach
CAP
$2.51M
Comparable Approach
Comparable
$1.61M
Blend (final)
Blend
$2.31M
Owner & transaction history
Mlkrj Drive Milwaukee 14 LLC · 5 yrs held
Mlkrj Drive Milwaukee 14 LLC
since 2020
Last sale
$2.3M
6 recorded transactions
Zoning & alternative use
LB2 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.9M
+152.4%
Restaurant
$2.0M
+73.9%
Auto repair, garage
$1.9M
+63.1%
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
$2,265,000
ML approach
$2,370,000
CAP Approach
CAP Return
Estimation
6%
$2,720,000
6.5%
$2,510,000
7%
$2,330,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,870,000
Change: +152% · Conversion: Difficult
RESTAURANT
$1,980,000
Change: +74% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,855,000
Change: +63% · Conversion: Difficult
MEDICAL BUILDING
$1,600,000
Change: +41% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,445,000
Change: +27% · Conversion: Moderate
Blend value · Realmo final
$2.31M
Range $2.07M – $2.54M · ±10% · vs last sale $2.30M (Oct 13 2020)
Last sale anchor
$2.30M
Oct 13 2020
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
$148 / 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
$63,127
Tax year 2022
Assessed value
$2,651,300
Assessed 2022
Previous assessed
$2,651,300
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$312,400
Assessed improvement
$2,338,900
Land market value
$312,400
Improvement market value
$2,338,900
Total market value
$2,651,300
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
2008
Heating
YES
Stories
1
Units
1
Total area
15,551 SF
Lot
1.15 ac (50,007 SF)
Zoning code
LB2
APN
313-2391-000
UPID
US92-0993120
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
RESTAURANT
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2008
Heating
YES
Stories
1
Units
1
Lot
1.15 ac
Current owner
From public records · entity-resolved
Mlkrj Drive Milwaukee 14 LLC
Entity
Mailing address
433 N CAMDEN DR STE #1100, BEVERLY HILLS, CA 90210-4435
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 13, 2020
$2,295,800
Mlkrj Drive Milwaukee 14 LLC
Pedro LLC
Special Warranty Deed
$3,280,000 · Ubs Bank USA
Apr 15, 2020
$5,395,500
Pedro LLC
Pacific Wisconsin P California
Grant Deed
—
Jun 26, 2017
$6,168,700
California Pacific Wisconsin P
Bric Mlk Of Hadley Associates
Grant Deed
$4,000,000 · First Internet Bk/in
Jun 21, 2010
—
Bric Mlk Of Hadley Associates
—
Grant Deed
related
$5,250,000 · Wcdlf Sub Cde Xxvi LLC
Jun 23, 2008
$1,700,000
Bric Mlk Of Hadley Associates
S & J Properties INC
Warranty Deed
$4,875,000 · Johnson Bk
Nov 29, 2005
$325,000
S & J Properties INC
Garfield Foundation INC
Quit Claim Deed
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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