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Property profile & analytics
FOR LEASE
Office buildings
2831 N Grandview Blvd Pewaukee, WI 53072
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US92-0400111
For Lease
1 / 3
Contact for pricing
2831 N Grandview Blvd, Pewaukee, WI 53072
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Total area
19,804 SF
Lot
1.72 ac (74,923 SF)
Zoning code
B-5
APN
WAKC0973005002
UPID
US92-0400111
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
-
Badger Region Volleyball Association Charitable Organization Social Service Agency
-
Remax Realty Center Real Estate Agency
-
Judson & Associates, s.c. Real Estate Agency
-
Lutheran Social Services Psychotherapist
-
Homes For Independent Living Home Health Care Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.02M
Blend (final)
Blend
$3.35M
Owner & transaction history
Venture Two LLC · 18 yrs held
Venture Two LLC
since 2007
4 recorded transactions
Zoning & alternative use
B-5 · Pewaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Rm-3 Multiple-Family Residential District. § 340-4.17 B-1 Neighborhood Business District. § 340-4.18 B-2 Community Business District. § 340-4.19 B-3 General Business District. § 340-4.20 B-4 Office District. § 340-4.21 B-5 Highway Business District. § 340-4.22 B-6 Mixed-Use Business District. § 340-4.23 M-1 General Wholesale Business/Warehouse District. § 34…
Zone name
Highway Business
General category
COMMERCIAL
Zone area
62.16 ac
Top alternative use upside
Restaurant
$5.4M
+34.5%
Apartment house (5+ units)
$4.9M
+20.9%
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 Pewaukee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pewaukee 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
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,020,000
Current use
RESTAURANT
$5,405,000
Change: +35% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$4,860,000
Change: +21% · Conversion: Easy
Blend value · Realmo final
$3.35M
Range $3.01M – $3.68M · ±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
$169 / 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
$24,565
Tax year 2023
Previous assessed
$1,444,500
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
Status
For Lease
Year built
1985
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
19,804 SF
Lot
1.72 ac (74,923 SF)
Zoning code
B-5
APN
WAKC0973005002
UPID
US92-0400111
Jurisdiction
WAUKESHA
Zoning & alternative use
B-5 · Pewaukee, WIZoning B-5 · permitted uses
B-5 · Pewaukee, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Rm-3 Multiple-Family Residential District. § 340-4.17 B-1 Neighborhood Business District. § 340-4.18 B-2 Community Business District. § 340-4.19 B-3 General Business District. § 340-4.20 B-4 Office District. § 340-4.21 B-5 Highway Business District. § 340-4.22 B-6 Mixed-Use Business District. § 340-4.23 M-1 General Wholesale Business/Warehouse District. § 340-4.24 M-2 Limited Industrial District. § 340-4.25 M-3 General Industrial District
Zone name
Highway Business
General category
COMMERCIAL
Zone area
62.16 ac
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$4.0M
RESTAURANT
Est. value
$5.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.9M
OFFICE BUILDING Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
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
1985
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
1.72 ac
Current owner
From public records · entity-resolved
Venture Two LLC
Entity
Mailing address
2831 N GRANDVIEW BLVD STE #222, PEWAUKEE, WI 53072-5584
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 18, 2024
—
Grandview 2831 LLC
—
Deed
related
$1,070,926 · Tri City National Bank
Jun 18, 2018
—
Grandview 2831 LLC
—
Deed
related
—
Sep 12, 2017
—
Venture Two LLC
—
Deed
related
$2,110,000 · Cibm Bank
Nov 21, 2007
$1,970,000
Venture Two LLC
Hohnstein,william & Marcia
Warranty Deed
$1,576,000 · M & I Marshall & Isley Bank
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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