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Property profile & analytics
OFF-MARKET
Estimated value
$1,675,000
Commercial real estate
2835 Mayfair Rd Wauwatosa, WI 53222-4405
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US92-0598025
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1967
Total area
22,515 SF
Lot
0.85 ac (37,026 SF)
Zoning code
C2
APN
299-9987-00
UPID
US92-0598025
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
$1.60M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.38M
Blend (final)
Blend
$1.68M
Owner & transaction history
Noby Loftline LLC · 1 yrs held
Noby Loftline LLC
since 2025
Last sale
$1.9M
4 recorded transactions
Zoning & alternative use
C2 · Wauwatosa, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The C2, General Commercial district accommodates a broad range of business and commercial uses. While designed to support regional shopping and commercial activity, the district also allows mixed-use, and multi-unit residential uses
Zone name
General Commercial
General category
MIXED_USE
Zone area
540.08 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$2.7M
+31.6%
Retail stores
$2.4M
+18.7%
Medical building
$2.3M
+13.6%
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
$1,600,000
ML approach
$1,600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,040,000
Current use
AUTO REPAIR, GARAGE
$2,685,000
Change: +32% · Conversion: Difficult
RETAIL STORES
$2,425,000
Change: +19% · Conversion: Easy
MEDICAL BUILDING
$2,320,000
Change: +14% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,095,000
Change: +3% · Conversion: Difficult
OFFICE BUILDING
$1,785,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$1.68M
Range $1.51M – $1.84M · ±10% · vs last sale $1.90M (May 5 2025)
Last sale anchor
$1.90M
May 5 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
$74 / 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
$17,573
Tax year 2022
Assessed value
$809,100
Assessed 2022
Previous assessed
$809,100
+0.0% YoY
Effective rate
2.17%
On assessed value
Assessed land
$739,400
Assessed improvement
$69,700
Total market value
$958,900
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
1967
Heating
NONE
Total area
22,515 SF
Lot
0.85 ac (37,026 SF)
Zoning code
C2
APN
299-9987-00
UPID
US92-0598025
Jurisdiction
MILWAUKEE
Zoning & alternative use
C2 · Wauwatosa, WIZoning C2 · permitted uses
C2 · Wauwatosa, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The C2, General Commercial district accommodates a broad range of business and commercial uses. While designed to support regional shopping and commercial activity, the district also allows mixed-use, and multi-unit residential uses
Zone name
General Commercial
General category
MIXED_USE
Zone area
540.08 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$2.7M
RETAIL STORES
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.1M
OFFICE BUILDING
Est. value
$1.8M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
OFFICE 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
1967
Heating
NONE
Lot
0.85 ac
Current owner
From public records · entity-resolved
Noby Loftline LLC
Entity
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 5, 2025
$1,900,000
Noby Loftline LLC
Blackstone Real Estate Development
Deed
$1,878,493 · Blackstone Real Estate Development
Feb 22, 2024
$1,600,000
Blackstone Real Estate Development
May Fair Office LLC
Special Warranty Deed
—
Nov 25, 2013
$1,100,000
Mayfair Office LLC
Sterling Hasey Co LP
Grant Deed
$1,200,000 · Hmf Fairbank LLC
Nov 16, 2011
—
Sterling Hasey Co LP
—
Deed Of Trust
related
$1,350,000 · Bmo Harris 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.
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