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Property profile & analytics
OFF-MARKET
Estimated value
$2,675,000
Apartment buildings
2848 Wls St Milwaukee, WI 53208-4411
Entity Owned
15-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US92-0380478
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1963
Total area
18,189 SF
Lot
0.41 ac (18,000 SF)
Zoning code
RM6
APN
388-0125-000
UPID
US92-0380478
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
by Request
CAP Approach
CAP
$2.61M
Comparable Approach
Comparable
$2.83M
Blend (final)
Blend
$2.68M
Owner & transaction history
2848 W Wells LLC · 15 yrs held
2848 W Wells LLC
since 2010
5 recorded transactions
Zoning & alternative use
RM6 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.3M
+5.3%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,825,000
6.5%
$2,605,000
7%
$2,420,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,195,000
Current use
RESTAURANT
$2,315,000
Change: +5% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,170,000
Change: -1% · Conversion: Difficult
MEDICAL BUILDING
$1,870,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$2.68M
Range $2.41M – $2.94M · ±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
$147 / 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
$23,658
Tax year 2022
Assessed value
$993,600
Assessed 2022
Previous assessed
$993,600
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$61,300
Assessed improvement
$932,300
Land market value
$61,300
Improvement market value
$932,300
Total market value
$993,600
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1963
Heating
YES
Stories
3
Units
33
Rooms
71
Bathrooms
1
Total area
18,189 SF
Lot
0.41 ac (18,000 SF)
Zoning code
RM6
APN
388-0125-000
UPID
US92-0380478
Jurisdiction
MILWAUKEE
Zoning & alternative use
RM6 · Milwaukee, WI
Zoning RM6 · permitted uses
RM6 · 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) Current
Est. value
$2.2M
RESTAURANT
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
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
1963
Heating
YES
Stories
3
Units
33
Rooms
71
Bathrooms
1
Lot
0.41 ac
Current owner
From public records · entity-resolved
2848 W Wells LLC
Entity
Mailing address
3232 N DOUSMAN ST, MILWAUKEE, WI 53212-2248
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 4, 2010
$330,000
2848 W Wells LLC
Jen Ents LLC
Warranty Deed
—
Aug 4, 2010
$167,400
Jen Ents LLC
Joseph A Crivello
Grant Deed
—
—
—
2848 W Wells LLC
—
Deed Of Trust
related
$1,750,000 · Prescient Capital Partners Ltd Prescient Capital Partners Ltd
—
—
2848 W Wells LLC
—
Deed Of Trust
related
$110,000 · Mottet Lending LLC
—
—
2848 W Wells LLC
—
Deed Of Trust
related
$110,000 · Motive Lndg
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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