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Property profile & analytics
OFF-MARKET
Estimated value
$700,000
Banks
2915 Custer St Manitowoc, WI 54220-5557
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US92-0841132
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1992
Total area
10,938 SF
Lot
1.51 ac (65,601 SF)
APN
52-210-001-022.00
UPID
US92-0841132
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
-
Bank First - Manitowoc (Custer Street) Bank Loan Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$480k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$920k
Blend (final)
Blend
$700k
Owner & transaction history
Bank First Natl · 11 yrs held
Bank First Natl
since 2015
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.1M
+59.5%
Office building
$1.0M
+51.6%
Auto repair, garage
$1.0M
+49.5%
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 Manitowoc submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Manitowoc 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
$480,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$675,000
Current use
RESTAURANT
$1,080,000
Change: +60% · Conversion: Difficult
OFFICE BUILDING
$1,025,000
Change: +52% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,010,000
Change: +50% · Conversion: Difficult
RETAIL STORES
$655,000
Change: -3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$595,000
Change: -12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$550,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$700k
Range $630k – $770k · ±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
$64 / 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
$20,586
Tax year 2023
Assessed value
$1,250,400
Assessed 2023
Previous assessed
$1,000,300
+25.0% YoY
Effective rate
1.65%
On assessed value
Assessed land
$229,600
Assessed improvement
$1,020,800
Land market value
$229,875
Improvement market value
$1,022,025
Total market value
$1,251,900
Applied tax rate
251.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1992
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
10,938 SF
Lot
1.51 ac (65,601 SF)
APN
52-210-001-022.00
UPID
US92-0841132
Jurisdiction
MANITOWOC
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$675,000
RESTAURANT
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$1.0M
RETAIL STORES
Est. value
$655,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$595,000
COMMERCIAL (GENERAL)
Est. value
$550,000
FINANCIAL BUILDING Current
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1992
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
1.51 ac
Current owner
From public records · entity-resolved
Bank First Natl
Entity
Mailing address
PO BOX 10, MANITOWOC, WI 54221-0010
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 16, 2015
—
Bank First Natl
First Manitowoc Bancorp INC
Quit Claim Deed
—
Dec 29, 2010
—
First Manitowoc Bancorp INC
—
Deed Of Trust
related
$2,400,000 · Oostburg State 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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