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Property profile & analytics
OFF-MARKET
Estimated value
$5,270,000
Warehouses
318 Water St 324 Milwaukee, WI 53202-5711
Entity Owned
20-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US92-1261871
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1909
Total area
84,658 SF
Lot
0.72 ac (31,155 SF)
Zoning code
C9G
APN
397-0511-000
UPID
US92-1261871
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
-
Double Action Dive Charters - Milwaukee Travel Agency Tour Operator
-
Visual Comfort & Co. | Milwaukee Showroom (Bike/Boat/Book/etc) Store Hardware & Home Improvement
-
VISUAL COMFORT & Co. (Bike/Boat/Book/etc) Store Hardware & Home Improvement
-
Jerry's River Marina by Pirates Cove Diving, Inc. Marina
-
AJ Dive Charters Travel Agency Tour Operator
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.76M
Comparable Approach
Comparable
$6.54M
Blend (final)
Blend
$5.27M
Owner & transaction history
Graceville LLC · 20 yrs held
Graceville LLC
since 2005
3 recorded transactions
Zoning & alternative use
C9G · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$8.7M
+90.6%
Neighborhood: shopping center
$7.9M
+72.3%
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%
$6,240,000
6.5%
$5,760,000
7%
$5,350,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,570,000
Current use
MEDICAL BUILDING
$8,715,000
Change: +91% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$7,875,000
Change: +72% · Conversion: Moderate
Blend value · Realmo final
$5.27M
Range $4.74M – $5.80M · ±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
$62 / 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
$255,388
Tax year 2022
Assessed value
$10,887,400
Assessed 2022
Previous assessed
$10,887,400
+0.0% YoY
Effective rate
2.35%
On assessed value
Assessed land
$934,700
Assessed improvement
$9,952,700
Land market value
$934,700
Improvement market value
$9,952,700
Total market value
$10,887,400
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1909
Heating
NONE
Stories
4
Units
53
Total area
84,658 SF
Lot
0.72 ac (31,155 SF)
Zoning code
C9G
APN
397-0511-000
UPID
US92-1261871
Jurisdiction
MILWAUKEE
Zoning & alternative use
C9G · Milwaukee, WI
Zoning C9G · permitted uses
C9G · 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
WAREHOUSE, STORAGE Current
Est. value
$4.6M
MEDICAL BUILDING
Est. value
$8.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.9M
WAREHOUSE, STORAGE Current
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
1909
Heating
NONE
Stories
4
Units
53
Lot
0.72 ac
Current owner
From public records · entity-resolved
Graceville LLC
Entity
Mailing address
322 E MICHIGAN ST STE #275, MILWAUKEE, WI 53202-5011
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 5, 2005
—
Graceville LLC
—
Deed Of Trust
related
$4,614,352 · Wcdlf Sub Cde III LLC
—
—
Graceville LLC
—
Loan Modification
related
$675,000 · Park Bk
—
—
Graceville LLC
—
Loan Modification
related
$4,780,055 · Park Bk
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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