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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Bars & Pubs
3251 3253rd N 8th St Milwaukee, WI 53206
Entity Owned
Property ID
US92-1028308
Property profile
Verified
Property type
Bars & Pubs
Use group
BAR, TAVERN
Year built
1904
Total area
4,300 SF
Lot
0.1 ac (4,288 SF)
Zoning code
RT4
APN
283-1241-000
UPID
US92-1028308
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
-
New Brothers Lounge Restaurant Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$633k
Blend (final)
Blend
$575k
Owner & transaction history
Major One LLC
Major One LLC
since 2025
Last sale
$49,000
7 recorded transactions
Zoning & alternative use
RT4 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$545,000
Current use
AUTO REPAIR, GARAGE
$515,000
Change: -6% · Conversion: Difficult
RETAIL STORES
$465,000
Change: -15% · Conversion: Easy
MEDICAL BUILDING
$445,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$575k
Range $518k – $633k · ±10% · vs last sale $49k (Jul 24 2024)
Last sale anchor
$49k
Jul 24 2024
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
$134 / 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
$5,419
Tax year 2022
Assessed value
$227,600
Assessed 2022
Previous assessed
$227,600
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$2,100
Assessed improvement
$225,500
Land market value
$2,100
Improvement market value
$225,500
Total market value
$227,600
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
Bars & Pubs
Use group
BAR, TAVERN
Status
Off-Market
Year built
1904
Heating
YES
Stories
2
Units
4
Rooms
14
Bathrooms
3
Total area
4,300 SF
Lot
0.1 ac (4,288 SF)
Zoning code
RT4
APN
283-1241-000
UPID
US92-1028308
Jurisdiction
MILWAUKEE
Zoning & alternative use
RT4 · Milwaukee, WI
Zoning RT4 · permitted uses
RT4 · 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
RESTAURANT Current
Est. value
$545,000
AUTO REPAIR, GARAGE
Est. value
$515,000
RETAIL STORES
Est. value
$465,000
MEDICAL BUILDING
Est. value
$445,000
RESTAURANT Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1904
Heating
YES
Stories
2
Units
4
Rooms
14
Bathrooms
3
Lot
0.1 ac
Current owner
From public records · entity-resolved
Major One 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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2025
$34,500
Major One LLC
Ron Howell
Quitclaim Deed
related
—
Jul 24, 2024
$24,500
Major One LLC
Ron Howell
Quit Claim Deed
related
—
Jul 9, 2024
$49,000
Ron Howell
Community Loan Servicing LLC
Special Warranty Deed
—
May 13, 2024
—
Community Loan Servicing LLC
Kevin Luckett
Sheriffs Deed
related
—
Apr 6, 2007
—
Luckett,kevin
Laronnie W Gilliam
Quit Claim Deed
related
—
Mar 7, 2007
—
Gilliam,laronnie W
Laronnie W Gilliam
Quit Claim Deed
related
—
Jan 15, 2007
—
Gilliam,laronnie
Beverly Ashford
Quit Claim Deed
related
—
Jan 15, 2007
$8,000
Luckett,kevin
Laronnie Gilliam
Quit Claim Deed
related
—
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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