Other investment properties
Entity Owned
19-yr Hold
Entity Owned 
For Lease
1 / 19
$129-$12,259/Mo per office
342 Water St,Unit 600, Milwaukee, WI 53202
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Property summary
AI-generated overview
The Mayer Building is a mixed-use property located at the corner of Water Street and St. Paul Street, serving as a gateway to Milwaukee’s historic Third Ward, directly across from the Milwaukee Public Market. The building is configured for multiple uses, with office space in the building and residential units on the 2nd through 5th floors. On the interior, it includes a lobby, elevators, and a redesigned corridor configuration, along with upgraded contemporary finishes. The property also includes lower-level parking and is characterized by a loft-style interior aesthetic.
Property profile
Verified
Property type
Other investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1910
Total area
112,528 SF
Lot
0.56 ac (24,312 SF)
Zoning code
C9G
APN
392-1010-100
UPID
US92-1273685
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Building Supply
-
Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Law Firm
-
IT Consulting Firm Tech Support Center
-
(Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$21.14M
Comparable Approach
Comparable
$16.44M
Blend (final)
Blend
$15.62M
Owner & transaction history
since 2007
6 recorded transactions
Zoning & alternative use
C9G · Milwaukee, WI
Zoning description
aa-2. If the tower is located in a C9A, C9B, C9C, C9D, C9F or C9G district, the tower shall not exceed 150 feet in height or the tower shall be accessory to an elementary or secondary school and be set back from all prop…
General category
INDUSTRIAL
Top alternative use upside
Apartment house (5+ units)
$20.6M
+40.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
4 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$15.62M
Value range
$14.05M – $17.18M
±10% around blend
Estimated value / SF
$139 / SF
Confidence
Property data
88
Market benchmarks
100
Comparable evidence
60
$14.05M
blend $15.62M
$17.18M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
112,528 SF
Lot area
0.56 ac
Year built
1910
Stories
8
APN
392-1010-100
Assessed value
$12,262,600
Annual tax
$291,973
3
Income approach: direct capitalization
Partial preview
Income approach indication
$21.14M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$22.90M
@ 6.5% CAP return
$21.14M
@ 7% CAP return
$19.63M
4
Sales comparison
Partial preview
Sales approach indication
$16.44M
Range $10.66M – $17.83M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$15.62M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 40 sales
$130
+6%
Submarket 675 sales
$87
+60%
County 740 sales
$89
+55%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $139/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Apartment House (5+ Units)
Gross theoretical uplift
+40%
vs current-use indication
Commercial (general) · current use
Restaurant
Auto Repair, Garage
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$12.26M
Move the market yield to see immediate price impact.
Value / SF
$109
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$773k
$15.45M
$11.04M
$8.58M
$858k
$17.17M
$12.26M
$9.54M
$944k
$18.88M
$13.49M
$10.49M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$291,973
Tax year 2022
Assessed value
$12,262,600
Assessed 2022
Previous assessed
$12,262,600
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$729,400
Assessed improvement
$11,533,200
Land market value
$729,400
Improvement market value
$11,533,200
Total market value
$12,262,600
Applied tax rate
1.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Lease
Year built
1910
Heating
YES
Cooling
YES
Stories
8
Units
108
Total area
112,528 SF
Lot
0.56 ac (24,312 SF)
Zoning code
C9G
APN
392-1010-100
UPID
US92-1273685
Jurisdiction
MILWAUKEE
Zoning & alternative use
C9G · Milwaukee, WIZoning C9G · permitted uses
C9G · Milwaukee, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Zoning description
aa-2. If the tower is located in a C9A, C9B, C9C, C9D, C9F or C9G district, the tower shall not exceed 150 feet in height or the tower shall be accessory to an elementary or secondary school and be set back from all prop…
General category
INDUSTRIAL
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1910
Heating
YES
Cooling
Yes
Stories
8
Units
108
Lot
0.56 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Matched to the official district catalog
C9G
INDUSTRIAL
Jurisdiction
Milwaukee, WI
Recorded code
C9G
Official district
C9G
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C9G in Milwaukee, WI.
What opens after registration
Zoning profile
Official descriptionThe district text from the municipal code
District factsZone name, category and district area
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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