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Property profile & analytics
FOR LEASE
Office buildings
3501 W Wisconsin Ave Milwaukee, WI 53208
Entity Owned
Free & Clear
Property ID
US92-0475614
For Lease
1 / 5
$13 SF/Yr
3501 W Wisconsin Ave, Milwaukee, WI 53208
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Total area
28,754 SF
Lot
1.61 ac (69,914 SF)
Zoning code
LB2
APN
402-9999-100
UPID
US92-0475614
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
by Request
Comparable Approach
Comparable
$3.17M
Blend (final)
Blend
$2.87M
Owner & transaction history
MEGAL DEVELOPMENT CORP
MEGAL DEVELOPMENT CORP
Zoning & alternative use
LB2 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.7M
+60.5%
Apartment house (5+ units)
$3.5M
+52.4%
Auto repair, garage
$3.4M
+50.6%
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
OFFICE BUILDING
$2,280,000
Current use
RESTAURANT
$3,655,000
Change: +61% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$3,470,000
Change: +52% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,430,000
Change: +51% · Conversion: Difficult
MEDICAL BUILDING
$2,960,000
Change: +30% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,675,000
Change: +17% · Conversion: Difficult
RETAIL STORES
$1,825,000
Change: -20% · Conversion: Moderate
Blend value · Realmo final
$2.87M
Range $2.58M – $3.16M · ±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
$100 / 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
$26,751
Tax year 2022
Assessed value
$1,123,500
Assessed 2022
Previous assessed
$1,123,500
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$262,100
Assessed improvement
$861,400
Land market value
$262,100
Improvement market value
$861,400
Total market value
$1,123,500
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1988
Heating
YES
Stories
1
Units
7
Total area
28,754 SF
Lot
1.61 ac (69,914 SF)
Zoning code
LB2
APN
402-9999-100
UPID
US92-0475614
Jurisdiction
MILWAUKEE
Zoning & alternative use
LB2 · Milwaukee, WI
Zoning LB2 · permitted uses
LB2 · 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
OFFICE BUILDING Current
Est. value
$2.3M
RESTAURANT
Est. value
$3.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.5M
AUTO REPAIR, GARAGE
Est. value
$3.4M
MEDICAL BUILDING
Est. value
$3.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.7M
RETAIL STORES
Est. value
$1.8M
OFFICE BUILDING Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1988
Heating
YES
Stories
1
Units
7
Lot
1.61 ac
Current owner
From public records · entity-resolved
MEGAL DEVELOPMENT CORP
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 18661, MILWAUKEE, WI 53218-0661
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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