Back to Search
Property profile & analytics
FOR SALE
Warehouses
3618 W Pierce St Milwaukee, WI 53215
Entity Owned
8-yr Hold
Free & Clear
Property ID
US92-3400335
For Sale
1 / 2
$1,000,000
3618 W Pierce St, Milwaukee, WI 53215
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1918
Total area
12,198 SF
Lot
0.26 ac (11,313 SF)
Zoning code
IH
APN
436-0003-100
UPID
US92-3400335
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
-
Fyxation Bicycle Company Big Box & Wholesale Store (Bike/Boat/Book/etc) Store
-
Velobahn Coffee and Cycle Cafe & Coffee Shop
-
Escuela Verde's Newline Community Cafe Cafe & Coffee Shop
-
Pedal Milwaukee Coworking & Hybrid Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$395k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$745k
Blend (final)
Blend
$575k
Owner & transaction history
Next Session LLC · 8 yrs held
Next Session LLC
since 2018
7 recorded transactions
Zoning & alternative use
IH · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$875,000
+33.2%
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
$395,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$660,000
Current use
RESTAURANT
$875,000
Change: +33% · Conversion: Difficult
Blend value · Realmo final
$575k
Range $518k – $633k · ±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
$47 / 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
$11,157
Tax year 2022
Assessed value
$468,600
Assessed 2022
Previous assessed
$468,600
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$11,300
Assessed improvement
$457,300
Land market value
$11,300
Improvement market value
$457,300
Total market value
$468,600
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Sale
Year built
1918
Heating
YES
Cooling
YES
Stories
2
Units
3
Total area
12,198 SF
Lot
0.26 ac (11,313 SF)
Zoning code
IH
APN
436-0003-100
UPID
US92-3400335
Jurisdiction
MILWAUKEE
Zoning & alternative use
IH · Milwaukee, WI
Zoning IH · permitted uses
IH · 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
$660,000
RESTAURANT
Est. value
$875,000
WAREHOUSE, STORAGE Current
RESTAURANT
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
1918
Heating
YES
Cooling
Yes
Stories
2
Units
3
Lot
0.26 ac
Current owner
From public records · entity-resolved
Next Session LLC
Entity
Free & Clear · 8 yrs held
Mailing address
3618 W PIERCE ST, MILWAUKEE, WI 53215-1055
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 27, 2022
—
Next Session LLC
—
Deed
related
$574,740 · First Citizens Bank & Trust Co
Mar 5, 2018
$600,000
Next Session LLC
Pedak Milwaukee LLC
Warranty Deed
—
Nov 17, 2011
$300,000
Pedal Milwaukee LLC
Pyramax Bk Fsb
Warranty Deed
—
Jun 21, 2011
—
Pyramax Bk Fsb
Sheriff Of Milwaukee County
Foreclosure
related
—
Dec 6, 2006
$255,000
Lagina Properties LLC
Whm Co
Warranty Deed
$441,000 · Lincoln State Bank
—
—
Pedal Milwaukee LLC
—
Deed Of Trust
related
$50,000 · Tri Cty Nat'l Bk
—
—
Lagina Properties LLC
—
Deed Of Trust
related
$196,000 · Medc Capital Fund LLC Medc Capital Fund LLC
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?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
