New search
Property profile & analytics
OFF-MARKET
Estimated value
$4,050,000
Drug stores
3701 Howell Ave, Milwaukee, WI 53207-3838
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US92-0705266
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1966
Total area
20,875 SF
Lot
1.16 ac (50,747 SF)
Zoning code
LB2
APN
549-0884-100
UPID
US92-0705266
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
-
Walgreens Pharmacy
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Walgreens Pharmacy Pharmacy
-
Bitcoin Depot | BDCheckout Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.37M
Comparable Approach
Comparable
$4.96M
Blend (final)
Blend
$4.05M
Owner & transaction history
Exchangeright Net Leased Portf · 7 yrs held
Exchangeright Net Leased Portf
since 2019
1 recorded transaction
Zoning & alternative use
LB2 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.8M
+33.1%
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%
$3,650,000
6.5%
$3,370,000
7%
$3,130,000
Alternative Use
Use
Estimation
RETAIL STORES
$3,605,000
Current use
APARTMENT HOUSE (5+ UNITS)
$4,800,000
Change: +33% · Conversion: Difficult
Blend value · Realmo final
$4.05M
Range $3.65M – $4.46M · ±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
$194 / 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
$66,525
Tax year 2022
Assessed value
$2,867,000
Assessed 2022
Previous assessed
$2,867,000
+0.0% YoY
Effective rate
2.32%
On assessed value
Assessed land
$456,900
Assessed improvement
$2,410,100
Land market value
$456,900
Improvement market value
$2,410,100
Total market value
$2,867,000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1966
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
20,875 SF
Lot
1.16 ac (50,747 SF)
Zoning code
LB2
APN
549-0884-100
UPID
US92-0705266
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
RETAIL STORES Current
Est. value
$3.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.8M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
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
1966
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
1.16 ac
Current owner
From public records · entity-resolved
Exchangeright Net Leased Portf
Individual
Mailing address
PO BOX 1159, DEERFIELD, IL 60015-6002
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 15, 2019
$2,500,000
Exchangeright Net Leased Portf
Wilbur Ave Property LLC
Grant Deed
$55,000,000 · Other Institutional Lenders
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?”
You own 3701 Howell Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
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.
