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Property profile & analytics
OFF-MARKET
Estimated value
$1,105,000
Retail properties & Spaces
403 Midland Ave Waukesha, WI 53186-5609
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US92-0572838
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
1948
Total area
14,160 SF
Lot
0.68 ac (29,621 SF)
Zoning code
M-2
APN
WAKC1304070
UPID
US92-0572838
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
-
Trinity Logistics Corporation Logistics Company Freight Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.08M
Blend (final)
Blend
$1.11M
Owner & transaction history
Midland Investments LLC
Midland Investments LLC
since 2025
Last sale
$1.1M
5 recorded transactions
Zoning & alternative use
M-2 · Waukesha, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
To provide for manufacturing and industrial development of a more general and less restrictive nature than the M-1 Limited Manufacturing District in those areas where the relationship to surrounding land use would create fewer problems of compatibility, the M-2 District shall not abut directly upon residential districts
Zone name
General Manufacturing
General category
INDUSTRIAL
Zone area
1,179.67 ac
Source
Realmo
Top alternative use upside
Warehouse, storage
$1.8M
+24.9%
Commercial (general)
$1.6M
+11.9%
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 Waukesha submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waukesha 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
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$1,420,000
Current use
WAREHOUSE, STORAGE
$1,775,000
Change: +25% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,590,000
Change: +12% · Conversion: Difficult
OFFICE BUILDING
$1,350,000
Change: -5% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,295,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$1.11M
Range $995k – $1.22M · ±10% · vs last sale $1.12M (Jul 27 2025)
Last sale anchor
$1.12M
Jul 27 2025
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
$78 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$11,101
Tax year 2023
Assessed value
$731,700
Assessed 2023
Previous assessed
$364,800
+100.6% YoY
Effective rate
1.52%
On assessed value
Assessed land
$107,200
Assessed improvement
$624,500
Total market value
$757,532
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
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Status
Off-Market
Year built
1948
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
14,160 SF
Lot
0.68 ac (29,621 SF)
Zoning code
M-2
APN
WAKC1304070
UPID
US92-0572838
Jurisdiction
WAUKESHA
Zoning & alternative use
M-2 · Waukesha, WIZoning M-2 · permitted uses
M-2 · Waukesha, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
To provide for manufacturing and industrial development of a more general and less restrictive nature than the M-1 Limited Manufacturing District in those areas where the relationship to surrounding land use would create fewer problems of compatibility, the M-2 District shall not abut directly upon residential districts
Zone name
General Manufacturing
General category
INDUSTRIAL
Zone area
1,179.67 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.3M
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
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
1948
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.68 ac
Current owner
From public records · entity-resolved
Midland Investments LLC
Entity
Mailing address
2894 AAA CT, BETTENDORF, IA 52722-3406
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2025
$1,120,000
Midland Investments LLC
Daniel J Zehnder
Warranty Deed
$840,000 · First Citizens Bank & Trust Co
Dec 9, 2010
$50,000
Precision Mold Plating INC
Hicks Jack B Trust
Warranty Deed
—
Oct 29, 2010
$210,000
Daniel J Zehnder
Hicks Jack B Trust
Warranty Deed
$180,000 · Hicks Jack B Trust (pt)
—
—
Daniel J Zehnder
—
Deed Of Trust
related
$590,000 · Pnc Bank
—
—
Precision Mold Plating INC
—
Deed Of Trust
related
$37,500 · Waukesha State Bank
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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