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Property profile & analytics
OFF-MARKET
Estimated value
$2,765,000
Manufacturing properties
4041 Richards St Glendale, WI 53212-1232
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US92-1267681
Property summary
AI-generated overview
This exceptional six-story medical office building, located at 4041 N Richards St in Milwaukee, WI 53212, offers a significant opportunity for healthcare providers. Boasting a total of 213,194 square feet, the property features 48,476 square feet of immediately available space, divisible into units as small as 5,000 square feet. The building, constructed in 1945 and extensively renovated in 2017, benefits from high ceilings ranging from 13 to 18 feet, providing a spacious and modern environment. Ample parking is available with 80+ surface spaces. The property sits on a generous 8.05-acre lot and is zoned IL-2: Light Industrial, offering flexibility for various medical uses. The building is equipped with elevators and heavy power throughout, ensuring efficient operations. This prime Milwaukee location provides easy access to major transportation routes and a thriving medical community. The property's substantial size and flexible floor plans make it ideal for a variety of medical practices, from individual specialists to large multi-specialty clinics. Inquire today to learn more about this exceptional leasing opportunity.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1941
Total area
165,225 SF
Lot
6.38 ac (278,000 SF)
APN
242-8006-000
UPID
US92-1267681
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
$2.72M
Blend (final)
Blend
$2.77M
Owner & transaction history
Phoenix Richards LLC · 5 yrs held
Phoenix Richards LLC
since 2021
Last sale
$2.9M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Glendale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Glendale 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
Blend value · Realmo final
$2.77M
Range $2.49M – $3.04M · ±10% · vs last sale $2.93M (Aug 25 2024)
Last sale anchor
$2.93M
Aug 25 2024
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
$17 / 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
$29,982
Tax year 2022
Assessed value
$1,130,000
Assessed 2022
Previous assessed
$1,130,000
+0.0% YoY
Effective rate
2.65%
On assessed value
Assessed land
$638,200
Assessed improvement
$491,800
Total market value
$1,362,100
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1941
Heating
NONE
Total area
165,225 SF
Lot
6.38 ac (278,000 SF)
APN
242-8006-000
UPID
US92-1267681
Jurisdiction
MILWAUKEE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1941
Heating
NONE
Lot
6.38 ac
Current owner
From public records · entity-resolved
Phoenix Richards LLC
Entity
Mailing address
401 E KILBOURN AVE, MILWAUKEE, WI 53202-3212
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Jan 5, 2021
—
Phoenix Richards LLC
—
Deed
related
$3,630,000 · Byline 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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