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Property profile & analytics
OFF-MARKET
Estimated value
$11,320,000
Outlet malls
4115 Calumet Ave Manitowoc, WI 54220-5400
Entity Owned
3-yr Hold
Free & Clear
Property ID
US92-0183375
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1990
Total area
202,432 SF
Lot
20.26 ac (882,743 SF)
APN
52-836-203-020.00
UPID
US92-0183375
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
-
Walmart Vision & Glasses Ophthalmologist (Bike/Boat/Book/etc) Store
-
Walmart Pharmacy Pharmacy
-
Walmart Deli Food Market Restaurant
-
Walmart Photo Center (Bike/Boat/Book/etc) Store
-
Walmart Money Center Check Cashing
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.98M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$13.53M
Blend (final)
Blend
$11.32M
Owner & transaction history
Agree Limited Partnership · 3 yrs held
Agree Limited Partnership
since 2023
Last sale
$10.1M
4 recorded transactions
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 Manitowoc submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Manitowoc 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
$11,415,000
ML approach
$10,975,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$13,870,000
Current use
WAREHOUSE, STORAGE
$13,605,000
Change: -2% · Conversion: Difficult
RESTAURANT
$12,450,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$11.32M
Range $10.19M – $12.45M · ±10% · vs last sale $10.08M (Apr 5 2023)
Last sale anchor
$10.08M
Apr 5 2023
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
$56 / 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
$219,539
Tax year 2023
Assessed value
$13,300,000
Assessed 2023
Previous assessed
$9,500,000
+40.0% YoY
Effective rate
1.65%
On assessed value
Assessed land
$2,317,900
Assessed improvement
$10,982,100
Land market value
$2,320,532
Improvement market value
$10,994,568
Total market value
$13,315,100
Applied tax rate
251.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1990
Heating
NONE
Stories
1
Units
1
Total area
202,432 SF
Lot
20.26 ac (882,743 SF)
APN
52-836-203-020.00
UPID
US92-0183375
Jurisdiction
MANITOWOC
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$13.9M
WAREHOUSE, STORAGE
Est. value
$13.6M
RESTAURANT
Est. value
$12.5M
RETAIL STORES Current
WAREHOUSE, STORAGE
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
1990
Heating
NONE
Stories
1
Units
1
Lot
20.26 ac
Current owner
From public records · entity-resolved
Agree Limited Partnership
Entity
Free & Clear · 3 yrs held
Mailing address
2222 COTTONDALE LN STE #300, LITTLE ROCK, AR 72202-2032
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 5, 2023
$10,080,000
Agree Limited Partnership
Doyle W Rogers JR
Special Warranty Deed
—
Apr 5, 2023
—
Doyle W Rogers JR
Manitowoc Partners
Warranty Deed
—
—
—
Manitowoc Partners
—
Loan Modification
related
—
—
—
Manitowoc Partners
—
Loan Modification
related
$514,035 · Citizens 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.
Try Rey
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