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Property profile & analytics
OFF-MARKET
Estimated value
$830,000
Apartment buildings
503 Ave Waukesha, WI 53186-4573
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US92-0993148
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1985
Total area
7,706 SF
Lot
0.43 ac (18,731 SF)
Zoning code
RM-3
APN
WAKC1308338
UPID
US92-0993148
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
$955k
Blend (final)
Blend
$830k
Owner & transaction history
Whiterock Holdings LLC · 1 yrs held
Whiterock Holdings LLC
since 2025
Last sale
$870,000
2 recorded transactions
Zoning & alternative use
RM-3 · Waukesha, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+6.9%
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
APARTMENT HOUSE (5+ UNITS)
$1,070,000
Current use
COMMERCIAL (GENERAL)
$1,145,000
Change: +7% · Conversion: Moderate
RETAIL STORES
$980,000
Change: -8% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$920,000
Change: -14% · Conversion: Difficult
WAREHOUSE, STORAGE
$920,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$830k
Range $747k – $913k · ±10% · vs last sale $870k (Nov 11 2024)
Last sale anchor
$870k
Nov 11 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
$108 / 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
$9,825
Tax year 2023
Assessed value
$648,400
Assessed 2023
Previous assessed
$500,900
+29.4% YoY
Effective rate
1.52%
On assessed value
Assessed land
$188,900
Assessed improvement
$459,500
Total market value
$671,291
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1985
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
7,706 SF
Lot
0.43 ac (18,731 SF)
Zoning code
RM-3
APN
WAKC1308338
UPID
US92-0993148
Jurisdiction
WAUKESHA
Zoning & alternative use
RM-3 · Waukesha, WI
Zoning RM-3 · permitted uses
RM-3 · Waukesha, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Waukesha. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES
Est. value
$980,000
INDUSTRIAL (GENERAL)
Est. value
$920,000
WAREHOUSE, STORAGE
Est. value
$920,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RETAIL STORES
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
1985
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.43 ac
Current owner
From public records · entity-resolved
Whiterock Holdings LLC
Entity
Mailing address
311 WINDSOR DR, WAUKESHA, WI 53186-6269
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 11, 2025
$870,000
Whiterock Holdings LLC
Macgregor Trust
Deed
$696,000 · Waukesha State Bank
Mar 2, 2021
—
Macgregor Trust
William G Macgregor
Quit Claim Deed
related
—
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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