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Property profile & analytics
OFF-MARKET
Estimated value
$15,230,000
Hotels
509 Wisconsin Ave, Milwaukee, WI 53203-2001
Entity Owned
24-yr Hold
Absentee Owner
Free & Clear
Property ID
US92-1509410
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1927
Total area
491,759 SF
Lot
3.04 ac (132,597 SF)
Zoning code
C9F(A)
APN
361-0719-112
UPID
US92-1509410
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
-
Cafe Hilton Restaurant
-
Fizor Forum Gym & Fitness Center
-
Encore Rental Equipment Company Tech Support Center
-
bmo opperating system Electronics & Wireless Store
-
Starbucks Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$16.50M
Comparable Approach
Comparable
$13.96M
Blend (final)
Blend
$15.23M
Owner & transaction history
MILW CITY CENTER LLC
MILW CITY CENTER LLC
Zoning & alternative use
C9F(A) · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$21.4M
+63.7%
Apartment house (5+ units)
$20.7M
+58.6%
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%
$17,870,000
6.5%
$16,495,000
7%
$15,315,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$13,060,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$21,375,000
Change: +64% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$20,710,000
Change: +59% · Conversion: Difficult
Blend value · Realmo final
$15.23M
Range $13.71M – $16.75M · ±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
$31 / 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
$1,339,665
Tax year 2022
Assessed value
$56,264,800
Assessed 2022
Previous assessed
$42,147,800
+33.5% YoY
Effective rate
2.38%
On assessed value
Assessed land
$6,539,000
Assessed improvement
$49,725,800
Land market value
$6,539,000
Improvement market value
$49,725,800
Total market value
$56,264,800
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1927
Heating
NONE
Stories
24
Units
1421
Total area
491,759 SF
Lot
3.04 ac (132,597 SF)
Zoning code
C9F(A)
APN
361-0719-112
UPID
US92-1509410
Jurisdiction
MILWAUKEE
Zoning & alternative use
C9F(A) · Milwaukee, WI
Zoning C9F(A) · permitted uses
C9F(A) · 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
HOTEL/MOTEL Current
Est. value
$13.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$21.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$20.7M
HOTEL/MOTEL Current
NEIGHBORHOOD: SHOPPING CENTER
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
1927
Heating
NONE
Stories
24
Units
1421
Lot
3.04 ac
Current owner
From public records · entity-resolved
MILW CITY CENTER LLC
Entity
Free & Clear · 0 yrs held
Mailing address
100 E WISCONSIN AVE STE #1950, MILWAUKEE, WI 53202-4113
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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