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Property profile & analytics
OFF-MARKET
Estimated value
$11,060,000
Parking lots & garages
5220 3rd St Milwaukee, WI 53207
Entity Owned
15-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US92-0336343
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Year built
1971
Total area
51,164 SF
Lot
3.87 ac (168,534 SF)
Zoning code
IL1
APN
641-0011-000
UPID
US92-0336343
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
$9.46M
Blend (final)
Blend
$11.06M
Owner & transaction history
South Howell 2 L & Y LLC · 15 yrs held
South Howell 2 L & Y LLC
since 2011
5 recorded transactions
Zoning & alternative use
IL1 · Milwaukee, WI
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 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$13,685,000
Current use
APARTMENT HOUSE (5+ UNITS)
$11,765,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$11.06M
Range $9.95M – $12.17M · ±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
$216 / 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
$64,287
Tax year 2022
Assessed value
$2,700,000
Assessed 2022
Previous assessed
$2,700,000
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$2,459,200
Assessed improvement
$240,800
Land market value
$2,459,200
Improvement market value
$240,800
Total market value
$2,700,000
Applied tax rate
1.0000
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
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Year built
1971
Heating
YES
Stories
1
Units
541
Total area
51,164 SF
Lot
3.87 ac (168,534 SF)
Zoning code
IL1
APN
641-0011-000
UPID
US92-0336343
Jurisdiction
MILWAUKEE
Zoning & alternative use
IL1 · Milwaukee, WI
Zoning IL1 · permitted uses
IL1 · 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
PARKING LOT Current
Est. value
$13.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$11.8M
PARKING LOT Current
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
1971
Heating
YES
Stories
1
Units
541
Lot
3.87 ac
Current owner
From public records · entity-resolved
South Howell 2 L & Y LLC
Entity
Mailing address
250 W CT ST STE 200E, CINCINNATI, OH 45202-1064
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
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
Dec 1, 2022
—
Cp South Howell LLC
—
Deed
related
$12,500,000 · Park National Bank
Feb 21, 2019
—
Cp-south Howell LLC
—
Grant Deed
related
$11,640,000 · Alliant Cu
May 12, 2011
—
Cp-south Howell 2 LLC
—
Grant Deed
related
$1,500,000 · Bank Of Ky
Jan 20, 2011
$717,300
South Howell 2 L & Y LLC
Cp-south Howell 2 LLC
Grant Deed
—
Dec 14, 2009
$780,000
Cp-south Howell 2 LLC
Sky Chefs INC
Warranty Deed
—
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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