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Property profile & analytics
OFF-MARKET
Estimated value
$13,790,000
Flex space
525 Progress Ave Waukesha, WI 53186-5931
Individually Owned
22-yr Hold
Free & Clear
Property ID
US92-0802234
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1962
Total area
289,185 SF
Lot
12.44 ac (541,886 SF)
Zoning code
M-1
APN
WAKC1335947
UPID
US92-0802234
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
-
Miller Transfer Trucking Company
-
Zero Zone Industrial Manufacturer Production Facility
-
Zero Zone East Docks 1 - 5 Industrial Manufacturer Production Facility
-
Late Model Throttle Auto Repair Shop Insurance Agency
-
Bauer Built Tire & Service (Bike/Boat/Book/etc) Store Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$16.20M
Comparable Approach
Comparable
$9.69M
Blend (final)
Blend
$13.79M
Owner & transaction history
Joseph R Kraemer · 22 yrs held
Joseph R Kraemer
since 2004
5 recorded transactions
Zoning & alternative use
M-1 · Waukesha, 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 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%
$17,550,000
6.5%
$16,200,000
7%
$15,045,000
Blend value · Realmo final
$13.79M
Range $12.41M – $15.17M · ±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
$48 / 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
$75,620
Tax year 2023
Assessed value
$4,969,400
Assessed 2023
Previous assessed
$2,998,500
+65.7% YoY
Effective rate
1.52%
On assessed value
Assessed land
$1,465,800
Assessed improvement
$3,503,600
Total market value
$5,144,839
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1962
Heating
YES
Cooling
NONE
Stories
1
Total area
289,185 SF
Lot
12.44 ac (541,886 SF)
Zoning code
M-1
APN
WAKC1335947
UPID
US92-0802234
Jurisdiction
WAUKESHA
Zoning & alternative use
M-1 · Waukesha, WI
Zoning M-1 · permitted uses
M-1 · 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.
Building & site characteristics
From public records
Year built
1962
Heating
YES
Cooling
Yes
Stories
1
Lot
12.44 ac
Current owner
From public records · entity-resolved
Joseph R Kraemer
Individual
Free & Clear · 22 yrs held
Mailing address
525 PROGRESS AVE STE B, WAUKESHA, WI 53186-5933
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2004
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
Jul 26, 2022
—
Progress Development LLC
—
Deed
related
$3,000,000 · Old National Bank
Apr 20, 2004
$750,000
Joseph R Kraemer
Progress Dev LLC
Quit Claim Deed
related
—
Apr 20, 2004
—
Progress Dev LLC
Smith,robert J
Quit Claim Deed
related
—
Jul 7, 2000
$2,600,000
Progress Dev LLC
Amron LLC
Grant Deed
$2,400,000 · Associated Bank Milwaukee
Jun 12, 1998
—
Amron LLC
—
Deed Of Trust
related
$18,000,000 · General Electric Capital Corp
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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