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Property profile & analytics
OFF-MARKET
Estimated value
$1,075,000
Retail space
5424 State St, Milwaukee, WI 53208-2514
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US92-0410191
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1952
Total area
8,707 SF
Lot
0.2 ac (8,640 SF)
Zoning code
IL2
APN
385-0012-000
UPID
US92-0410191
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
-
Mantua Music (Bike/Boat/Book/etc) Store
-
First Rate Auto Auto Repair Shop
-
First Rate Motors Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.08M
CAP Approach
CAP
$1.41M
Comparable Approach
Comparable
$758k
Blend (final)
Blend
$1.08M
Owner & transaction history
Primero Assets LLC · 1 yrs held
Primero Assets LLC
since 2024
Last sale
$1.1M
4 recorded transactions
Zoning & alternative use
IL2 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.1M
+100.2%
Apartment house (5+ units)
$1.1M
+90.1%
Auto repair, garage
$1.0M
+87.8%
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
$1,075,000
ML approach
$1,075,000
CAP Approach
CAP Return
Estimation
6%
$1,520,000
6.5%
$1,405,000
7%
$1,305,000
Alternative Use
Use
Estimation
RESTAURANT
$1,105,000
Change: +100% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$1,050,000
Change: +90% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,040,000
Change: +88% · Conversion: Difficult
MEDICAL BUILDING
$895,000
Change: +62% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$810,000
Change: +47% · Conversion: Moderate
OFFICE BUILDING
$690,000
Change: +25% · Conversion: Easy
Blend value · Realmo final
$1.08M
Range $968k – $1.18M · ±10% · vs last sale $1.08M (Sep 27 2024)
Last sale anchor
$1.08M
Sep 27 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
$123 / 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
$7,388
Tax year 2023
Assessed value
$308,800
Assessed 2023
Previous assessed
$308,800
+0.0% YoY
Effective rate
2.39%
On assessed value
Assessed land
$17,300
Assessed improvement
$291,500
Total market value
$371,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1952
Heating
YES
Stories
2
Units
4
Total area
8,707 SF
Lot
0.2 ac (8,640 SF)
Zoning code
IL2
APN
385-0012-000
UPID
US92-0410191
Jurisdiction
MILWAUKEE
Zoning & alternative use
IL2 · Milwaukee, WI
Zoning IL2 · permitted uses
IL2 · 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
RESTAURANT
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$895,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$810,000
OFFICE BUILDING
Est. value
$690,000
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1952
Heating
YES
Stories
2
Units
4
Lot
0.2 ac
Current owner
From public records · entity-resolved
Primero Assets LLC
Entity
Mailing address
9630 W VAN BECK AVE, GREENFIELD, WI 53228-2155
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Sep 27, 2024
$1,075,000
Primero Assets LLC
Jacobus Park Apartments LLC
Warranty Deed
$802,000 · Landmark Cu
May 23, 2022
—
Jacobus Park Apartments LLC
—
Deed
related
$916,000 · Forte Bank
Sep 28, 2012
—
Hamdan Corp
Bachman Family Trust
Dual Purpose Document
related
$257,132 · Bachman Family Trust (pt)
Nov 2, 2009
$250,000
Hamdan Corp
Bachman Family Trust
Grant 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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