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Property profile & analytics
OFF-MARKET
Estimated value
$3,725,000
Apartment buildings
5615 Martin Dr Milwaukee, WI 53208-2543
Entity Owned
5-yr Hold
Free & Clear
Property ID
US92-1218423
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1930
Total area
30,324 SF
Lot
0.39 ac (16,929 SF)
Zoning code
RM5
APN
385-0401-000
UPID
US92-1218423
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
-
Martin Drive Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.35M
Comparable Approach
Comparable
$3.56M
Blend (final)
Blend
$3.73M
Owner & transaction history
Honigman Holdings LLC · 5 yrs held
Honigman Holdings LLC
since 2020
1 recorded transaction
Zoning & alternative use
RM5 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.9M
+5.3%
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%
$4,705,000
6.5%
$4,345,000
7%
$4,035,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,660,000
Current use
RESTAURANT
$3,855,000
Change: +5% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,615,000
Change: -1% · Conversion: Difficult
MEDICAL BUILDING
$3,120,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$3.73M
Range $3.35M – $4.10M · ±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
$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 2022Property tax & assessments
Tax year 2022
Tax billed
$29,770
Tax year 2022
Assessed value
$1,250,300
Assessed 2022
Previous assessed
$1,250,300
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$140,000
Assessed improvement
$1,110,300
Land market value
$140,000
Improvement market value
$1,110,300
Total market value
$1,250,300
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1930
Heating
YES
Cooling
YES
Stories
3
Units
28
Rooms
13
Bathrooms
28
Total area
30,324 SF
Lot
0.39 ac (16,929 SF)
Zoning code
RM5
APN
385-0401-000
UPID
US92-1218423
Jurisdiction
MILWAUKEE
Zoning & alternative use
RM5 · Milwaukee, WI
Zoning RM5 · permitted uses
RM5 · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.7M
RESTAURANT
Est. value
$3.9M
AUTO REPAIR, GARAGE
Est. value
$3.6M
MEDICAL BUILDING
Est. value
$3.1M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL 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
1930
Heating
YES
Cooling
Yes
Stories
3
Units
28
Rooms
13
Bathrooms
28
Lot
0.39 ac
Current owner
From public records · entity-resolved
Honigman Holdings LLC
Entity
Free & Clear · 5 yrs held
Mailing address
9800 W BLUEMOUND RD #200, MILWAUKEE, WI 53226-4353
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 17, 2020
$1,500,000
Honigman Holdings LLC
Hirschberg Family Trust
Grant 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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