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Property profile & analytics
OFF-MARKET
Estimated value
$1,060,000
Bars & Pubs
5881 Howell Ave Milwaukee, WI 53207-6229
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US92-0673969
Property summary
AI-generated overview
This exceptional 4.6-acre parcel, located at 5881 & 5865 S Howell Ave in Milwaukee, Wisconsin (APN 6720312000), presents a unique redevelopment opportunity. Its prime location offers unparalleled proximity to Milwaukee Mitchell International Airport, making it highly attractive for a variety of commercial and industrial uses. The property is zoned IL1, providing flexibility for diverse development plans. Currently, two established businesses operate on the site: an airport parking lot and a gentleman's club. These businesses may be available for purchase separately, presenting an added investment opportunity for the right buyer. The property's substantial size and strategic location near the airport create significant potential for future growth and high returns. This is a rare chance to acquire a large, well-situated parcel with existing income streams, ideal for developers seeking a high-impact project in a thriving area. Serious inquiries are encouraged to explore the possibilities of this exceptional property. Further details, including pricing, are available upon request.
Property profile
Verified
Property type
Bars & Pubs
Use group
BAR, TAVERN
Year built
1947
Total area
6,415 SF
Lot
4.22 ac (183,823 SF)
Zoning code
IL1
APN
672-0312-000
UPID
US92-0673969
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
-
ATM Atm
-
The Airport Lounge Nightclub Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$745k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.36M
Blend (final)
Blend
$1.06M
Owner & transaction history
George C Tsitsos · 4 yrs held
George C Tsitsos
since 2021
4 recorded transactions
Zoning & alternative use
IL1 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.5M
+80.9%
Retail stores
$1.1M
+35.9%
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
$745,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$815,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,475,000
Change: +81% · Conversion: Difficult
RETAIL STORES
$1,110,000
Change: +36% · Conversion: Easy
AUTO REPAIR, GARAGE
$765,000
Change: -6% · Conversion: Difficult
COMMERCIAL (GENERAL)
$705,000
Change: -14% · Conversion: Easy
MEDICAL BUILDING
$660,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.06M
Range $954k – $1.17M · ±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
$165 / 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
$166,665
Tax year 2022
Assessed value
$6,999,800
Assessed 2022
Previous assessed
$6,999,800
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$3,065,800
Assessed improvement
$3,934,000
Land market value
$3,065,800
Improvement market value
$3,934,000
Total market value
$6,999,800
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
Bars & Pubs
Use group
BAR, TAVERN
Status
Off-Market
Year built
1947
Heating
YES
Cooling
YES
Stories
2
Units
504
Total area
6,415 SF
Lot
4.22 ac (183,823 SF)
Zoning code
IL1
APN
672-0312-000
UPID
US92-0673969
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
RESTAURANT Current
Est. value
$815,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.5M
RETAIL STORES
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$765,000
COMMERCIAL (GENERAL)
Est. value
$705,000
MEDICAL BUILDING
Est. value
$660,000
RESTAURANT Current
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1947
Heating
YES
Cooling
Yes
Stories
2
Units
504
Lot
4.22 ac
Current owner
From public records · entity-resolved
George C Tsitsos
Individual
Mailing address
5881 S HOWELL AVE, MILWAUKEE, WI 53207-6229
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
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
Nov 19, 2021
—
George C Tsitsos
—
Deed
related
$299,500 · Bank Of Lake Mills
Jan 8, 2020
—
Tsitsos,g C & M R Living Trust
—
Deed
related
$30,000 · Bank Of Lake Mills
Feb 28, 2018
—
Tsitsos,george & Monika L Trust
—
Grant Deed
related
$1,088,435 · Bank Of Lake Mills
—
—
Tsitsos,g C & M R Living Trust
—
Deed Of Trust
related
$30,000 · Bank Of Lake Mills
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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