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Property profile & analytics
OFF-MARKET
Estimated value
$560,000
Retail space
624 24th St Milwaukee, WI 53233-1801
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US92-0362777
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1950
Total area
5,476 SF
Lot
0.7 ac (30,300 SF)
Zoning code
RO2
APN
400-0703-110
UPID
US92-0362777
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
-
Campus Community Apartments Apartment Building
-
Wiegand Enterprises Real Estate Agency
-
Avenues West Association Inc Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$620k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$525k
Blend (final)
Blend
$560k
Owner & transaction history
Eagles Auditorium INC · 4 yrs held
Eagles Auditorium INC
since 2021
Last sale
$500,000
2 recorded transactions
Zoning & alternative use
RO2 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
r-2. In RO1 and RO2 districts, the use shall either: r-2-a. Meet the conditions of subd. 1; or r-2-b. Be located in a building containing at least one other principal use listed as a permitted use in the zoning district in which it is located. s. Assembly Hall. s-1. The use shall be located on the premises of, and accessory to, a restaurant or tavern. s-2. T…
Zone name
Residential And Office Districts
General category
COMMERCIAL
Source
Master V2
Top alternative use upside
Restaurant
$695,000
+18.2%
Auto repair, garage
$655,000
+10.8%
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
$650,000
ML approach
$620,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$590,000
Current use
RESTAURANT
$695,000
Change: +18% · Conversion: Easy
AUTO REPAIR, GARAGE
$655,000
Change: +11% · Conversion: Difficult
MEDICAL BUILDING
$565,000
Change: -4% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$510,000
Change: -14% · Conversion: Moderate
COMMERCIAL (GENERAL)
$475,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$560k
Range $504k – $616k · ±10% · vs last sale $500k (Sep 21 2021)
Last sale anchor
$500k
Sep 21 2021
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
$102 / 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
$4,619
Tax year 2022
Assessed value
$194,000
Assessed 2022
Previous assessed
$194,000
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$30,300
Assessed improvement
$163,700
Land market value
$30,300
Improvement market value
$163,700
Total market value
$194,000
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
1950
Heating
NONE
Stories
2
Units
4
Total area
5,476 SF
Lot
0.7 ac (30,300 SF)
Zoning code
RO2
APN
400-0703-110
UPID
US92-0362777
Jurisdiction
MILWAUKEE
Zoning & alternative use
RO2 · Milwaukee, WIZoning RO2 · permitted uses
RO2 · Milwaukee, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
r-2. In RO1 and RO2 districts, the use shall either: r-2-a. Meet the conditions of subd. 1; or r-2-b. Be located in a building containing at least one other principal use listed as a permitted use in the zoning district in which it is located. s. Assembly Hall. s-1. The use shall be located on the premises of, and accessory to, a restaurant or tavern. s-2. The use shall oper ate within the business hours of the restaurant or tavern to which it is accessory. s-3. The restaurant or tavern to which the use is accessory holds all licenses necessary to facilitate events in the assembly hall, including but not limited to food dealer, alcohol beverage or public entertainment premises licenses. t. Theater. The capacity of the theater building shall not exceed 49 persons. u. Raising of Livestock. The use is limited to the raising of chickens or bees, as permitted under ch. 78. v. Transmission Tower. v-1. The tower shall comply with the applicable provisions of s. 295-413.
Zone name
Residential And Office Districts
General category
COMMERCIAL
Source
Master V2
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$590,000
RESTAURANT
Est. value
$695,000
AUTO REPAIR, GARAGE
Est. value
$655,000
MEDICAL BUILDING
Est. value
$565,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$510,000
COMMERCIAL (GENERAL)
Est. value
$475,000
RETAIL STORES Current
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
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
1950
Heating
NONE
Stories
2
Units
4
Lot
0.7 ac
Current owner
From public records · entity-resolved
Eagles Auditorium INC
Entity
Mailing address
624 N 24TH ST, MILWAUKEE, WI 53233-1801
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 24, 2021
—
Eagles Auditorium INC
—
Deed
related
$300,000 · Bank First NA
Sep 21, 2021
$500,000
Eagles Auditorium INC
Wiegand Investments 624 LLC
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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