New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,650,000
Hotels
633 Michigan St, Milwaukee, WI 53203-2708
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US92-0129493
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1967
Total area
96,022 SF
Lot
1.84 ac (80,325 SF)
Zoning code
TL
APN
361-0822-110
UPID
US92-0129493
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
-
Wellness Water Filtration Systems Home Appliance Store Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.82M
CAP Approach
CAP
$3.22M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.65M
Owner & transaction history
6th Street Development LLC · 4 yrs held
6th Street Development LLC
since 2022
Last sale
$2.3M
4 recorded transactions
Zoning & alternative use
TL · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$4.2M
+63.7%
Apartment house (5+ units)
$4.0M
+58.6%
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
$2,725,000
ML approach
$2,820,000
CAP Approach
CAP Return
Estimation
6%
$3,490,000
6.5%
$3,220,000
7%
$2,990,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$2,550,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$4,175,000
Change: +64% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,045,000
Change: +59% · Conversion: Difficult
Blend value · Realmo final
$2.65M
Range $2.39M – $2.92M · ±10% · vs last sale $2.25M (Jun 21 2022)
Last sale anchor
$2.25M
Jun 21 2022
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
$28 / 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
$84,061
Tax year 2022
Assessed value
$3,530,500
Assessed 2022
Previous assessed
$3,530,500
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$963,700
Assessed improvement
$2,566,800
Land market value
$963,700
Improvement market value
$2,566,800
Total market value
$3,530,500
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1967
Heating
NONE
Cooling
YES
Stories
7
Units
160
Total area
96,022 SF
Lot
1.84 ac (80,325 SF)
Zoning code
TL
APN
361-0822-110
UPID
US92-0129493
Jurisdiction
MILWAUKEE
Zoning & alternative use
TL · Milwaukee, WI
Zoning TL · permitted uses
TL · 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
HOTEL/MOTEL Current
Est. value
$2.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.0M
HOTEL/MOTEL Current
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
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
1967
Heating
NONE
Cooling
Yes
Stories
7
Units
160
Lot
1.84 ac
Current owner
From public records · entity-resolved
6th Street Development LLC
Entity
Mailing address
4015 80TH ST, KENOSHA, WI 53142-4936
Ownership since
2022
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
Jun 21, 2022
$2,250,000
6th Street Development LLC
Flora Reaf Properties LLC
Special Warranty Deed
—
Jul 6, 2015
$3,800,000
Flora Real Properties LLC
633 West Michigan LLC
Warranty Deed
—
Dec 30, 2008
$963,700
633 West Michigan LLC
Michael Carpenter
Warranty Deed
—
—
—
Milwaukee Venture
—
Deed Of Trust
related
$250,000 · Associated Bk
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 633 Michigan St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
