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Property profile & analytics
FOR LEASE
Community centers
701 Meadowbrook Rd Waukesha, WI 53188
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US92-0590801
For Lease
1 / 2
$15,615,000
701 Meadowbrook Rd, Waukesha, WI 53188
View Listing →
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1999
Total area
61,650 SF
Lot
6.7 ac (291,852 SF)
Zoning code
B-5 (PUD)
APN
WAKC0990048
UPID
US92-0590801
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
-
Waukesha State Bank Bank Loan Service
-
ATM Atm
-
Sendik's Food Market Take-out & Catering Catering Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.39M
CAP Approach
CAP
$20.57M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$15.62M
Owner & transaction history
Meadowbrook Marketplace Associates · 3 yrs held
Meadowbrook Marketplace Associates
since 2023
Last sale
$14.9M
3 recorded transactions
Zoning & alternative use
B-5 (PUD) · Waukesha, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
To provide for the orderly and attractive grouping at appropriate locations along principle highway routes and through highways of those businesses and customer services which are logically related and dependent upon highway traffic or which are specifically designated to serve the needs of such traffic, The PUD Overlay District is intended to permit develop…
Zone name
Community Business Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
232.37 ac
Source
Realmo
Top alternative use upside
Office building
$12.4M
+133.3%
Commercial (general)
$10.4M
+96.4%
Medical building
$10.2M
+91.7%
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 Waukesha submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waukesha 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
$17,320,000
ML approach
$10,385,000
CAP Approach
CAP Return
Estimation
6%
$22,285,000
6.5%
$20,570,000
7%
$19,105,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$12,395,000
Change: +133% · Conversion: Moderate
COMMERCIAL (GENERAL)
$10,435,000
Change: +96% · Conversion: Easy
MEDICAL BUILDING
$10,190,000
Change: +92% · Conversion: Difficult
RESTAURANT
$9,925,000
Change: +87% · Conversion: Difficult
Blend value · Realmo final
$15.62M
Range $14.05M – $17.18M · ±10% · vs last sale $14.90M (Jul 27 2023)
Last sale anchor
$14.90M
Jul 27 2023
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
$253 / 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
$92,451
Tax year 2023
Assessed value
$6,098,800
Assessed 2023
Previous assessed
$4,411,300
+38.3% YoY
Effective rate
1.52%
On assessed value
Assessed land
$1,787,600
Assessed improvement
$4,311,200
Total market value
$6,314,111
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
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
1999
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
61,650 SF
Lot
6.7 ac (291,852 SF)
Zoning code
B-5 (PUD)
APN
WAKC0990048
UPID
US92-0590801
Jurisdiction
WAUKESHA
Zoning & alternative use
B-5 (PUD) · Waukesha, WIZoning B-5 (PUD) · permitted uses
B-5 (PUD) · Waukesha, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
To provide for the orderly and attractive grouping at appropriate locations along principle highway routes and through highways of those businesses and customer services which are logically related and dependent upon highway traffic or which are specifically designated to serve the needs of such traffic, The PUD Overlay District is intended to permit development that will, over a period of time, be enhanced by coordinated area site planning, diversified location of structures, diversified building heights and types, or mixing of compatible uses
Zone name
Community Business Planned Unit Development
General category
PLANNED_DEVELOPMENT
Zone area
232.37 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$12.4M
COMMERCIAL (GENERAL)
Est. value
$10.4M
MEDICAL BUILDING
Est. value
$10.2M
RESTAURANT
Est. value
$9.9M
OFFICE BUILDING
COMMERCIAL (GENERAL)
MEDICAL BUILDING
RESTAURANT
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
1999
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
6.7 ac
Current owner
From public records · entity-resolved
Meadowbrook Marketplace Associates
Entity
Mailing address
3663 WOODWARD AVE STE #550, DETROIT, MI 48201-2498
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 27, 2023
$14,900,000
Meadowbrook Marketplace Associates
Meadowbrook Marketplace LLC
Warranty Deed
—
Dec 5, 2019
—
Meadowbrook Marketplace LLC
—
Grant Deed
related
$7,000,000 · Sabal Capital II LLC
Nov 21, 2012
$9,629,000
Meadowbrook Marketplace LLC
Meadowbrook LLC
Grant Deed
related
$7,800,000 · Separate Account J
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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