Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,085,000
Retail space
701 Reed Ave Manitowoc, WI 54220-2129
Entity Owned
3-yr Hold
Free & Clear
Property ID
US92-0048520
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1998
Total area
17,084 SF
Lot
3.52 ac (153,331 SF)
APN
52-520-035-020.00
UPID
US92-0048520
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
-
CVS Photo (Bike/Boat/Book/etc) Store
-
Cardtronics Atm
-
UPS Access Point location Courier Service Postal Service
-
CDReload Instant Bitcoin Crypto Atm
-
CVS Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.09M
CAP Approach
CAP
$3.40M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.09M
Owner & transaction history
City Of Manitowoc · 3 yrs held
City Of Manitowoc
since 2023
Last sale
$3.0M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.9M
+61.7%
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 Manitowoc submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Manitowoc 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
$3,205,000
ML approach
$3,085,000
CAP Approach
CAP Return
Estimation
6%
$3,680,000
6.5%
$3,400,000
7%
$3,155,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,895,000
Change: +62% · Conversion: Difficult
Blend value · Realmo final
$3.09M
Range $2.78M – $3.39M · ±10% · vs last sale $3.02M (Jul 31 2023)
Last sale anchor
$3.02M
Jul 31 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
$181 / 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
$40,665
Tax year 2023
Assessed value
$2,466,500
Assessed 2023
Previous assessed
$2,200,000
+12.1% YoY
Effective rate
1.65%
On assessed value
Assessed land
$434,200
Assessed improvement
$2,032,300
Land market value
$434,693
Improvement market value
$2,034,607
Total market value
$2,469,300
Applied tax rate
251.0000
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
1998
Heating
NONE
Stories
1
Units
1
Total area
17,084 SF
Lot
3.52 ac (153,331 SF)
APN
52-520-035-020.00
UPID
US92-0048520
Jurisdiction
MANITOWOC
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.9M
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
1998
Heating
NONE
Stories
1
Units
1
Lot
3.52 ac
Current owner
From public records · entity-resolved
City Of Manitowoc
Entity
Free & Clear · 3 yrs held
Mailing address
900 QUAY ST, MANITOWOC, WI 54220-4543
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 31, 2023
—
City Of Manitowoc
Scp 2006 C23 114 LLC
Quit Claim Deed
related
—
Mar 9, 2007
$3,020,000
Scp 2006 C23 114 LLC
Cvs Pharmacy Wi
Warranty Deed
—
Jul 14, 2006
$3,000,000
Wisconsin Cvs Pharmacy LLC
Sav-on Realty LLC
Quit Claim 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.
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 701 Reed Ave?
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.
