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Property profile & analytics
OFF-MARKET
Estimated value
$1,635,000
Banks
702 State St Manitowoc, WI 54220-4034
Individually Owned
19-yr Hold
~
Est. High Equity
Property ID
US92-3515076
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1940
Total area
26,379 SF
Lot
0.62 ac (27,003 SF)
APN
52-000-108-180.00
UPID
US92-3515076
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
-
Cesa 7 Head Start High School Daycare Center
-
Lakeshore Family Resources Charitable Organization Social Service Agency
-
Lakeshore Cap Inc Social Service Agency Charitable Organization
-
Food Distribution Center - Lakeshore Cap Inc Food Bank Charitable Organization
-
Autism Society-The Lakeshore Social Service Agency Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.63M
Blend (final)
Blend
$1.64M
Owner & transaction history
Keith A Kornely · 19 yrs held
Keith A Kornely
since 2007
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.6M
+59.5%
Office building
$2.5M
+51.6%
Auto repair, garage
$2.4M
+49.5%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$1,635,000
Current use
RESTAURANT
$2,605,000
Change: +60% · Conversion: Difficult
OFFICE BUILDING
$2,475,000
Change: +52% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,440,000
Change: +50% · Conversion: Difficult
RETAIL STORES
$1,580,000
Change: -3% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,435,000
Change: -12% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,330,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$1.64M
Range $1.47M – $1.80M · ±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
$62 / 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
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1940
Heating
NONE
Stories
2
Units
1
Total area
26,379 SF
Lot
0.62 ac (27,003 SF)
APN
52-000-108-180.00
UPID
US92-3515076
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
FINANCIAL BUILDING Current
Est. value
$1.6M
RESTAURANT
Est. value
$2.6M
OFFICE BUILDING
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.4M
RETAIL STORES
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.3M
FINANCIAL BUILDING Current
RESTAURANT
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1940
Heating
NONE
Stories
2
Units
1
Lot
0.62 ac
Current owner
From public records · entity-resolved
Keith A Kornely
Individual
Mailing address
PO BOX 2315, MANITOWOC, WI 54221-2315
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 2, 2021
—
Lac Bay Community Assets LLC
—
Deed
related
$680,745 · Bank First NA
Jul 26, 2007
$99,000
Keith A Kornely
St Francis Of Assisi Parish Corp
Warranty Deed
related
$99,000 · Citimortgage INC
Jun 6, 2007
$190,000
Lac Bay Community Assets LLC
St Francis Of Assisi Parish
Warranty Deed
$450,000 · First National Bank In Manitowoc
Mar 29, 2007
$94,000
Patrick D Hanson
St Francis Of Assisi Parish
Warranty Deed
related
$75,200 · Wells Fargo Bank
—
—
Lac Bay Community Assets LLC
—
Deed Of Trust
related
$480,000 · Forward Community Investments
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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