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Property profile & analytics
FOR LEASE
Office buildings
735 N Water St Milwaukee, WI 53202
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US92-1387666
For Lease
1 / 3
$21 SF/Yr
735 N Water St, Milwaukee, WI 53202
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1912
Total area
385,123 SF
Lot
0.58 ac (25,205 SF)
Zoning code
C9F(B)
APN
392-2931-000
UPID
US92-1387666
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$17.44M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$17.44M
Owner & transaction history
City Center Milwaukee Holdings LLC · 1 yrs held
City Center Milwaukee Holdings LLC
since 2024
Last sale
$17.4M
4 recorded transactions
Zoning & alternative use
C9F(B) · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$17,440,000
ML approach
$17,440,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$17.44M
Range $15.70M – $19.18M · ±10% · vs last sale $17.44M (Sep 4 2024)
Last sale anchor
$17.44M
Sep 4 2024
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
$45 / 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
$666,401
Tax year 2022
Assessed value
$27,988,300
Assessed 2022
Previous assessed
$27,988,300
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$2,520,500
Assessed improvement
$25,467,800
Land market value
$2,520,500
Improvement market value
$25,467,800
Total market value
$27,988,300
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1912
Heating
NONE
Stories
16
Units
114
Total area
385,123 SF
Lot
0.58 ac (25,205 SF)
Zoning code
C9F(B)
APN
392-2931-000
UPID
US92-1387666
Jurisdiction
MILWAUKEE
Zoning & alternative use
C9F(B) · Milwaukee, WI
Zoning C9F(B) · permitted uses
C9F(B) · 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.
Building & site characteristics
From public records
Year built
1912
Heating
NONE
Stories
16
Units
114
Lot
0.58 ac
Current owner
From public records · entity-resolved
City Center Milwaukee Holdings LLC
Entity
Mailing address
735 N WATER ST STE M180, MILWAUKEE, WI 53202-4103
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
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
Sep 4, 2024
$17,441,500
City Center Milwaukee Holdings LLC
Compass Prop North Water Street LLC
Condominium Deed
$25,500,000 · The Holders Of Comm 2015-pci Mortgage Tr
—
—
Compass Props North Water Stre
—
Deed Of Trust
related
$25,500,000 · German Am Cap
—
—
Compass Props North Water Stre
—
Loan Modification
related
$20,230,270 · Bmo Harris Bk NA
—
—
Compass Props North Water Stre
—
Deed Of Trust
related
$15,533,270 · M&i Marshall & Ilsley 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
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