Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    748 23rd St Milwaukee, WI 53233
    Back to Search
    Property profile & analytics

    748 23rd St, Milwaukee, WI 53233

    View on Map
    • Parking lots & garages
    • 1,596 SF
    • 0.22 lot acres
    Off-Market
    Last Sale Jan 13, 2025
    $2,120,000
    Property ID
    US92-0882575
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $2,185,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Parking lots & garages

    Property Details for 748 23rd St

    Year built
    1875
    Lot size
    0.22 lot acres
    Zone code
    RM6
    Property type
    Parking lots & garages
    APN
    389-1589-100
    APU
    3891589100

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 13, 2025 $2,120,000 Contessa Apartments LLC West Winds Properties LLC Warranty Deed $1.6M · University Of Wisconsin Cu
    Feb 6, 2017 — West Winds Properties LLC — Deed · related $770k · Landmark Cu
    — — West Winds Properties LLC — Deed Of Trust · related $770k · Landmark Cu

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,290,000
      ML approach
      $2,210,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Milwaukee
    County
    Milwaukee
    State
    Wisconsin
    Longitude
    -87.9413
    Latitude
    43.0399
    CBSA code
    33340
    CBSA name
    MILWAUKEE-WAUKESHA-WEST ALLIS, WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $1,026
    $14,400
    $28,700
    $43,100
    -
    $14,400
    $28,700
    $43,100

    Comparable in this City

    • Value Estimation by Request
      0.26 Acres

      1800 1806th W St Paul Ave, Unit 1806

      PARKING LOT
      1800 1806th W St Paul Ave, Milwaukee, WI 53233-2657
      View Details
    • Value Estimation by Request
      0.02 Acres

      623 20th St

      PARKING LOT
      623 20th St, Milwaukee, WI 53233-1901
      View Details
    • Value Estimation by Request
      1,709,128 SF

      320 19th St

      PARKING GARAGE, PARKING STRUCTURE
      320 19th St, Milwaukee, WI 53233
      View Details
    • Value Estimation by Request
      577,947 SF

      841 James Lovell St

      PARKING GARAGE, PARKING STRUCTURE
      841 James Lovell St, Milwaukee, WI 53233-1402
      View Details
    • Value Estimation
      $1,070,000
      5,625 SF

      545 James Lovell St

      PARKING LOT
      545 James Lovell St, Milwaukee, WI 53233
      View Details
    • Value Estimation
      $1,190,000
      282,056 SF

      902 Juneau Ave, Unit 910

      PARKING GARAGE, PARKING STRUCTURE
      902 Juneau Ave, Milwaukee, WI 53233-1428
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Downtown Parking Lot For Sale

      15-20 spot parking lot near Marquette University and Ambassador Hotel.
      2222 W Michigan St, Milwaukee, WI 53233
      View Details
    • Contact for pricing
      60,000 SF

      Menomonee Valley Brick-and-Beam Building

      Award-winning property with flexible layout in Menomonee Valley neighborhood.
      1741-1825 W St Paul Ave, Milwaukee, WI 53233
      View Details
    • Contact for pricing
      16,477 SF

      Riverfront Warehouse with Expansion Potential

      Warehouse with river frontage, high ceilings, and expansion possibilities.
      2215 W Mount Vernon Ave, Milwaukee, WI 53233
      View Details
    • $2,080,000
      10,882 SF

      Updated Multifamily Property Near University

      Two adjacent, fully occupied buildings near Marquette University.
      944 North 20Th St, Milwaukee, WI 53233
      View Details
    • Contact for pricing

      Milwaukee Specialty Property For Sale

      Specialty property available for purchase in Milwaukee, Wisconsin.
      2215 W Mount Vernon Ave, Milwaukee, WI 53233
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Restaurant Space Near Marquette University

      Second-generation restaurant space for lease near Marquette University.
      1400 W Wells St, Milwaukee, WI 53233
      View Details
    • Contact for pricing
      3,206 SF

      Downtown Milwaukee Retail Space Available

      Prime retail spaces in downtown Milwaukee with high visibility.
      700-740 W Wisconsin Ave, Milwaukee, WI 53233
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Milwaukee, Wisconsin.
      811 N 16Th St, Milwaukee, WI 53233
      View Details
    • Contact for pricing
      1,758 SF

      Turnkey Salon Space Available

      Salon space for rent, ready for immediate occupancy.
      1611-1633 W Wells St, Milwaukee, WI 53233
      View Details
    • Contact for pricing
      4,500 SF

      Spacious Retail Space Near MU

      Large, flexible retail space adjacent to Marquette University parking.
      803-819 N 16Th St, Milwaukee, WI 53233
      View Details
    • Contact for pricing
      7,128 SF

      Menomonee Valley Flex Space Available

      Centrally located flex space with freeway access and on-site parking.
      272-274 N 12Th St, Milwaukee, WI 53233
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    748 23rd St
    Milwaukee, WI 53233
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    748 23rd St, Milwaukee, WI, 53233
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!