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Property profile & analytics
OFF-MARKET
Estimated value
$4,445,000
Warehouses
802 Bay St Milwaukee, WI 53207-1204
Individually Owned
3-yr Hold
Free & Clear
Property ID
US92-0481176
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1964
Total area
58,809 SF
Lot
1.72 ac (74,923 SF)
Zoning code
IO2
APN
465-0041-112
UPID
US92-0481176
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
-
Milwaukee Movers Moving Company
-
StorageMart Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.82M
Blend (final)
Blend
$4.45M
Owner & transaction history
Morgan Glacer · 3 yrs held
Morgan Glacer
since 2023
5 recorded transactions
Zoning & alternative use
IO2 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$7.0M
+86.0%
Commercial (general)
$6.5M
+71.5%
Medical building
$6.1M
+60.5%
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 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
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
WAREHOUSE, STORAGE
$3,770,000
Current use
AUTO REPAIR, GARAGE
$7,015,000
Change: +86% · Conversion: Easy
COMMERCIAL (GENERAL)
$6,465,000
Change: +71% · Conversion: Difficult
MEDICAL BUILDING
$6,055,000
Change: +61% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$5,470,000
Change: +45% · Conversion: Moderate
Blend value · Realmo final
$4.45M
Range $4.00M – $4.89M · ±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
$76 / 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
$89,264
Tax year 2022
Assessed value
$3,749,000
Assessed 2022
Previous assessed
$3,749,000
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$112,400
Assessed improvement
$3,636,600
Land market value
$112,400
Improvement market value
$3,636,600
Total market value
$3,749,000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1964
Heating
YES
Stories
1
Units
562
Total area
58,809 SF
Lot
1.72 ac (74,923 SF)
Zoning code
IO2
APN
465-0041-112
UPID
US92-0481176
Jurisdiction
MILWAUKEE
Zoning & alternative use
IO2 · Milwaukee, WI
Zoning IO2 · permitted uses
IO2 · 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.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$3.8M
AUTO REPAIR, GARAGE
Est. value
$7.0M
COMMERCIAL (GENERAL)
Est. value
$6.5M
MEDICAL BUILDING
Est. value
$6.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.5M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1964
Heating
YES
Stories
1
Units
562
Lot
1.72 ac
Current owner
From public records · entity-resolved
Morgan Glacer
Individual
Free & Clear · 3 yrs held
Mailing address
1211 NIAGARA ST, WAUKESHA, WI 53186-3701
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 12, 2023
—
Morgan Glacer
Christopher Glazer
Affidavit
—
Sep 30, 2021
$11,110,000
Tkg III Acquisition LLC
Storage Masier LLC
Warranty Deed
$100,000,000 · Citibank NA
Sep 21, 2015
—
Storage Master INC
—
Deed Of Trust
related
$2,300,000 · Landmark Cu
Sep 1, 2015
$550,000
Storage Master INC
Jp Cardinal Holdings LLC
Grant Deed
—
Mar 17, 2015
$900,000
Jp Cardinal Holdings LLC
Casting Aluminum
Warranty Deed
$870,126 · Pyramax 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.
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