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Property profile & analytics
OFF-MARKET
Estimated value
$3,005,000
Office buildings
815 Water St Milwaukee, WI 53202-4079
Entity Owned
22-yr Hold
Absentee Owner
Free & Clear
Property ID
US92-0029384
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1987
Total area
30,793 SF
Lot
0.37 ac (15,936 SF)
Zoning code
C9D(A)
APN
392-2401-000
UPID
US92-0029384
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
-
Associated Bank ATM Atm
-
MKE Fellows Educational Institution College
-
The Berg Investment Consulting Group of Wells Fargo Advisors Insurance Agency
-
Cobey-Westphal Wealth Management Group Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.01M
Owner & transaction history
Hales Corners Dev Corp · 22 yrs held
Hales Corners Dev Corp
since 2004
3 recorded transactions
Zoning & alternative use
C9D(A) · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.0M
+40.5%
Restaurant
$3.9M
+36.9%
Auto repair, garage
$3.7M
+28.4%
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
OFFICE BUILDING
$2,860,000
Current use
COMMERCIAL (GENERAL)
$4,020,000
Change: +40% · Conversion: Easy
RESTAURANT
$3,915,000
Change: +37% · Conversion: Moderate
AUTO REPAIR, GARAGE
$3,675,000
Change: +28% · Conversion: Difficult
MEDICAL BUILDING
$3,170,000
Change: +11% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,865,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$3.01M
Range $2.70M – $3.31M · ±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
$98 / 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
$94,730
Tax year 2022
Assessed value
$3,978,600
Assessed 2022
Previous assessed
$3,978,600
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$1,593,600
Assessed improvement
$2,385,000
Land market value
$1,593,600
Improvement market value
$2,385,000
Total market value
$3,978,600
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
Off-Market
Year built
1987
Heating
YES
Stories
3
Units
4
Total area
30,793 SF
Lot
0.37 ac (15,936 SF)
Zoning code
C9D(A)
APN
392-2401-000
UPID
US92-0029384
Jurisdiction
MILWAUKEE
Zoning & alternative use
C9D(A) · Milwaukee, WI
Zoning C9D(A) · permitted uses
C9D(A) · 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
OFFICE BUILDING Current
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$4.0M
RESTAURANT
Est. value
$3.9M
AUTO REPAIR, GARAGE
Est. value
$3.7M
MEDICAL BUILDING
Est. value
$3.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.9M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
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
1987
Heating
YES
Stories
3
Units
4
Lot
0.37 ac
Current owner
From public records · entity-resolved
Hales Corners Dev Corp
Entity
Free & Clear · 22 yrs held
Mailing address
433 MAIN ST #8227, GREEN BAY, WI 54301-5114
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
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 6, 2011
—
Ugp-everest Milwaukee LLC
—
Grant Deed
related
$20,000,000 · General Elec Cap
Jan 13, 2004
$2,860,000
Hales Corners Dev Corp
Water Street 815
Grant Deed
—
—
—
Ugp-everest Milwaukee LLC
—
Deed Of Trust
related
$12,000,000 · Miscellaneous Ins Co
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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