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Property profile & analytics
OFF-MARKET
Estimated value
$990,000
Office buildings
8919 Heather Ave Milwaukee, WI 53224-2417
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US92-3474301
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2005
Total area
10,589 SF
Lot
2.5 ac (108,900 SF)
Zoning code
IL1
APN
042-0141-000
UPID
US92-3474301
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
$1.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.30M
Blend (final)
Blend
$990k
Owner & transaction history
Duck Creek LLC · 2 yrs held
Duck Creek LLC
since 2023
Last sale
$805,000
6 recorded transactions
Zoning & alternative use
IL1 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.4M
+63.2%
Restaurant
$1.3M
+60.5%
Auto repair, garage
$1.3M
+50.6%
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
$1,050,000
ML approach
$1,095,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$840,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,370,000
Change: +63% · Conversion: Easy
RESTAURANT
$1,345,000
Change: +61% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,265,000
Change: +51% · Conversion: Difficult
RETAIL STORES
$1,140,000
Change: +36% · Conversion: Moderate
MEDICAL BUILDING
$1,090,000
Change: +30% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$985,000
Change: +17% · Conversion: Difficult
COMMERCIAL (GENERAL)
$920,000
Change: +9% · Conversion: Easy
Blend value · Realmo final
$990k
Range $891k – $1.09M · ±10% · vs last sale $805k (Aug 28 2023)
Last sale anchor
$805k
Aug 28 2023
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
$93 / 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
$28,741
Tax year 2022
Assessed value
$1,207,100
Assessed 2022
Previous assessed
$1,207,100
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$125,000
Assessed improvement
$1,082,100
Land market value
$125,000
Improvement market value
$1,082,100
Total market value
$1,207,100
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
2005
Heating
NONE
Cooling
YES
Stories
1
Units
1
Total area
10,589 SF
Lot
2.5 ac (108,900 SF)
Zoning code
IL1
APN
042-0141-000
UPID
US92-3474301
Jurisdiction
MILWAUKEE
Zoning & alternative use
IL1 · Milwaukee, WI
Zoning IL1 · permitted uses
IL1 · 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
$840,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.4M
RESTAURANT
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.3M
RETAIL STORES
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$985,000
COMMERCIAL (GENERAL)
Est. value
$920,000
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
2005
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
2.5 ac
Current owner
From public records · entity-resolved
Duck Creek LLC
Entity
Mailing address
8919 W NEATHER AVE, MILWAUKEE, WI 53224
Mailing matches property
Yes
Owner-occupied
Yes
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 28, 2023
$805,000
Duck Creek LLC
Spiritus Health LLC
Warranty Deed
$684,250 · First Citizens Bank & Trust Co
Mar 2, 2017
—
Spiritus Health LLC
—
Deed
related
$490,367 · Bmo Harris Bk NA
Mar 5, 2012
$650,000
Spiritus Health LLC
Rejent Properties LLC
Warranty Deed
$422,500 · Bmo Harris Bank NA
Aug 3, 2007
—
Rejent Properties LLC
Douglas J Fellows
Quit Claim Deed
related
—
Jan 18, 2005
—
Fellows,douglas J
—
Deed Of Trust
related
$920,000 · North Shore Bk
—
—
Spiritus Health LLC
—
Loan Modification
related
$490,367 · Bmo Harris Bk NA
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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