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Property profile & analytics
OFF-MARKET
Estimated value
$2,035,000
Truck terminals
909 Carpenter Ave, Milwaukee, WI 53221-3606
Individually Owned
5-yr Hold
Free & Clear
Property ID
US92-0776820
Property profile
Verified
Property type
Truck terminals
Use group
TRUCK TERMINAL (MOTOR FREIGHT)
Year built
1969
Total area
19,340 SF
Lot
5.89 ac (256,656 SF)
Zoning code
IL1
APN
625-0121-100
UPID
US92-0776820
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
-
Midwest Motor Express Trucking Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.52M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.41M
Blend (final)
Blend
$2.04M
Owner & transaction history
Terminal Logistics II Midwest · 5 yrs held
Terminal Logistics II Midwest
since 2021
Last sale
$1.9M
2 recorded transactions
Zoning & alternative use
IL1 · Milwaukee, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.6M
+131.0%
Commercial (general)
$2.1M
+81.0%
Restaurant
$1.9M
+64.9%
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
$2,460,000
ML approach
$2,520,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,645,000
Change: +131% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,075,000
Change: +81% · Conversion: Difficult
RESTAURANT
$1,890,000
Change: +65% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,770,000
Change: +54% · Conversion: Difficult
MEDICAL BUILDING
$1,495,000
Change: +30% · Conversion: Difficult
Blend value · Realmo final
$2.04M
Range $1.83M – $2.24M · ±10% · vs last sale $1.89M (Jan 7 2021)
Last sale anchor
$1.89M
Jan 7 2021
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
$105 / 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
$45,277
Tax year 2022
Assessed value
$1,901,600
Assessed 2022
Previous assessed
$1,901,600
+0.0% YoY
Effective rate
2.38%
On assessed value
Assessed land
$441,900
Assessed improvement
$1,459,700
Land market value
$441,900
Improvement market value
$1,459,700
Total market value
$1,901,600
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
Truck terminals
Use group
TRUCK TERMINAL (MOTOR FREIGHT)
Status
Off-Market
Year built
1969
Heating
YES
Stories
1
Units
1
Total area
19,340 SF
Lot
5.89 ac (256,656 SF)
Zoning code
IL1
APN
625-0121-100
UPID
US92-0776820
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.1M
RESTAURANT
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1969
Heating
YES
Stories
1
Units
1
Lot
5.89 ac
Current owner
From public records · entity-resolved
Terminal Logistics II Midwest
Individual
Free & Clear · 5 yrs held
Mailing address
201 WW ST, ANNAPOLIS, MD 21401-4654
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 7, 2021
$1,890,900
Terminal Logistics II Midwest
Caleast Nat LLC
Grant Deed
—
Aug 27, 2004
$1,520,700
Caleast Nat LLC
Nat Central I LLC
Warranty Deed
related
—
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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