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Property profile & analytics
FOR LEASE
Office buildings
9531 Rayne Rd Sturtevant, WI 53177
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US92-0590007
For Lease
1 / 3
Contact for pricing
9531 Rayne Rd, Sturtevant, WI 53177
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1996
Total area
35,000 SF
Lot
9.68 ac (421,661 SF)
Zoning code
3
APN
181 032216420150
UPID
US92-0590007
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
-
Racine/ Sturtevant DMV Department Of Motor Vehicles
-
Commerce Department Local Government Office
-
WI DMV Wisconsin ST Freight Service Logistics Company
-
Racine County Public Health Division Government Office
-
Corrections Probation and Parole Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.17M
Owner & transaction history
Badger Hsng Associates III LLP · 8 yrs held
Badger Hsng Associates III LLP
since 2017
3 recorded transactions
Zoning & alternative use
3 · Sturtevant, WI
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 Sturtevant submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sturtevant 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
AUTO REPAIR, GARAGE
$3,635,000
Change: 0% · Conversion: Difficult
RESTAURANT
$3,610,000
Change: 0% · Conversion: Moderate
WAREHOUSE, STORAGE
$2,530,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$4.17M
Range $3.75M – $4.59M · ±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
$119 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$100,960
Tax year 2023
Assessed value
$5,192,000
Assessed 2023
Previous assessed
$5,042,000
+3.0% YoY
Effective rate
1.94%
On assessed value
Assessed land
$1,378,400
Assessed improvement
$3,813,600
Land market value
$1,554,655
Improvement market value
$4,301,244
Total market value
$5,855,899
Applied tax rate
181.0000
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
For Lease
Year built
1996
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Total area
35,000 SF
Lot
9.68 ac (421,661 SF)
Zoning code
3
APN
181 032216420150
UPID
US92-0590007
Jurisdiction
RACINE
Zoning & alternative use
3 · Sturtevant, WIZoning 3 · permitted uses
3 · Sturtevant, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Zoning Ordinance
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$3.6M
RESTAURANT
Est. value
$3.6M
WAREHOUSE, STORAGE
Est. value
$2.5M
AUTO REPAIR, GARAGE
RESTAURANT
WAREHOUSE, STORAGE
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
1996
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
9.68 ac
Current owner
From public records · entity-resolved
Badger Hsng Associates III LLP
Entity
Mailing address
PO BOX 896, MARSHFIELD, WI 54449-0896
Ownership since
2017
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
Nov 20, 2017
—
Badger Hsng Associates III LLP
—
Grant Deed
related
$9,439,429 · Forward Fin'l Bk
Sep 9, 2016
—
Badger Housing Assocs III LLP
—
Deed
related
$4,322,573 · Associated Bk
—
—
Badger Housing Assocs III LLP
—
Deed Of Trust
related
$4,322,573 · Associated 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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