Three-Unit Property with
For Sale
$270,000
1205 Harrison St, Superior, WI 54880
MULTI-FAMILY, Superior, WI
Property Size1,928 SF
Lot Size0.12 Acres
Price / SF$140.04
Days on Market45
Property Features for 1205 Harrison St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 2, Bathroom 2
Parking features
Off Street, Driveway
Exterior features
Gutter/Downspout
Basement
Concrete, Unfinished
Lot features
Tree Coverage - Light, Level
Elementary school district
Superior (WI) #5663
Middle school district
Superior (WI) #5663
High school district
Superior (WI) #5663
Directions
2 block sout of Belknap Street. Property is on the North side of the 1200 block
Subdivision
LSAR
Standard status
Active
APN
05-805-02639-00
Size
1,928 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2654
Utilities
Heating system
Hot Water(Heating), Natural Gas, Radiant, Oil
Building Details
Year built
1920
Number of units
3
Roof type
Metal
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 829-2900
Listed By:
Tom Acton · License #40200615|WI67860-94
(952) 829-2900
Added: Jul 10
Changed: Aug 20
Last Checked: Aug 23 at 9:06PM
MLS# 6125931
Copyright © 2026 Lake Superior Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,928-square-foot triplex, built in 1920, contains a three-bedroom, one-bathroom main-floor unit, a one-bedroom upper apartment, and a smaller studio. The building includes a full poured basement with shared side access, two front entrances, wood siding, a metal roof, and off-street parking with a driveway. The property sits on a 0.12-acre lot in Superior.
All three units are currently rented on a month-to-month basis. Tenants pay electricity, while ownership covers gas, water, sewer, and garbage. Electrical service was updated in 2020, the boiler was replaced in 2010, gas service was upgraded in 2018, doors were replaced in 1994, and the metal roof dates to 1988. The property is near the college and offers multiple internet service choices.
All three units are currently rented on a month-to-month basis. Tenants pay electricity, while ownership covers gas, water, sewer, and garbage. Electrical service was updated in 2020, the boiler was replaced in 2010, gas service was upgraded in 2018, doors were replaced in 1994, and the metal roof dates to 1988. The property is near the college and offers multiple internet service choices.
Key Highlights
- Three‑unit layout: 3‑bedroom main floor, 1‑bedroom upper unit, and studio apartment
- 1,928 square feet on a 0.12‑acre lot in Superior
- All units rented with month‑to‑month tenants
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,070
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$321,400
$321.4K
Cap Rate 7%
$229,571
$229.6K
Cap Rate 9%
$178,556
$178.6K
Market Conditions
NOI Build-Up for 1,928 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$24.3K $12.60/SF
− Vacancy
−$1.3K −$0.69/SF
EGI
$23.0K $11.91/SF
− OpEx
−$6.9K −$3.57/SF
NOI
$16.1K $8.33/SF
Area
Douglas County, WI
Vacancy
5.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$321,400
Cap Rate 7%
$229,571
Cap Rate 9%
$178,556
Alternative Uses
Best Use
Multifamily LT 5
$229.6K
$200.9K – $267.8K
NOI $16,070 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$202.1K
$176.8K – $235.7K
NOI $14,144 @ 7.0% cap · market cap 5.24%
Theoretical Best
Specialty Retail
$607.9K
$531.9K – $709.2K
NOI $42,552 @ 7.0% cap · market cap 15.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
988
Businesses Nearby
Explore this area
Business Placement
Demographics for 54880, WI
30,400
Population
14,325
Households
2.1
Avg Household Size
39
Median Age
28%
College-Educated
94%
High-School Grad
166.1 sq mi
ZIP Area
183
Density / Sq Mi
$66,942
Median Household Income
$40,813
Median Earnings
$901
Median Rent
$176,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied triplex with flexible month-to-month tenancy and separate entryways for the lower and upper units.
Where is this triplex located?
The property is located at 1205 Harrison St Superior, WI.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Three‑unit layout: 3‑bedroom main floor, 1‑bedroom upper unit, and studio apartment; 1,928 square feet on a 0.12‑acre lot in Superior; All units rented with month‑to‑month tenants
