Two-Unit Commercial Kitchen
For Sale
$445,000
1908-1910 Tower Ave, Superior, WI 54880
COMMERCIAL, Superior, WI
Property Size2,640 SF
Lot Size0.16 Acres
Price / SF$168.56
Days on Market70
Property Features for 1908-1910 Tower Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1
Interior features
Restrooms
Basement
Block, Concrete
Elementary school district
Superior (WI) #5663
Middle school district
Superior (WI) #5663
High school district
Superior (WI) #5663
Directions
South on Tower ave, building is on the left
Subdivision
LSAR
Standard status
Active
Size
2,640 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2686
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1958
Number of units
2
Roof type
Rubber
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 829-2900
Listed By:
Tom Acton · License #40200615|WI67860-94
(952) 829-2900
Added: Jun 15
Changed: Aug 20
Last Checked: Aug 23 at 6:06PM
MLS# 6126069
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 2,640-square-foot commercial kitchen property is configured as two units within a block building constructed on a slab. The south half is vacant, while the other unit is leased to Williams Asian Foods. Seller-owned food-service components include an Ansul system, prep stations, dishwasher, and walk-in cooler. Interior improvements include updated bathroom finishes, epoxy-coated floors, and upgraded electrical service.
Both units have newer gas forced-air furnaces and central air conditioning. The building has a rubber roof, and the sewer lateral line was recently replaced. Approximately 0.16 acres includes about 12 parking spaces behind the building. The property is located in Superior, Wisconsin, within Douglas County.
Both units have newer gas forced-air furnaces and central air conditioning. The building has a rubber roof, and the sewer lateral line was recently replaced. Approximately 0.16 acres includes about 12 parking spaces behind the building. The property is located in Superior, Wisconsin, within Douglas County.
Key Highlights
- 2,640‑square‑foot building configured as two commercial units
- South half is vacant; the other unit is leased to Williams Asian Foods
- Seller‑owned Ansul system, prep stations, dishwasher, and walk‑in cooler
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
$32,399
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
7.28%
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%
$647,980
$648.0K
Cap Rate 7%
$462,843
$462.8K
Cap Rate 9%
$359,989
$360.0K
Market Conditions
NOI Build-Up for 2,640 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
$47.5K $18.00/SF
− Vacancy
−$1.2K −$0.47/SF
EGI
$46.3K $17.53/SF
− OpEx
−$13.9K −$5.26/SF
NOI
$32.4K $12.27/SF
Area
Douglas County, WI
Vacancy
2.60%
Lease Rate
$18.00 /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%
$647,980
Cap Rate 7%
$462,843
Cap Rate 9%
$359,989
Alternative Uses
Best Use
Specialty Retail
$832.4K
$728.3K – $971.1K
NOI $58,266 @ 7.0% cap · market cap 13.09%
Second Best
Retail
$462.8K
$405.0K – $540.0K
NOI $32,399 @ 7.0% cap · market cap 7.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
756
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial kitchen - Flexible two-unit property with commercial food-service equipment, a walk-in cooler, and updated interior finishes.
Where is this commercial kitchen located?
The property is located at 1908-1910 Tower Ave Superior, WI.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: 2,640‑square‑foot building configured as two commercial units; South half is vacant; the other unit is leased to Williams Asian Foods; Seller‑owned Ansul system, prep stations, dishwasher, and walk‑in cooler
