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    Two-Story Multifamily Investment Property Title is generated by Realmo AI

    320 - 322 Superior Avenue, Tomah, WI 54660

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    For Sale
    $374,500

    Apartment building,2 story - Tomah, WI

    Lot size:
    0.17 Acres
    Added:
    Apr 14, 2026
    Days on Market:
    54
    Last Refresh:
    Jun 6 at 6:06 am

    Property Features for 320 - 322 Superior Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Commercial
    Bedrooms
    7
    Rooms
    Basement, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Basement Y/N
    1
    Standard status
    Active
    APN
    286-02332-0000
    Lot size
    0.17 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    4738

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1890
    Floors in Building
    2
    Number of units
    10
    Building materials
    Brick, Other
    Architectural style
    Other

    We can help!

    Listing Contact
    Wayne Stockwell

    Listing agent Wayne Stockwell

    Listing office VIP Realty 1600 Superior Ave, Tomah, WI

    Listing date Apr 14, 2026

    MLS# 2020687 Listing URL

    Copyright © 2026 REALTORS® Association of South Central Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Brick building built in 1890 with forced‑air heating and a basement
    • Upstairs includes 7 sleeping rooms plus common areas with 3 bathrooms and 2 showers, plus kitchen and living area
    • Rental income includes 5 rooms at $500 rent and 2 rooms at $600 rent (owner pays utilities; all are month‑to‑month)
    • Shop area has 2 bathrooms and has rented for $1,000/month plus electric, natural gas, and water for both sides
    • Additional side rents for $650/month (month‑to‑month; owner pays all utilities)
    • Rubber roof on the main building installed in 2023 with a 20‑year warranty

    Overview

    This two-story multifamily investment includes distinct income-producing spaces. There is a shop area with two bathrooms that has been rented for $1,000 per month plus electric, natural gas, and water for both sides, along with another side that pays $650 per month. The back garage has potential to generate $600 per month, with water, electric, and natural gas noted as available (hot water not included). Upstairs provides 7 sleeping rooms plus common areas featuring 3 bathrooms, 2 showers, a kitchen area, and a living area. All units are on month-to-month terms, and the owner pays all utilities. The rubber roof on the main building was installed in 2023 and includes a 20-year warranty, along with lots of other updates completed.

    Set in Tomah, the property is described as being on the town’s main artery, supporting its convenience for tenants.

    With multiple rentable spaces—shop, additional side, garage potential, and upstairs rooming layout—this building may suit buyers seeking an income stream with flexibility from month-to-month arrangements. The existing improvements and roof warranty can also be an important consideration for an owner looking to maintain and operate the property with confidence.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tomah
    County
    Monroe
    State
    Wisconsin
    Longitude
    -90.504395
    Latitude
    43.983706

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    FAQs

    What type of property is this?
    Apartment building - Mixed income setup with month-to-month units and a rubber roof installed in 2023 with a 20-year warranty.
    Where is this apartment building located?
    The property is located at 320 - 322 Superior Avenue Tomah, WI.
    What is the asking price?
    The asking price for this property is $374,500.
    What are key features of this property?
    This property features: Brick building built in 1890 with forced‑air heating and a basement; Upstairs includes 7 sleeping rooms plus common areas with 3 bathrooms and 2 showers, plus kitchen and living area; Rental income includes 5 rooms at $500 rent and 2 rooms at $600 rent (owner pays utilities; all are month‑to‑month)
    (608) 343-2729
    We can help!
    Listing Contact
    Wayne Stockwell
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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