Mixed-Use Property with
For Sale
$295,000
601 Belknap St, Superior, WI 54880
COMMERCIAL, Superior, WI
Property Size2,000 SF
Lot Size0.14 Acres
Price / SF$147.50
Days on Market69
Property Features for 601 Belknap St
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Directions
Corner of Belknap St and Cypress Ave
Subdivision
LSAR
Standard status
Active
Size
2,000 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3080
Utilities
Heating system
Hot Water(Heating), Natural Gas
Amenities
detached garage
Building Details
Year built
1910
Number of units
4
Roof type
Flat
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 829-2900
Listed By:
Megan Wilson · License #75787-94
(952) 829-2900
Added: Jun 16
Changed: Aug 20
Last Checked: Aug 23 at 7:06PM
MLS# 6126089
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 2,000-square-foot mixed-use property combines commercial space with residential units in a two-level configuration. The main floor provides approximately 1,000 square feet suitable for office or retail use, while two apartments occupy the upper level. A basement is also included.
The property sits on a 0.14-acre parcel at 601 Belknap St in Superior, Wisconsin, with exposure along Belknap Street. On-site features include a 24' x 24' detached garage and off-street parking serving occupants, customers, and employees. Built in 1910, the building has a flat roof and hot-water heating fueled by natural gas.
The property sits on a 0.14-acre parcel at 601 Belknap St in Superior, Wisconsin, with exposure along Belknap Street. On-site features include a 24' x 24' detached garage and off-street parking serving occupants, customers, and employees. Built in 1910, the building has a flat roof and hot-water heating fueled by natural gas.
Key Highlights
- Approximately 1,000 square feet of main‑level office and/or retail space
- Two upper‑level apartments
- 2,000 square feet of total property size
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
$24,545
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
8.32%
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%
$490,900
$490.9K
Cap Rate 7%
$350,643
$350.6K
Cap Rate 9%
$272,722
$272.7K
Market Conditions
NOI Build-Up for 2,000 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
$36.0K $18.00/SF
− Vacancy
−$936 −$0.47/SF
EGI
$35.1K $17.53/SF
− OpEx
−$10.5K −$5.26/SF
NOI
$24.5K $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%
$490,900
Cap Rate 7%
$350,643
Cap Rate 9%
$272,722
Alternative Uses
Best Use
Office B
$426.2K
$372.9K – $497.3K
NOI $29,835 @ 7.0% cap · market cap 10.11%
Second Best
Retail
$350.6K
$306.8K – $409.1K
NOI $24,545 @ 7.0% cap · market cap 8.32%
Theoretical Best
Specialty Retail
$630.6K
$551.8K – $735.7K
NOI $44,141 @ 7.0% cap · market cap 14.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
404
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 Office 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?
Mixed-use property - Main-level office or retail space is paired with two upper-level apartments and off-street parking.
Where is this mixed-use property located?
The property is located at 601 Belknap St Superior, WI.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Approximately 1,000 square feet of main‑level office and/or retail space; Two upper‑level apartments; 2,000 square feet of total property size
