Leased Triplex with
New
For Sale
$239,900
1109 N 16th St, Superior, WI 54880
Three apartments include a two-bedroom main-floor residence and two one-bedroom upper units.
Property Size1,855 SF
Lot Size0.10 Acres
Days on Market7
Property Features for 1109 N 16th St
General Information
Standard status
Active
Size
1,855 SF
Total Parking Spaces
2
Lot size
0.10 Acres
Property subtype
Triplex
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$37,020
Taxes and HOA fees
Annual Taxes
$2,744
Building Details
Building Size
1,855 SF
Year Built
1906
Buildings
1
Tenancy
Multi
Listing Agency:
RE/MAX Results
Listed By:
Jordan DeCaro · License #40286367|WI79981-94
(218) 428-0861
Source:
Visionsfirstrealty
Added: Oct 14
Changed: Oct 19
Last Checked: Oct 20 at 5:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Results
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Investment Insights
Based on property information with market context.
Built in 1906, this three-unit property has a two-bedroom, one-bath apartment on the main floor and two upper-level apartments, each with one bedroom and one bath. The main-floor unit contains approximately 1,006 square feet. All three apartments are leased through 2027. A detached two-car garage provides additional on-site storage. The property occupies a 36x120 city lot in Superior.
Tenants are responsible for trash service; the owner covers electric, fuel, water, and sewer. The property offers access to shopping and dining, as well as bridges connecting Superior with Duluth.
Tenants are responsible for trash service; the owner covers electric, fuel, water, and sewer. The property offers access to shopping and dining, as well as bridges connecting Superior with Duluth.
Key Highlights
- Three apartments: one 2‑bedroom, 1‑bath unit and two 1‑bedroom, 1‑bath units
- Main‑floor apartment has about 1,006 sq ft
- All three units are leased through 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,461
Cap Rate
6.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$309,220
$309.2K
Cap Rate 7%
$220,871
$220.9K
Cap Rate 9%
$171,789
$171.8K
Market Conditions
NOI Build-Up for 1,855 SF
Gross rent
$23.4K $12.60/SF
− Vacancy
−$1.3K −$0.69/SF
EGI
$22.1K $11.91/SF
− OpEx
−$6.6K −$3.57/SF
NOI
$15.5K $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 Rate 5%
$309,220
Cap Rate 7%
$220,871
Cap Rate 9%
$171,789
Alternative Uses
Best Use
Multifamily LT 5
$220.9K
$193.3K – $257.7K
NOI $15,461 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$194.4K
$170.1K – $226.8K
NOI $13,608 @ 7.0% cap · market cap 5.67%
Theoretical Best
Specialty Retail
$584.9K
$511.8K – $682.4K
NOI $40,941 @ 7.0% cap · market cap 17.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
688
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments include a two-bedroom main-floor residence and two one-bedroom upper units.
Where is this triplex located?
The property is located at 1109 N 16th St Superior, WI.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Three apartments: one 2‑bedroom, 1‑bath unit and two 1‑bedroom, 1‑bath units; Main‑floor apartment has about 1,006 sq ft; All three units are leased through 2027
