Triplex with Detached
New
For Sale
$239,900
1109 N 16th St, Superior, WI 54880
MULTI-FAMILY, Superior, WI
Property Size1,855 SF
Lot Size0.10 Acres
Price / SF$129.33
Days on Market1
Property Features for 1109 N 16th St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Basement, Bathroom 1, Bathroom 3
Basement
Concrete
Elementary school district
Superior (WI) #5663
Middle school district
Superior (WI) #5663
High school district
Superior (WI) #5663
Directions
From Belknap St, take Tower Ave south to N 16th St, then turn onto N 16th St to the property.
Subdivision
LSAR
Standard status
Active
APN
05-805-04061-00
Size
1,855 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2744
Utilities
Heating system
Baseboard
Building Details
Year built
1906
Floors in Building
2
Number of units
3
Listing Agency:
RE/MAX Results · RE/MAX International
Listed By:
Jordan Decaro
(952) 829-2900
Added: Oct 19
Last Checked: Oct 19 at 6:06AM
MLS# 6128480
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.
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Investment Insights
Based on property information with market context.
Built in 1906, this 1,855-square-foot triplex contains three apartments: a main-floor two-bedroom, one-bath unit of approximately 1,006 square feet and two upper-level one-bedroom, one-bath units. Each apartment is leased through 2027. The property also includes a detached two-car garage and sits on a 36-by-120-foot lot measuring 0.1 acres.
Located in Superior, the property has access to shopping, dining and bridges connecting to Duluth. Tenants pay for trash service; the owner covers electricity, fuel, water and sewer.
Located in Superior, the property has access to shopping, dining and bridges connecting to Duluth. Tenants pay for trash service; the owner covers electricity, fuel, water and sewer.
Key Highlights
- Three apartments: one 2‑bedroom, 1‑bath unit and two 1‑bedroom, 1‑bath units
- Main‑floor apartment measures approximately 1,006 sq ft
- 1,855‑square‑foot building, constructed in 1906
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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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,058
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Three leased apartments offer a mix of one- and two-bedroom layouts.
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 measures approximately 1,006 sq ft; 1,855‑square‑foot building, constructed in 1906
