Three-Unit Property with Full
For Sale
$270,000
1205-1207 Harrison St, Superior, WI 54880
Fully occupied three-unit property with separate entries, shared basement access, and off-street parking near a college.
Property Size964 SF
Lot Size0.12 Acres
Price / SF$280.08
Days on Market41
Property Features for 1205-1207 Harrison St
General Information
Standard status
Active
Size
964 SF
Lot size
0.12 Acres
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR, 1 x studio
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1920
Buildings
1
Construction
wood
Tenancy
Multi
Listing Agency:
RE/MAX Results Duluth
(218) 722-2810
Listed By:
Thomas C Acton
Source:
Tayloronken
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 25 at 5:32AM
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 Duluth
Investment Insights
Based on property information with market context.
This three-unit residential income property includes a three-bedroom, one-bathroom main-floor residence, a one-bedroom upper apartment, and a smaller studio. The building has a full poured basement, two front entrances serving separate unit areas, and shared basement access from the side. Off-street parking is available on the 0.12-acre lot.
The property is fully rented with month-to-month tenants. Tenants pay electricity, while ownership covers gas, water, sewer, and garbage. Wood siding, a metal roof, updated electrical service from 2020, a boiler replaced in 2010, and gas service upgraded in 2018 are among the documented improvements. The roof dates to 1988 and the doors were replaced in 1994. Multiple internet providers are available at the location.
The property is fully rented with month-to-month tenants. Tenants pay electricity, while ownership covers gas, water, sewer, and garbage. Wood siding, a metal roof, updated electrical service from 2020, a boiler replaced in 2010, and gas service upgraded in 2018 are among the documented improvements. The roof dates to 1988 and the doors were replaced in 1994. Multiple internet providers are available at the location.
Key Highlights
- Three‑unit configuration includes a 3‑bedroom main‑floor unit, 1‑bedroom upper unit, and studio apartment
- Fully rented with month‑to‑month tenants
- Full poured basement with shared side access
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
$8,035
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
2.98%
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%
$160,700
$160.7K
Cap Rate 7%
$114,786
$114.8K
Cap Rate 9%
$89,278
$89.3K
Market Conditions
NOI Build-Up for 964 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
$12.1K $12.60/SF
− Vacancy
−$668 −$0.69/SF
EGI
$11.5K $11.91/SF
− OpEx
−$3.4K −$3.57/SF
NOI
$8.0K $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 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%
$160,700
Cap Rate 7%
$114,786
Cap Rate 9%
$89,278
Alternative Uses
Best Use
Multifamily LT 5
$114.8K
$100.4K – $133.9K
NOI $8,035 @ 7.0% cap · market cap 2.98%
Second Best
Apartment 5plus
$101.0K
$88.4K – $117.9K
NOI $7,072 @ 7.0% cap · market cap 2.62%
Theoretical Best
Specialty Retail
$303.9K
$266.0K – $354.6K
NOI $21,276 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
988
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 Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied three-unit property with separate entries, shared basement access, and off-street parking near a college.
Where is this triplex located?
The property is located at 1205-1207 Harrison St Superior, WI.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Three‑unit configuration includes a 3‑bedroom main‑floor unit, 1‑bedroom upper unit, and studio apartment; Fully rented with month‑to‑month tenants; Full poured basement with shared side access
