Fully Rented Triplex with Shared
For Sale
$270,000
1205 Harrison St, Superior, WI 54880
Triplex unit mix includes 3BR/1BA plus 1BR and studio, with updated major systems and off-street parking.
Property Size1,928 SF
Days on Market64
Property Features for 1205 Harrison St
General Information
Standard status
Active
Size
1,928 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$2,653
Building Details
Building Size
1,928 SF
Year Built
1920
Listing Agency:
RE/MAX Results
(218) 310-8859
Listed By:
Tom Acton · License #40200615|WI67860-94
(218) 310-8859
Source:
Visionsfirstrealty
Added: Jun 9
Changed: Aug 7
Last Checked: Aug 11 at 4:37AM
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
Investment Insights
Based on property information with market context.
This triplex offers a practical three-unit layout with a main-floor unit containing 3 bedrooms and 1 bathroom, along with two upper units: a 1-bedroom apartment and a smaller studio. The property includes a full poured basement and wood exterior with a metal roof. There is shared basement access on the side of the building, and the home has two separate front entryways, with one serving the upper tenants and the other serving the lower unit. Recent infrastructure updates include electrical updated in 2020, a boiler replaced in 2010, roof work completed in 1988, doors replaced in 1994, and a gas service upgrade in 2018. Tenants pay for electrical, while the owner covers gas, water, sewer, and garbage.
The building is described as being close to a college in Superior. Multiple internet options are available at the location. The property sits on a large .12-acre lot with lots of off-street parking, supporting convenient day-to-day access for residents.
For tenants and buyers, the configuration provides a blend of unit sizes with separate front entries and shared basement space, which can help support day-to-day convenience in a triplex setting. The property is currently fully rented with month-to-month tenants, offering income-producing occupancy supported by the stated strong occupancy history near the college.
The building is described as being close to a college in Superior. Multiple internet options are available at the location. The property sits on a large .12-acre lot with lots of off-street parking, supporting convenient day-to-day access for residents.
For tenants and buyers, the configuration provides a blend of unit sizes with separate front entries and shared basement space, which can help support day-to-day convenience in a triplex setting. The property is currently fully rented with month-to-month tenants, offering income-producing occupancy supported by the stated strong occupancy history near the college.
Key Highlights
- Triplex with 3BR/1BA on the main floor plus a 1BR unit and a studio apartment
- Fully rented with month‑to‑month tenants
- Full poured basement and large off‑street parking plus a 0.12‑acre lot
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
$16,070
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
5.95%
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%
$321,400
$321.4K
Cap Rate 7%
$229,571
$229.6K
Cap Rate 9%
$178,556
$178.6K
Market Conditions
NOI Build-Up for 1,928 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
$24.3K $12.60/SF
− Vacancy
−$1.3K −$0.69/SF
EGI
$23.0K $11.91/SF
− OpEx
−$6.9K −$3.57/SF
NOI
$16.1K $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%
$321,400
Cap Rate 7%
$229,571
Cap Rate 9%
$178,556
Alternative Uses
Best Use
Multifamily LT 5
$229.6K
$200.9K – $267.8K
NOI $16,070 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$202.1K
$176.8K – $235.7K
NOI $14,144 @ 7.0% cap · market cap 5.24%
Theoretical Best
Specialty Retail
$607.9K
$531.9K – $709.2K
NOI $42,552 @ 7.0% cap · market cap 15.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Triplex unit mix includes 3BR/1BA plus 1BR and studio, with updated major systems and off-street parking.
Where is this triplex located?
The property is located at 1205 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: Triplex with 3BR/1BA on the main floor plus a 1BR unit and a studio apartment; Fully rented with month‑to‑month tenants; Full poured basement and large off‑street parking plus a 0.12‑acre lot
