Building Details

Year Built 1972

Buildings 2

Listed By: Shane Renard - Principal Broker Owner Show Phone

Source: Renardrealtygroup

Added: Sep 20 Last Checked: Sep 22 at 4:07PM

Report an Issue

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 Shane Renard - Principal Broker Owner

Investment Insights

Based on property information with market context.

This multifamily property includes two four-unit apartment buildings totaling 8 units and 4,616 SF. Each apartment is equipped with a stove and refrigerator, while heating is provided by boiler/gas systems. Select units feature newer carpet and bathroom tile. One building offers a full basement for storage, while the second has a slab foundation.

The property is located at 121 W Glenbrook Dr in Pulaski, WI 54162. Exterior improvements include a newer metal roof, outdoor parking, and two detached garage structures: one with 4 stalls and another with 2 stalls. Shared laundry is available through 1 washer and 1 dryer located in a unit. The property was built in 1972 and includes a large lot with room for further development.

Key Highlights

• 8 total apartment units across two four‑unit buildings
• 4,616 SF multifamily property built in 1972
• Detached garages with 4 stalls and 2 stalls

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

$40,402

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

6.73%

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%

$808,040 $808.0K

Cap Rate 7%

$577,171 $577.2K

Cap Rate 9%

$448,911 $448.9K

Market Conditions

NOI Build-Up for 4,616 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

$75.9K $16.44/SF

− Vacancy

−$2.4K −$0.53/SF

EGI

$73.5K $15.91/SF

− OpEx

−$33.1K −$7.16/SF

NOI

$40.4K $8.75/SF

Area

Brown County, WI

Vacancy

3.20%

Lease Rate

$16.44 /SF/Yr

Expense Ratio

45.00%

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%

$808,040

Cap Rate 7%

$577,171

Cap Rate 9%

$448,911

Alternative Uses

Best Use

Apartment 5plus

$577.2K

$505.0K – $673.4K (±1% cap)

NOI $40,402 @ 7.0% cap · market cap 6.73%

Second Best

—

—

no second resolved use

Theoretical Best

Warehouse

$3.86M

$3.38M – $4.50M (±1% cap)

NOI $270,192 @ 7.0% cap · market cap 45.04%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Real Estate Agency Dental Office Spa & Massage Center Hair Salon Restaurant Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

8

Residential units

Location Intelligence

Trade Area within ½ mile

251

Businesses Nearby

Explore this area Business Placement

Demographics for 54162, WI

9,570

Population

3,594

Households

2.7

Avg Household Size

39

Median Age

22%

College-Educated

96%

High-School Grad

111.5 sq mi

ZIP Area

86

Density / Sq Mi

$79,053

Median Household Income

$47,170

Median Earnings

$797

Median Rent

$258,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Mixed-Use Commercial Property

118 E Pulaski St, Pulaski, WI 54162

$399,900

23,951 SF

View details

Four-Unit Quadplex

151 W GLENBROOK Drive, Pulaski, WI 54162

$324,900

2,394 SF

View details

Mixed-Use Commercial Building

118 E PULASKI Street, Pulaski, WI 54162

$399,900

0.38 Acres

View details

Frequently Asked Questions

What type of property is this?

Apartment building - Two buildings provide separate four-unit configurations with on-site parking and shared laundry.

Where is this apartment building located?

The property is located at 121 W Glenbrook Dr Pulaski, WI.

What is the asking price?

The asking price for this property is $599,900.

What are key features of this property?

This property features: 8 total apartment units across two four‑unit buildings; 4,616 SF multifamily property built in 1972; Detached garages with 4 stalls and 2 stalls