Quadplex with Attached
For Sale
$595,000
1304 Hammond Ave, Superior, WI 54880
Four heated, insulated attached garages and off-street parking support a versatile quadplex layout with multiple living levels.
Property Size5,921 SF
Price / SF$100.49
Days on Market61
Property Features for 1304 Hammond Ave
General Information
Standard status
Active
Size
5,921 SF
Taxes and HOA fees
Annual Taxes
$6,774
Amenities
private rooftop deck
laundry room
recreation room
Listing Agency:
RE/MAX Results
(715) 392-1111
Listed By:
Mike Raivala · License #20437768|WI58124-90
(218) 591-6453
Source:
Exprealty
Added: Jul 16
Changed: Sep 11
Last Checked: Sep 13 at 3:58PM
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 quadplex on a corner lot offers a versatile interior layout across three main levels plus a full basement. At the entry level, expansive rooms and character-rich space provide flexibility for multiple configurations. The property also includes four heated, insulated attached garages with off-street parking behind them.
On the second level, there is an enormous 4-bedroom apartment with a kitchen, dining room, laundry room, primary suite, and a private rooftop deck. The third floor adds a massive recreation room.
A full basement provides additional room for practical use, including office space, a utility room, and a large area that can support further functionality or storage. Overall, the building is sized at 5,921 square feet and is positioned for a range of residential-oriented uses.
On the second level, there is an enormous 4-bedroom apartment with a kitchen, dining room, laundry room, primary suite, and a private rooftop deck. The third floor adds a massive recreation room.
A full basement provides additional room for practical use, including office space, a utility room, and a large area that can support further functionality or storage. Overall, the building is sized at 5,921 square feet and is positioned for a range of residential-oriented uses.
Key Highlights
- Corner‑lot quadplex with versatile multi‑level layout
- Four heated, insulated attached garages plus off‑street parking behind
- Second level: 4‑bedroom apartment with kitchen, dining, laundry, primary suite and rooftop deck
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
$49,351
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
8.29%
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%
$987,020
$987.0K
Cap Rate 7%
$705,014
$705.0K
Cap Rate 9%
$548,344
$548.3K
Market Conditions
NOI Build-Up for 5,921 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
$74.6K $12.60/SF
− Vacancy
−$4.1K −$0.69/SF
EGI
$70.5K $11.91/SF
− OpEx
−$21.2K −$3.57/SF
NOI
$49.4K $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%
$987,020
Cap Rate 7%
$705,014
Cap Rate 9%
$548,344
Alternative Uses
Best Use
Multifamily LT 5
$705.0K
$616.9K – $822.5K
NOI $49,351 @ 7.0% cap · market cap 8.29%
Second Best
Apartment 5plus
$620.5K
$543.0K – $723.9K
NOI $43,436 @ 7.0% cap · market cap 7.30%
Theoretical Best
Specialty Retail
$1.87M
$1.63M – $2.18M
NOI $130,679 @ 7.0% cap · market cap 21.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,082
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Four heated, insulated attached garages and off-street parking support a versatile quadplex layout with multiple living levels.
Where is this quadplex located?
The property is located at 1304 Hammond Ave Superior, WI.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Corner‑lot quadplex with versatile multi‑level layout; Four heated, insulated attached garages plus off‑street parking behind; Second level: 4‑bedroom apartment with kitchen, dining, laundry, primary suite and rooftop deck
