Corner-Lot Mixed-Use
For Sale
$625,000
1304 Hammond Ave, Superior, WI 54880
COMMERCIAL, Superior, WI
Property Size5,921 SF
Lot Size0.28 Acres
Price / SF$105.56
Days on Market48
Property Features for 1304 Hammond Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1
Interior features
Kitchen Area, Private Resident Building, Restrooms, Fire Escape
Basement
Concrete
Directions
Hammond Ave
Subdivision
LSAR
Standard status
Active
Size
5,921 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6775
Utilities
Heating system
Electric (Heating), Hot Water(Heating), Natural Gas, Oil
Cooling system
Zoned, Ductless
Amenities
private rooftop deck
Building Details
Year built
1930
Number of units
2
Roof type
Rubber, Shingle
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 829-2900
Listed By:
Mike Raivala · License #20437768|WI58124-90
(952) 829-2900
Added: Jul 16
Changed: Aug 26
Last Checked: Sep 1 at 7:06PM
MLS# 6126803
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.
Investment Insights
Based on property information with market context.
Located at 1304 Hammond Ave in Superior, this mixed-use property occupies a 0.28-acre corner lot and was built in 1930. The building includes multiple sizable rooms on the main level, offering a range of interior configurations, along with four attached garages that are heated and insulated. Off-street parking is located behind the garage area.
The second level contains a 4-bedroom apartment with a kitchen, dining room, laundry room, primary suite, and private rooftop deck. A recreation room occupies the third floor. The full basement adds office space, a utility room, and additional open area. Interior features include restrooms, a fire escape, and a private resident building. Heating systems include natural gas, oil, electric, and hot water, while cooling is provided through ductless and zoned systems.
The second level contains a 4-bedroom apartment with a kitchen, dining room, laundry room, primary suite, and private rooftop deck. A recreation room occupies the third floor. The full basement adds office space, a utility room, and additional open area. Interior features include restrooms, a fire escape, and a private resident building. Heating systems include natural gas, oil, electric, and hot water, while cooling is provided through ductless and zoned systems.
Key Highlights
- 0.28‑acre corner‑lot property at 1304 Hammond Ave, Superior, WI 54880
- Four attached garages with heating and insulation
- Upper‑level 4‑bedroom apartment with kitchen, laundry room, 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
$43,436
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
6.95%
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%
$868,720
$868.7K
Cap Rate 7%
$620,514
$620.5K
Cap Rate 9%
$482,622
$482.6K
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
$83.1K $14.04/SF
− Vacancy
−$4.2K −$0.70/SF
EGI
$79.0K $13.34/SF
− OpEx
−$35.5K −$6.00/SF
NOI
$43.4K $7.34/SF
Area
Douglas County, WI
Vacancy
5.00%
Lease Rate
$14.04 /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%
$868,720
Cap Rate 7%
$620,514
Cap Rate 9%
$482,622
Alternative Uses
Best Use
Mixed Use
$856.4K
$749.4K – $999.2K
NOI $59,950 @ 7.0% cap · market cap 9.59%
Second Best
Apartment 5plus
$620.5K
$543.0K – $723.9K
NOI $43,436 @ 7.0% cap · market cap 6.95%
Theoretical Best
Specialty Retail
$1.87M
$1.63M – $2.18M
NOI $130,679 @ 7.0% cap · market cap 20.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible building with an upper-level apartment, multiple interior areas, four attached garages, and basement utility space.
Where is this mixed-use property located?
The property is located at 1304 Hammond Ave Superior, WI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 0.28‑acre corner‑lot property at 1304 Hammond Ave, Superior, WI 54880; Four attached garages with heating and insulation; Upper‑level 4‑bedroom apartment with kitchen, laundry room, primary suite, and rooftop deck
