3-Unit Triplex with Sprinkler
For Sale
$315,000
535 Algoma Boulevard, Oshkosh, WI 54901
Three apartments with off-street parking, on-site laundry, and access to UW-Oshkosh, downtown amenities, and public transit.
Property Size3,574 SF
Price / SF$88.14
Days on Market16
Property Features for 535 Algoma Boulevard
General Information
Standard status
Active
Size
3,574 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Sprinkler System
Yes
Multifamily Units
3
Amenities
on-site laundry
Building Details
Year Built
1893
Stories
3
Listing Agency:
Sun Properties
(920) 420-5944
Listed By:
Peggy D. Hirschberg
Source:
Smartteamhomes
Added: Aug 17
Changed: Aug 31
Last Checked: Aug 31 at 7:34PM
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 Sun Properties
Investment Insights
Based on property information with market context.
This three-unit triplex at 535 Algoma Boulevard includes three apartments with functional layouts and good natural light. Residents have access to off-street parking and on-site laundry. A fire suppression sprinkler system extends through all three floors and the basement, supported by a water reservoir tank system. The roof is newer.
The property is positioned in Oshkosh’s University district near UW-Oshkosh, downtown amenities, and public transit. Its location places the building within an established university-area rental setting while retaining convenient access to central city services.
The property is positioned in Oshkosh’s University district near UW-Oshkosh, downtown amenities, and public transit. Its location places the building within an established university-area rental setting while retaining convenient access to central city services.
Key Highlights
- Three‑unit multifamily property near UW‑Oshkosh
- Fire suppression sprinklers installed throughout 3 floors plus the basement
- Water reservoir tank system supports the sprinkler installation
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
$24,115
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
7.66%
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%
$482,300
$482.3K
Cap Rate 7%
$344,500
$344.5K
Cap Rate 9%
$267,944
$267.9K
Market Conditions
NOI Build-Up for 3,574 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
$36.5K $10.20/SF
− Vacancy
−$2.0K −$0.56/SF
EGI
$34.4K $9.64/SF
− OpEx
−$10.3K −$2.89/SF
NOI
$24.1K $6.75/SF
Area
Winnebago County, WI
Vacancy
5.50%
Lease Rate
$10.20 /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%
$482,300
Cap Rate 7%
$344,500
Cap Rate 9%
$267,944
Alternative Uses
Best Use
Multifamily LT 5
$344.5K
$301.4K – $401.9K
NOI $24,115 @ 7.0% cap · market cap 7.66%
Second Best
Apartment 5plus
$310.5K
$271.7K – $362.3K
NOI $21,737 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$771.4K
$675.0K – $900.0K
NOI $53,998 @ 7.0% cap · market cap 17.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,263
Businesses Nearby
Explore this area
Business Placement
Demographics for 54901, WI
37,594
Population
15,381
Households
2.4
Avg Household Size
33
Median Age
24%
College-Educated
92%
High-School Grad
16.6 sq mi
ZIP Area
2,265
Density / Sq Mi
$61,734
Median Household Income
$31,289
Median Earnings
$932
Median Rent
$164,000
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 - Three apartments with off-street parking, on-site laundry, and access to UW-Oshkosh, downtown amenities, and public transit.
Where is this triplex located?
The property is located at 535 Algoma Boulevard Oshkosh, WI.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Three‑unit multifamily property near UW‑Oshkosh; Fire suppression sprinklers installed throughout 3 floors plus the basement; Water reservoir tank system supports the sprinkler installation
