Listing Agency: RE/MAX Port Cities

Listed By: Kevin B Hansen · License #90-41286 Show Phone

Source: Compass

Added: Apr 23, 2025 Changed: Oct 14 Last Checked: Oct 16 at 10:27AM

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,442

Cap Rate

7.41%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$368,840 $368.8K

Cap Rate 7%

$263,457 $263.5K

Cap Rate 9%

$204,911 $204.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,112 SF

Gross rent

$27.9K $13.20/SF

− Vacancy

−$1.5K −$0.73/SF

EGI

$26.3K $12.47/SF

− OpEx

−$7.9K −$3.74/SF

NOI

$18.4K $8.73/SF

Area

Kewaunee County, WI

Vacancy

5.50%

Lease Rate

$13.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$368,840

Cap Rate 7%

$263,457

Cap Rate 9%

$204,911

Alternative Uses

Best Use

Multifamily LT 5

$263.5K

$230.5K – $307.4K (±1% cap)

NOI $18,442 @ 7.0% cap · market cap 7.41%

Second Best

Apartment 5plus

$245.4K

$214.7K – $286.3K (±1% cap)

NOI $17,179 @ 7.0% cap · market cap 6.90%

Theoretical Best

Office A

$492.4K

$430.9K – $574.5K (±1% cap)

NOI $34,468 @ 7.0% cap · market cap 13.84%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Sunset Beach Condominiums Condominium Complex Sunset Beach Motel ... Hotel & Motel

Location Intelligence

Trade Area within ½ mile

6

Businesses Nearby

Explore this area Business Placement

Demographics for 54217, WI

7,713

Population

3,265

Households

2.4

Avg Household Size

42

Median Age

26%

College-Educated

95%

High-School Grad

112.0 sq mi

ZIP Area

69

Density / Sq Mi

$85,893

Median Household Income

$46,822

Median Earnings

$956

Median Rent

$255,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

Where is this residential land & home lot located?

The property is located at N8931 County Rd DK Luxemburg, WI.

What is the asking price?

The asking price for this property is $249,000.