Historic 12-Unit Apartment
New
For Sale
$695,000
1416 MAIN STREET S, Stevens Point, WI 54481
Multi-Family, Stevens Point, WI
Property Size6,462 SF
Lot Size0.24 Acres
Price / SF$107.55
Days on Market2
Property Features for 1416 MAIN STREET S
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
Parking Lot
Security features
Security System
Patio and Porch features
Patio, Porch
Interior features
Ceiling Fan(s), Smoke Detector, Security System, Window Treatments, Cable/Satellite Available
Appliances
Refrigerator, Range, Microwave, Washer, Dryer
Directions
crner of Main and Prentic
Subdivision
Stevens Point
Standard status
Active
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5454
Utilities
Heating system
Steam, Hot Water(Heating)
Building Details
Year built
1886
Building materials
Brick, Wood
Listing Agency:
QUORUM ENTERPRISES, INC.
(920) 490-7446
Listed By:
LESLIE BOYEA · License #8248094
(920) 360-4240
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 12 at 8:06PM
MLS# 22604523
Copyright © 2026 Central Wisconsin MLS. 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.
Built in 1886, this historic apartment property contains 12 apartments within more than 6,462 sq ft across two floors. The current owner-occupied configuration includes 21 rooms, 5 bathrooms, kitchens and living areas, and a full basement with two separate entrances. The largest apartment has 2 bedrooms, 1 bathroom, a kitchen, living room, dining room, basement access, and access to the 3+ car garage. Brick and wood construction is complemented by a porch, patio, appliances, security system, and window treatments.
The building sits in downtown Stevens Point and carries B3 Central Business District zoning. Exterior parking includes spaces beside the garage plus 8 additional spaces in the adjoining lot to the west. The third floor is ready for future development, while the property is also described as convertible to a single-family residence. The sale is AS IS.
The building sits in downtown Stevens Point and carries B3 Central Business District zoning. Exterior parking includes spaces beside the garage plus 8 additional spaces in the adjoining lot to the west. The third floor is ready for future development, while the property is also described as convertible to a single-family residence. The sale is AS IS.
Key Highlights
- 12 apartments and 21 rooms across more than 6,462 sq ft
- Built in 1886 with brick and wood construction
- B3 Central Business District zoning in downtown Stevens Point
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
$48,057
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
6.91%
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%
$961,140
$961.1K
Cap Rate 7%
$686,529
$686.5K
Cap Rate 9%
$533,967
$534.0K
Market Conditions
NOI Build-Up for 6,462 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
$93.1K $14.40/SF
− Vacancy
−$5.7K −$0.88/SF
EGI
$87.4K $13.52/SF
− OpEx
−$39.3K −$6.08/SF
NOI
$48.1K $7.44/SF
Area
Portage County, WI
Vacancy
6.10%
Lease Rate
$14.40 /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%
$961,140
Cap Rate 7%
$686,529
Cap Rate 9%
$533,967
Alternative Uses
Best Use
Apartment 5plus
$686.5K
$600.7K – $801.0K
NOI $48,057 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.26M
$1.10M – $1.47M
NOI $88,030 @ 7.0% cap · market cap 12.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
12
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,366
Businesses Nearby
Explore this area
Business Placement
Demographics for 54481, WI
28,100
Population
12,697
Households
2.2
Avg Household Size
32
Median Age
38%
College-Educated
96%
High-School Grad
65.6 sq mi
ZIP Area
428
Density / Sq Mi
$57,234
Median Household Income
$29,506
Median Earnings
$853
Median Rent
$191,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-story brick-and-wood property with a full basement, parking, shared facilities, and a third floor ready for future development.
Where is this apartment building located?
The property is located at 1416 MAIN STREET S Stevens Point, WI.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 12 apartments and 21 rooms across more than 6,462 sq ft; Built in 1886 with brick and wood construction; B3 Central Business District zoning in downtown Stevens Point
