Historic Apartment
For Sale
$695,000
1416 Main St, Stevens Point, WI 54481
Downtown multifamily property with flexible unit layouts, shared amenities, basement access, and additional parking.
Property Size6,462 SF
Price / SF$107.55
Days on Market49
Property Features for 1416 Main St
General Information
Standard status
Active
Size
6,462 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$5,453
Listing Agency:
Quorum Enterprises, Inc.
Listed By:
Leslie Boyea · License #8248094
(920) 490-7446
Source:
Exprealty
Added: Sep 16
Changed: Oct 28
Last Checked: Nov 1 at 12:10PM
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 Quorum Enterprises, Inc.
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Investment Insights
Based on property information with market context.
Located at 1416 Main St in downtown Stevens Point, this historic two-floor apartment building contains 12 units within more than 6,462 square feet. The property includes 13 bedrooms, 5 bathrooms, and 21 total rooms, with most apartments arranged as compact one- or two-room units. Three bathrooms serve multiple apartments, while the largest residence provides 2 bedrooms, 1 bathroom, a kitchen, living room, dining room, basement access, and entry to the 3+ car garage.
The full basement has two separate entrances, and the site includes outdoor parking along with 8 additional spaces in the adjoining lot to the west. A walkable third floor offers additional unfinished area. Zoned B3 Central Business District, the building is currently owner-occupied and used as a multi-rental property. It is being sold AS IS and could also be converted to a single-family residence.
The full basement has two separate entrances, and the site includes outdoor parking along with 8 additional spaces in the adjoining lot to the west. A walkable third floor offers additional unfinished area. Zoned B3 Central Business District, the building is currently owner-occupied and used as a multi-rental property. It is being sold AS IS and could also be converted to a single-family residence.
Key Highlights
- 12‑unit apartment building with 13 bedrooms, 5 bathrooms, and 21 total rooms
- More than 6,462 sq. ft. across two floors
- B3 Central Business District zoning in downtown Stevens Point
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,057
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
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
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 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.
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Location Intelligence
Trade Area within ½ mile
1,366
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Downtown multifamily property with flexible unit layouts, shared amenities, basement access, and additional parking.
Where is this apartment building located?
The property is located at 1416 Main St 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‑unit apartment building with 13 bedrooms, 5 bathrooms, and 21 total rooms; More than 6,462 sq. ft. across two floors; B3 Central Business District zoning in downtown Stevens Point
