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 Market8
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 11
Changed: Sep 17
Last Checked: Sep 18 at 11:43AM
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.
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 = 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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Current Use
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
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Market
Vacancy Rate% for Multifamily in Midwest region
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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
