Historic Five-Unit Apartment
For Sale
$1,200,000
1434 Cass St, La Crosse, WI 54601
Includes distinctive architectural details, a bowling alley, and a separate carriage house.
Property Size10,300 SF
Price / SF$116.50
Days on Market13
Property Features for 1434 Cass St
General Information
Standard status
Active
Size
10,300 SF
Property subtype
Commercial
Additional Details
Multifamily Units
5
Amenities
bowling alley
Building Details
Year Built
1894
Listing Agency:
eXp Realty LLC
(608) 785-0888
Listed By:
Hayden Schmidt · License #9357594
Source:
Viewhomesinwisconsin
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 28 at 7:04PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
Built in 1894, this 10,300-square-foot apartment property is configured with five units and retains distinctive architectural features, including turrets and spacious rooms. A bowling alley adds an uncommon recreational component, while the separate carriage house provides additional physical space within the property. The current operating arrangement includes one Airbnb unit and four units under long-term leases.
The property is located at 1434 Cass St in La Crosse, Wisconsin, directly opposite a park. Its combination of historic construction, substantial interior scale, specialized features, and an additional carriage house distinguishes it from a conventional apartment building.
The property is located at 1434 Cass St in La Crosse, Wisconsin, directly opposite a park. Its combination of historic construction, substantial interior scale, specialized features, and an additional carriage house distinguishes it from a conventional apartment building.
Key Highlights
- 10,300‑square‑foot apartment property built in 1894
- Configured as a 5‑unit apartment building
- One Airbnb unit and 4 long‑term leases
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
$83,711
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
6.98%
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%
$1,674,220
$1.7M
Cap Rate 7%
$1,195,871
$1.2M
Cap Rate 9%
$930,122
$930.1K
Market Conditions
NOI Build-Up for 10,300 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
$161.9K $15.72/SF
− Vacancy
−$9.7K −$0.94/SF
EGI
$152.2K $14.78/SF
− OpEx
−$68.5K −$6.65/SF
NOI
$83.7K $8.13/SF
Area
La Crosse County, WI
Vacancy
6.00%
Lease Rate
$15.72 /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%
$1,674,220
Cap Rate 7%
$1,195,871
Cap Rate 9%
$930,122
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $83,711 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.25M
$1.97M – $2.63M
NOI $157,683 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,416
Businesses Nearby
Explore this area
Business Placement
Demographics for 54601, WI
51,090
Population
22,652
Households
2.3
Avg Household Size
32
Median Age
40%
College-Educated
96%
High-School Grad
75.4 sq mi
ZIP Area
678
Density / Sq Mi
$60,078
Median Household Income
$31,143
Median Earnings
$998
Median Rent
$220,200
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?
Apartment building - Includes distinctive architectural details, a bowling alley, and a separate carriage house.
Where is this apartment building located?
The property is located at 1434 Cass St La Crosse, WI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 10,300‑square‑foot apartment property built in 1894; Configured as a 5‑unit apartment building; One Airbnb unit and 4 long‑term leases
