Equipped Custom Cabinet
For Sale
$175,000
1510 Hughitt Ave, Superior, WI 54880
COMMERCIAL - Superior, WI
Property Size2,588 SF
Lot Size0.02 Acres
Price / SF$67.62
Days on Market88
Property Features for 1510 Hughitt Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1
Basement
Concrete
Directions
Belknap to Hughitt Ave
Subdivision
LSAR
Standard status
Active
Size
2,588 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Heating system
Natural Gas, Forced Air
Building Details
Number of units
1
Roof type
Rubber
Listing Agency:
RE/MAX Results · RE/MAX International
(952) 829-2900
Listed By:
Mike Raivala · License #2063400
(952) 829-2900
Added: May 24
Changed: Aug 5
Last Checked: Aug 19 at 7:06PM
MLS# 6124005
Copyright © 2026 Lake Superior Association of REALTORS®. 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.
This turnkey custom cabinet and woodworking shop is set up for continued production, with equipment and operating materials included for immediate use. The operation is housed in a 2,588-square-foot building on a 0.02-acre lot, with a rubber roof and natural gas forced-air heating. A bathroom is included in the layout.
The facility is built around cabinetmaking and production work, supported by a range of professional woodworking machinery and shop systems, including CNC equipment, edge-banding equipment, table saws, joiners, sanders, air compressors, dust-collection systems, door-drying racks, pneumatic equipment, and finishing tools. The shop also includes specialty woodworking hardware and a broad assortment of materials and accessories used for custom cabinet and millwork production.
A lease is in place, and the landlord covers water, sewer, trash, property taxes, snow removal, and lawn care. The sale is described as including the full operation for continuity of day-to-day shop activities.
The facility is built around cabinetmaking and production work, supported by a range of professional woodworking machinery and shop systems, including CNC equipment, edge-banding equipment, table saws, joiners, sanders, air compressors, dust-collection systems, door-drying racks, pneumatic equipment, and finishing tools. The shop also includes specialty woodworking hardware and a broad assortment of materials and accessories used for custom cabinet and millwork production.
A lease is in place, and the landlord covers water, sewer, trash, property taxes, snow removal, and lawn care. The sale is described as including the full operation for continuity of day-to-day shop activities.
Key Highlights
- 2,588‑square‑foot custom cabinet and woodworking shop on a 0.02‑acre lot
- Natural gas forced‑air heating and rubber roof
- Production‑focused shop equipment includes CNC, edge‑banding, table saws, joiners, and sanders
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
$10,460
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
5.98%
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%
$209,200
$209.2K
Cap Rate 7%
$149,429
$149.4K
Cap Rate 9%
$116,222
$116.2K
Market Conditions
NOI Build-Up for 2,588 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
$15.2K $5.88/SF
− Vacancy
−$274 −$0.11/SF
EGI
$14.9K $5.77/SF
− OpEx
−$4.5K −$1.73/SF
NOI
$10.5K $4.04/SF
Area
Douglas County, WI
Vacancy
1.80%
Lease Rate
$5.88 /SF/Yr
Expense Ratio
30.00%
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%
$209,200
Cap Rate 7%
$149,429
Cap Rate 9%
$116,222
Alternative Uses
Best Use
Industrial
$149.4K
$130.8K – $174.3K
NOI $10,460 @ 7.0% cap · market cap 5.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$816.0K
$714.0K – $952.0K
NOI $57,118 @ 7.0% cap · market cap 32.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,044
Businesses Nearby
Explore this area
Business Placement
Demographics for 54880, WI
30,400
Population
14,325
Households
2.1
Avg Household Size
39
Median Age
28%
College-Educated
94%
High-School Grad
166.1 sq mi
ZIP Area
183
Density / Sq Mi
$66,942
Median Household Income
$40,813
Median Earnings
$901
Median Rent
$176,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Turnkey custom cabinet and woodworking shop in a small manufacturing building with natural gas forced-air heat and rubber roof.
Where is this manufacturing property located?
The property is located at 1510 Hughitt Ave Superior, WI.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 2,588‑square‑foot custom cabinet and woodworking shop on a 0.02‑acre lot; Natural gas forced‑air heating and rubber roof; Production‑focused shop equipment includes CNC, edge‑banding, table saws, joiners, and sanders
