Mixed-Use Property with Detached
For Sale
$499,900
1791 Superior St, Three Lakes, WI 54562
Commercial space and three apartments support a five-tenant mixed-use configuration.
Property Size6,724 SF
Days on Market133
Property Features for 1791 Superior St
General Information
Standard status
Active
Size
6,724 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,586
Building Details
Building Size
6,724 SF
Buildings
2
Units
5
Tenancy
Multi
Listing Agency:
Redman Realty Group, LLC
(715) 891-5992
Listed By:
Jeremy Oberlander · License #86995-94
(715) 891-5992
Source:
Northwoodswi
Added: Apr 9
Changed: Aug 18
Last Checked: Aug 19 at 3:24PM
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 Redman Realty Group, LLC
Investment Insights
Based on property information with market context.
This mixed-use property combines 3,362 square feet of main-level commercial space with three residential apartments. The commercial area is suited to retail or office occupancy, while the residential component includes two two-bedroom units and one one-bedroom unit. Together, the property has five income-generating tenants across its commercial and residential spaces.
A detached 24-by-55-foot garage provides an additional functional component that can support separate rental use or personal use. The property is in the heart of Three Lakes, near the Chain of Lakes and snowmobile trails, placing the asset within a Northwoods community with tourism-oriented surroundings.
A detached 24-by-55-foot garage provides an additional functional component that can support separate rental use or personal use. The property is in the heart of Three Lakes, near the Chain of Lakes and snowmobile trails, placing the asset within a Northwoods community with tourism-oriented surroundings.
Key Highlights
- 3,362 SF of main‑floor commercial space
- Three apartments: two 2‑bedroom units and one 1‑bedroom unit
- Five income‑generating tenants across commercial and residential spaces
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
$39,176
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
7.84%
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%
$783,520
$783.5K
Cap Rate 7%
$559,657
$559.7K
Cap Rate 9%
$435,289
$435.3K
Market Conditions
NOI Build-Up for 6,724 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
$68.6K $10.20/SF
− Vacancy
−$12.6K −$1.88/SF
EGI
$56.0K $8.32/SF
− OpEx
−$16.8K −$2.50/SF
NOI
$39.2K $5.83/SF
Area
Oneida County, WI
Vacancy
18.40%
Lease Rate
$10.20 /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%
$783,520
Cap Rate 7%
$559,657
Cap Rate 9%
$435,289
Alternative Uses
Best Use
Retail
$864.5K
$756.4K – $1.01M
NOI $60,514 @ 7.0% cap · market cap 12.11%
Second Best
Mixed Use
$708.0K
$619.5K – $826.1K
NOI $49,563 @ 7.0% cap · market cap 9.91%
Theoretical Best
Industrial
$3.15M
$2.75M – $3.67M
NOI $220,300 @ 7.0% cap · market cap 44.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Explore this area
Business Placement
Demographics for 54562, WI
2,093
Population
2,878
Households
0.7
Avg Household Size
57
Median Age
39%
College-Educated
98%
High-School Grad
144.4 sq mi
ZIP Area
14
Density / Sq Mi
$67,875
Median Household Income
$34,722
Median Earnings
$964
Median Rent
$291,800
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?
Mixed-use property - Commercial space and three apartments support a five-tenant mixed-use configuration.
Where is this mixed-use property located?
The property is located at 1791 Superior St Three Lakes, WI.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 3,362 SF of main‑floor commercial space; Three apartments: two 2‑bedroom units and one 1‑bedroom unit; Five income‑generating tenants across commercial and residential spaces
