Brick Exterior
For Sale
$425,000
215 Cleveland St, Green Bay, WI 54303
Four-unit property with basement storage, one vacant unit, and individual indoor basement access for residents.
Property Size2,343 SF
Price / SF$181.39
Days on Market48
Property Features for 215 Cleveland St
General Information
Standard status
Active
Size
2,343 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Amenities
individual basement storage units
indoor basement access
Building Details
Year Built
1979
Construction
brick
Listing Agency:
(920) 574-4422
Listed By:
Tiffany Holtz | Coldwell Banker
(920) 574-4422
Source:
Tiffanyholtz
Added: Jul 16
Changed: Aug 30
Last Checked: Aug 30 at 11:38PM
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 Tiffany Holtz | Coldwell Banker
Investment Insights
Based on property information with market context.
This four-unit residential income property was built in 1979 and has a low-maintenance brick exterior. The building includes individual basement storage areas, with interior basement access serving each unit. Numerous updates have been completed, and one unit is currently vacant. The property is positioned on a quiet cul-de-sac at 215 Cleveland St in Green Bay, Wisconsin.
The property is located 2.2 miles from Lambeau Field and near shopping, dining, and parks. Longtime tenants occupy the other units, providing established tenancy alongside the available unit. The property size is listed as 2,343, and the four-unit configuration supports both rental operations and owner occupancy.
The property is located 2.2 miles from Lambeau Field and near shopping, dining, and parks. Longtime tenants occupy the other units, providing established tenancy alongside the available unit. The property size is listed as 2,343, and the four-unit configuration supports both rental operations and owner occupancy.
Key Highlights
- Four‑unit property built in 1979
- Low‑maintenance brick exterior
- One unit currently vacant
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
$20,459
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
4.81%
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%
$409,180
$409.2K
Cap Rate 7%
$292,271
$292.3K
Cap Rate 9%
$227,322
$227.3K
Market Conditions
NOI Build-Up for 2,343 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
$30.9K $13.20/SF
− Vacancy
−$1.7K −$0.73/SF
EGI
$29.2K $12.47/SF
− OpEx
−$8.8K −$3.74/SF
NOI
$20.5K $8.73/SF
Area
Green Bay, WI
Vacancy
5.50%
Lease Rate
$13.20 /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%
$409,180
Cap Rate 7%
$292,271
Cap Rate 9%
$227,322
Alternative Uses
Best Use
Multifamily LT 5
$292.3K
$255.7K – $341.0K
NOI $20,459 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$272.3K
$238.2K – $317.6K
NOI $19,058 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$546.3K
$478.0K – $637.3K
NOI $38,238 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
303
Businesses Nearby
Explore this area
Business Placement
Demographics for 54303, WI
27,478
Population
13,088
Households
2.1
Avg Household Size
36
Median Age
18%
College-Educated
91%
High-School Grad
11.5 sq mi
ZIP Area
2,389
Density / Sq Mi
$58,110
Median Household Income
$38,983
Median Earnings
$859
Median Rent
$160,100
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?
Quadplex - Four-unit property with basement storage, one vacant unit, and individual indoor basement access for residents.
Where is this quadplex located?
The property is located at 215 Cleveland St Green Bay, WI.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Four‑unit property built in 1979; Low‑maintenance brick exterior; One unit currently vacant
