Triplex with On-Site
For Sale
$292,500
2240 Main Street, Stevens Point, WI 54481
Three residential units include basement access, on-site laundry, and leases extending into 2027.
Property Size1,800 SF
Price / SF$162.50
Days on Market20
Property Features for 2240 Main Street
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR, 1 x 5BR
Multifamily Units
3
Amenities
on-site laundry
Building Details
Year Built
1900
Listing Agency:
Norwisrealty.Com LLC
(715) 965-1234
Listed By:
Kelly Weiler
(715) 965-1234
Source:
Familytreerealtyllc
Added: Aug 13
Changed: Aug 31
Last Checked: Aug 31 at 2:47PM
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 Norwisrealty.Com LLC
Investment Insights
Based on property information with market context.
This triplex contains two two-bedroom units and one five-bedroom unit. Each unit has basement access, and laundry facilities are available on site. The property was built in 1900 and has leases in place extending into 2027.
Located next to UWSP in Stevens Point, the property is near schools, medical services, and shopping. The three-unit configuration provides a mix of bedroom counts within one residential income property.
Located next to UWSP in Stevens Point, the property is near schools, medical services, and shopping. The three-unit configuration provides a mix of bedroom counts within one residential income property.
Key Highlights
- Three‑unit property with two 2 BR units and one 5 BR unit
- Leases in place into 2027
- Basement access provided for all units
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
$14,957
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
5.11%
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%
$299,140
$299.1K
Cap Rate 7%
$213,671
$213.7K
Cap Rate 9%
$166,189
$166.2K
Market Conditions
NOI Build-Up for 1,800 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
$22.7K $12.60/SF
− Vacancy
−$1.3K −$0.73/SF
EGI
$21.4K $11.87/SF
− OpEx
−$6.4K −$3.56/SF
NOI
$15.0K $8.31/SF
Area
Portage County, WI
Vacancy
5.79%
Lease Rate
$12.60 /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%
$299,140
Cap Rate 7%
$213,671
Cap Rate 9%
$166,189
Alternative Uses
Best Use
Multifamily LT 5
$213.7K
$187.0K – $249.3K
NOI $14,957 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$191.2K
$167.3K – $223.1K
NOI $13,386 @ 7.0% cap · market cap 4.58%
Theoretical Best
Specialty Retail
$350.3K
$306.5K – $408.7K
NOI $24,521 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
944
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units include basement access, on-site laundry, and leases extending into 2027.
Where is this triplex located?
The property is located at 2240 Main Street Stevens Point, WI.
What is the asking price?
The asking price for this property is $292,500.
What are key features of this property?
This property features: Three‑unit property with two 2 BR units and one 5 BR unit; Leases in place into 2027; Basement access provided for all units
