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 Market65
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:
Woodland Lakes Realty, LLC
(715) 224-3800
Listed By:
Kelly Weiler
(715) 965-1234
Source:
Familytreerealtyllc
Added: Aug 13
Changed: Oct 15
Last Checked: Oct 14 at 10:46PM
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 Woodland Lakes Realty, LLC
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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 / Yr
$14,957
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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
