Two-Building Quadplex
New
For Sale
$649,000
2241 IMPERIAL Lane, Green Bay, WI 54302
Residential Income, GREEN BAY, WI
Property Size3,856 SF
Lot Size0.38 Acres
Price / SF$168.31
Days on Market1
Property Features for 2241 IMPERIAL Lane
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family(5+Units)
Elementary school district
Green Bay Area
Middle school district
Green Bay Area
High school district
Green Bay Area
Directions
East on E. Mason St, Left on Manitowoc Rd, Right on Winter Ln, Left on Imperial Ln, Left to Property
Standard status
Active
APN
21-3376
Size
3,856 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8616
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
off-street parking
basement laundry hookups
separate storage units
individual heat controls
dedicated water heater
wall-mounted A/C unit
electricity separately metered
Building Details
Year built
1975
Number of units
8
Building materials
Brick
Listing Agency:
Keller Williams Green Bay · Keller Williams Realty
(920) 632-7702
Listed By:
Matt Jorgenson · License #90-59236
(920) 360-9342
Added: Aug 25
Last Checked: Aug 25 at 9:06PM
MLS# 50331634
Copyright © 2026 Realtor Association of Northeast Wisconsin. 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 residential income property includes two brick buildings constructed in 1975, with four units in each building and 8 total units. Every unit provides 1 bedroom and 1 bathroom, along with individual heat controls, a dedicated water heater, and a wall-mounted A/C unit. Electricity is separately metered. Basement laundry hookups and individual storage units serve the property, while off-street parking is also provided.
The 0.38-acre property is located in Green Bay, Wisconsin, within Brown County. Public water and public sewer serve the buildings, and a utility easement is in place for electric and gas service. The property is zoned Multi-Family(5+Units).
The 0.38-acre property is located in Green Bay, Wisconsin, within Brown County. Public water and public sewer serve the buildings, and a utility easement is in place for electric and gas service. The property is zoned Multi-Family(5+Units).
Key Highlights
- Two 4‑unit buildings provide 8 total units
- Each unit includes 1 bedroom and 1 bathroom
- Individual heat controls, dedicated water heaters, and wall‑mounted A/C 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
$33,670
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
5.19%
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%
$673,400
$673.4K
Cap Rate 7%
$481,000
$481.0K
Cap Rate 9%
$374,111
$374.1K
Market Conditions
NOI Build-Up for 3,856 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
$50.9K $13.20/SF
− Vacancy
−$2.8K −$0.73/SF
EGI
$48.1K $12.47/SF
− OpEx
−$14.4K −$3.74/SF
NOI
$33.7K $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%
$673,400
Cap Rate 7%
$481,000
Cap Rate 9%
$374,111
Alternative Uses
Best Use
Multifamily LT 5
$481.0K
$420.9K – $561.2K
NOI $33,670 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$448.1K
$392.1K – $522.7K
NOI $31,364 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$899.0K
$786.6K – $1.05M
NOI $62,930 @ 7.0% cap · market cap 9.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
Explore this area
Business Placement
Demographics for 54302, WI
31,327
Population
13,390
Households
2.3
Avg Household Size
34
Median Age
19%
College-Educated
81%
High-School Grad
9.2 sq mi
ZIP Area
3,405
Density / Sq Mi
$55,772
Median Household Income
$37,257
Median Earnings
$881
Median Rent
$164,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Brick rental buildings with separately metered electricity, private storage, laundry hookups, and off-street parking.
Where is this quadplex located?
The property is located at 2241 IMPERIAL Lane Green Bay, WI.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Two 4‑unit buildings provide 8 total units; Each unit includes 1 bedroom and 1 bathroom; Individual heat controls, dedicated water heaters, and wall‑mounted A/C units
