4-Unit Quadplex With Detached
For Sale
$320,000
2811 E 3rd St, Superior, WI 54880
Off-street parking, a detached garage, and coin-operated laundry support this multi-unit property.
Property Size3,288 SF
Days on Market94
Property Features for 2811 E 3rd St
General Information
Standard status
Active
Size
3,288 SF
Property subtype
Quadruplex
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,862
Amenities
coin-operated laundry
Building Details
Building Size
3,288 SF
Year Built
1885
Buildings
1
Listing Agency:
RE/MAX Results
Listed By:
Aiden Bachand · License #40737099|WI94170-94
(218) 390-9594
Source:
Visionsfirstrealty
Added: Jun 1
Changed: Aug 31
Last Checked: Aug 31 at 12:39PM
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 RE/MAX Results
Investment Insights
Based on property information with market context.
Built in 1885, this four-unit residential income property offers a quadplex configuration with spacious unit layouts. The property includes off-street parking and a detached garage, adding useful on-site support for residents and operations. Coin-operated laundry provides an additional on-site income source, while tenants pay their own electric costs.
Located in Superior’s East End, the property is suited to an owner seeking a multi-unit asset with the option to occupy one unit while leasing the others. The combination of four units, ancillary laundry income, parking, and garage space creates a practical operating configuration.
Located in Superior’s East End, the property is suited to an owner seeking a multi-unit asset with the option to occupy one unit while leasing the others. The combination of four units, ancillary laundry income, parking, and garage space creates a practical operating configuration.
Key Highlights
- Four‑unit quadplex built in 1885
- Spacious unit layouts
- Off‑street parking included
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
$27,405
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
8.56%
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%
$548,100
$548.1K
Cap Rate 7%
$391,500
$391.5K
Cap Rate 9%
$304,500
$304.5K
Market Conditions
NOI Build-Up for 3,288 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
$41.4K $12.60/SF
− Vacancy
−$2.3K −$0.69/SF
EGI
$39.2K $11.91/SF
− OpEx
−$11.7K −$3.57/SF
NOI
$27.4K $8.33/SF
Area
Douglas County, WI
Vacancy
5.50%
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%
$548,100
Cap Rate 7%
$391,500
Cap Rate 9%
$304,500
Alternative Uses
Best Use
Multifamily LT 5
$391.5K
$342.6K – $456.8K
NOI $27,405 @ 7.0% cap · market cap 8.56%
Second Best
Apartment 5plus
$344.6K
$301.5K – $402.0K
NOI $24,120 @ 7.0% cap · market cap 7.54%
Theoretical Best
Specialty Retail
$1.04M
$907.1K – $1.21M
NOI $72,568 @ 7.0% cap · market cap 22.68%
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
138
Businesses Nearby
Explore this area
Business Placement
Demographics for 54880, WI
30,400
Population
14,325
Households
2.1
Avg Household Size
39
Median Age
28%
College-Educated
94%
High-School Grad
166.1 sq mi
ZIP Area
183
Density / Sq Mi
$66,942
Median Household Income
$40,813
Median Earnings
$901
Median Rent
$176,700
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 - Off-street parking, a detached garage, and coin-operated laundry support this multi-unit property.
Where is this quadplex located?
The property is located at 2811 E 3rd St Superior, WI.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1885; Spacious unit layouts; Off‑street parking included
