18-Unit Apartment
For Sale
$1,850,000
3701 Robert Pl, Stevens Point, WI 54481
Leased apartment property with on-site coin-operated laundry.
Property Size13,616 SF
Price / SF$135.87
Days on Market100
Property Features for 3701 Robert Pl
General Information
Standard status
Active
Size
13,616 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
13 x 1BR/1BA, 5 x 2BR/1BA
Multifamily Units
18
Taxes and HOA fees
Annual Taxes
$20,497
Amenities
on-site laundry
Building Details
Tenancy
Multi
Listing Agency:
KPR BROKERS, LLC
(715) 598-6367
Listed By:
TEAM KITOWSKI · License #5963794
(715) 598-6367
Source:
Exprealty
Added: May 19
Changed: Aug 24
Last Checked: Aug 25 at 10:43AM
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 KPR BROKERS, LLC
Investment Insights
Based on property information with market context.
Located at 3701 Robert Pl in Stevens Point, Wisconsin, this apartment building contains 18 units and was built in 1966. The configuration includes 13 one-bedroom, one-bath apartments measuring 600 square feet each, along with 5 two-bedroom, one-bath apartments measuring 720 square feet each.
All units are currently leased, with several long-term tenants in place. Coin-operated laundry facilities are located on the lower level. The property has access to nearby parks, schools, shopping, and grocery stores, and is zoned Commercial.
All units are currently leased, with several long-term tenants in place. Coin-operated laundry facilities are located on the lower level. The property has access to nearby parks, schools, shopping, and grocery stores, and is zoned Commercial.
Key Highlights
- 18‑unit apartment building constructed in 1966
- 13 one‑bedroom, one‑bath units at 600 square feet each
- 5 two‑bedroom, one‑bath units at 720 square feet each
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
$101,261
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
5.47%
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%
$2,025,220
$2.0M
Cap Rate 7%
$1,446,586
$1.4M
Cap Rate 9%
$1,125,122
$1.1M
Market Conditions
NOI Build-Up for 13,616 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
$196.1K $14.40/SF
− Vacancy
−$12.0K −$0.88/SF
EGI
$184.1K $13.52/SF
− OpEx
−$82.8K −$6.08/SF
NOI
$101.3K $7.44/SF
Area
Portage County, WI
Vacancy
6.10%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
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%
$2,025,220
Cap Rate 7%
$1,446,586
Cap Rate 9%
$1,125,122
Alternative Uses
Best Use
Apartment 5plus
$1.45M
$1.27M – $1.69M
NOI $101,261 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.65M
$2.32M – $3.09M
NOI $185,488 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
268
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?
Apartment building - Leased apartment property with on-site coin-operated laundry.
Where is this apartment building located?
The property is located at 3701 Robert Pl Stevens Point, WI.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 18‑unit apartment building constructed in 1966; 13 one‑bedroom, one‑bath units at 600 square feet each; 5 two‑bedroom, one‑bath units at 720 square feet each
