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    Downtown Mixed-Use Income Property Title is generated by Realmo AI

    410 MAIN ST W, Ashland, WI 54806

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    Six-unit mixed-use building with main-level storefront and five individually heated 1BR/1BA apartments.

    Type:Multifamily, Mixed Use
    Property size:
    3,485 SF
    Price / SF:
    $129/SF
    Added:
    May 27, 2026
    Days on Market:
    12
    Last Refresh:
    Jun 6 at 4:51 am

    Property Features for 410 MAIN ST W

    General Information

    Standard status
    Active
    Size
    3,485 SF
    Property subtype
    Multifamily, Mixed Use

    Building Details

    Year Built
    2004

    We can help!

    Listing Contact
    Aiden Bachand

    Listing agent Aiden Bachand License #94170-94

    Listing office RE/MAX

    Listing date May 27, 2026

    Source Crexi

    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

    HighLights

    • 6‑unit mixed‑use building built in 2004 with one main‑level commercial storefront and five upper‑level residential units
    • Five residential units are 1 bed / 1 bath each
    • Each residential unit is individually zoned for boiler heat
    • Tenants pay electric separately for their own units
    • Located on historic Main Street in downtown Ashland, with nearby access to the waterfront and Ashland Mural Walk
    • Seller indicates it may be purchased individually or as a package with 210 Main Street, Ashland, WI

    Overview

    This downtown mixed-use property totals six units, including one commercial storefront on the main level and five residential apartments above. The apartments are each configured as 1 bedroom and 1 bathroom. Utilities are managed by tenant responsibility for electric, and each residential unit is individually zoned for boiler heat, giving owners separate heating control per unit.

    The building is positioned along historic Main Street in Ashland. It is described as being close to the downtown shopping and dining district, the Lake Superior waterfront, and the Ashland Mural Walk, supporting a walk-to lifestyle for both storefront visitors and residential tenants.

    For buyers seeking a versatile income property, this setup combines street-level retail frontage with multiple residential apartments within the same ownership. The individualized boiler zoning and tenant-paid electric are practical operational features for managing expenses and maintaining unit comfort. The listing also notes the opportunity to purchase this property individually or as a package with 210 Main Street.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ashland
    County
    Ashland
    State
    Wisconsin
    Longitude
    -90.8873283
    Latitude
    46.5894125

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    FAQs

    What type of property is this?
    Apartment building - Six-unit mixed-use building with main-level storefront and five individually heated 1BR/1BA apartments.
    Where is this apartment building located?
    The property is located at 410 MAIN ST W Ashland, WI.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: 6‑unit mixed‑use building built in 2004 with one main‑level commercial storefront and five upper‑level residential units; Five residential units are 1 bed / 1 bath each; Each residential unit is individually zoned for boiler heat
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Aiden Bachand
    Real Estate License ID: 94170-94
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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