Six-Unit Multifamily Income
For Sale
$1,825,000
546 Sunrise Drive, Spring Green, WI 53588
Six-unit multifamily property with four leased units and one unit used as a short-term rental.
Property Size7,016 SF
Price / SF$260.12
Days on Market175
Property Features for 546 Sunrise Drive
General Information
Standard status
Active
Size
7,016 SF
Property subtype
Multi Family / Townhouse style units
Zoning
R3
Additional Details
Multifamily Units
6
Amenities
Natural Gas
Forced air
Tenants Personal Items, Air BNB Furniture in Unit 6 unless a bill of sale is agreed upon.
Refrigerator, Stove, Microwave, Dishwasher X 6
6
Vinyl
Building Details
Year Built
2024
Units
6
Tenancy
Multi
Listing Agency:
Century 21 Affiliated
Listed By:
Andrea Joo · License #58372-90
(608) 574-2092
Source:
Compass
Added: Mar 15
Changed: Sep 2
Last Checked: Sep 4 at 5:27PM
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 Century 21 Affiliated
Investment Insights
Based on property information with market context.
This income-producing six-unit multifamily property features a current leased setup with four units occupied and one unit operating as a short-term rental. The arrangement is described as having the absence of common areas, which can help keep operations streamlined.
The property is located at 546 Sunrise Drive in Spring Green, WI. The offering also notes an ability to construct a second mirrored six-unit building on the lot, creating a potential path to scale the asset. Financials, including the rent roll and operating history, are available for underwriting.
The property is located at 546 Sunrise Drive in Spring Green, WI. The offering also notes an ability to construct a second mirrored six-unit building on the lot, creating a potential path to scale the asset. Financials, including the rent roll and operating history, are available for underwriting.
Key Highlights
- 6‑unit multifamily property built in 2024
- Current occupancy includes four leased units plus one unit used as a short‑term rental
- No common areas, helping minimize expense exposure and simplify operations
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
$58,067
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
3.18%
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%
$1,161,340
$1.2M
Cap Rate 7%
$829,529
$829.5K
Cap Rate 9%
$645,189
$645.2K
Market Conditions
NOI Build-Up for 7,016 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
$111.1K $15.84/SF
− Vacancy
−$5.6K −$0.79/SF
EGI
$105.6K $15.05/SF
− OpEx
−$47.5K −$6.77/SF
NOI
$58.1K $8.28/SF
Area
Sauk County, WI
Vacancy
5.00%
Lease Rate
$15.84 /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%
$1,161,340
Cap Rate 7%
$829,529
Cap Rate 9%
$645,189
Alternative Uses
Best Use
Apartment 5plus
$829.5K
$725.8K – $967.8K
NOI $58,067 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,414 @ 7.0% cap · market cap 5.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
Explore this area
Business Placement
Demographics for 53588, WI
4,139
Population
1,944
Households
2.1
Avg Household Size
50
Median Age
32%
College-Educated
95%
High-School Grad
139.9 sq mi
ZIP Area
30
Density / Sq Mi
$88,359
Median Household Income
$47,407
Median Earnings
$956
Median Rent
$273,600
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 - Six-unit multifamily property with four leased units and one unit used as a short-term rental.
Where is this apartment building located?
The property is located at 546 Sunrise Drive Spring Green, WI.
What is the asking price?
The asking price for this property is $1,825,000.
What are key features of this property?
This property features: 6‑unit multifamily property built in 2024; Current occupancy includes four leased units plus one unit used as a short‑term rental; No common areas, helping minimize expense exposure and simplify operations
