Mixed-Use Property with
For Sale
$295,000
601 Belknap St, Superior, WI 54880
Office or retail space occupies the main level, with two apartments above and a detached garage on the property.
Property Size2,000 SF
Price / SF$147.50
Days on Market66
Property Features for 601 Belknap St
General Information
Standard status
Active
Size
2,000 SF
Taxes and HOA fees
Annual Taxes
$3,080
Amenities
detached garage
off-street parking
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
RE/MAX Results
(218) 428-7528
Listed By:
Megan Wilson · License #75787-94
(218) 428-7528
Source:
Exprealty
Added: Jun 15
Changed: Aug 14
Last Checked: Aug 19 at 10:27AM
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.
This mixed-use property combines commercial space with residential units in a two-level configuration. The main floor provides approximately 1,000 square feet that can accommodate office or retail use, while two apartments are positioned upstairs. A detached 24' x 24' garage and off-street parking add functional support for occupants, customers, and employees.
The property is located at 601 Belknap St in Superior, Wisconsin, along Belknap Street, where the site benefits from stated traffic exposure. The combination of commercial and residential areas supports owner-occupancy, business use, or continued apartment income, subject to applicable requirements.
The property is located at 601 Belknap St in Superior, Wisconsin, along Belknap Street, where the site benefits from stated traffic exposure. The combination of commercial and residential areas supports owner-occupancy, business use, or continued apartment income, subject to applicable requirements.
Key Highlights
- Approximately 1,000 SF of main‑level office or retail space
- Two upper‑level apartments provide additional income potential
- Detached 24' x 24' garage
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
$24,545
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
8.32%
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%
$490,900
$490.9K
Cap Rate 7%
$350,643
$350.6K
Cap Rate 9%
$272,722
$272.7K
Market Conditions
NOI Build-Up for 2,000 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
$36.0K $18.00/SF
− Vacancy
−$936 −$0.47/SF
EGI
$35.1K $17.53/SF
− OpEx
−$10.5K −$5.26/SF
NOI
$24.5K $12.27/SF
Area
Douglas County, WI
Vacancy
2.60%
Lease Rate
$18.00 /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%
$490,900
Cap Rate 7%
$350,643
Cap Rate 9%
$272,722
Alternative Uses
Best Use
Office B
$426.2K
$372.9K – $497.3K
NOI $29,835 @ 7.0% cap · market cap 10.11%
Second Best
Retail
$350.6K
$306.8K – $409.1K
NOI $24,545 @ 7.0% cap · market cap 8.32%
Theoretical Best
Specialty Retail
$630.6K
$551.8K – $735.7K
NOI $44,141 @ 7.0% cap · market cap 14.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
404
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Office or retail space occupies the main level, with two apartments above and a detached garage on the property.
Where is this mixed-use property located?
The property is located at 601 Belknap St Superior, WI.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Approximately 1,000 SF of main‑level office or retail space; Two upper‑level apartments provide additional income potential; Detached 24' x 24' garage
