Building Details

Building Size 2,008 SF

Year Built 1954

Tenancy Multi

Listing Agency: Standard Real Estate Services, LLC

Listed By: Christopher M. Michala · License #91937740 Show Phone

Source: C21ace

Added: May 6 Changed: Oct 17 Last Checked: Oct 19 at 4:48PM

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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 Standard Real Estate Services, LLC

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Investment Insights

Based on property information with market context.

This fully leased mixed-use 4-unit investment property consists of three residential units and one commercial space. The offering is positioned for diversified rental income, supported by a stated rental history. Financial information, including the rent roll and lease documents, is available upon request.

The property is described as having high visibility and convenient access to local amenities, supporting consistent demand for both residential and commercial tenants.

As presented, the building is 100% leased and currently generates $3,768 per month, or $45,216 annually.

Key Highlights

• Four‑unit mixed‑use investment property (3 residential units and 1 commercial space)
• Fully leased with stated income of $3,768/month ($45,216 annually)
• Built in 1954

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$25,957

Cap Rate

7.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$519,140 $519.1K

Cap Rate 7%

$370,814 $370.8K

Cap Rate 9%

$288,411 $288.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,008 SF

Gross rent

$38.1K $18.96/SF

− Vacancy

−$990 −$0.49/SF

EGI

$37.1K $18.47/SF

− OpEx

−$11.1K −$5.54/SF

NOI

$26.0K $12.93/SF

Area

Outagamie County, WI

Vacancy

2.60%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$519,140

Cap Rate 7%

$370,814

Cap Rate 9%

$288,411

Alternative Uses

Best Use

Retail

$370.8K

$324.5K – $432.6K (±1% cap)

NOI $25,957 @ 7.0% cap · market cap 7.87%

Second Best

Multifamily LT 5

$218.6K

$191.3K – $255.1K (±1% cap)

NOI $15,303 @ 7.0% cap · market cap 4.64%

Theoretical Best

Office A

$553.6K

$484.4K – $645.9K (±1% cap)

NOI $38,754 @ 7.0% cap · market cap 11.75%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Triplexes

Suggested Use

Top Pick Dental Office Electrical Service Big Box & Wholesale Store Plumbing Service Storage Facility Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,502

Businesses Nearby

Explore this area Business Placement

Demographics for 54911, WI

26,964

Population

11,171

Households

2.4

Avg Household Size

37

Median Age

35%

College-Educated

94%

High-School Grad

8.4 sq mi

ZIP Area

3,210

Density / Sq Mi

$66,747

Median Household Income

$38,591

Median Earnings

$1,010

Median Rent

$199,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Fully leased four-unit property includes three residential units and one commercial space.

Where is this triplex located?

The property is located at 603 N RICHMOND Street Appleton, WI.

What is the asking price?

The asking price for this property is $329,900.

What are key features of this property?

This property features: Four‑unit mixed‑use investment property (3 residential units and 1 commercial space); Fully leased with stated income of $3,768/month ($45,216 annually); Built in 1954