12-Unit Townhome-Style Apartment
New
For Sale
$2,100,000
614 S Erie St, De Pere, WI 54115
Residents have in-unit laundry, air conditioning, and access to garage parking.
Property Size12,600 SF
Days on Market3
Property Features for 614 S Erie St
General Information
Standard status
Active
Size
12,600 SF
Property subtype
Multifamily
Occupancy
97%
Property Condition
Severity
Repairs Needed
Evidence
limited deferred maintenance
Additional Details
Cap Rate
6.69%
Multifamily Units
12
Amenities
in-unit laundry
air conditioning
garage parking
Townhome Style Units
New Roofs
In-Unit Laundry
Building Details
Building Size
12,600 SF
Year Built
1968
Units
12
Listed By:
Dan Bowar · License #License(s): WI: 97683-94
(262) 364-1907
Source:
Marcusmillichap
Added: Oct 4
Last Checked: Oct 5 at 3:00PM
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 Dan Bowar
Investment Insights
Based on property information with market context.
This 12-unit apartment property in De Pere, Wisconsin, was built in 1968 and is configured in a townhome style. Interior improvements have been completed, and the roofs have been replaced. Each unit has its own laundry and air conditioning; garage parking is also available to residents. Heat is included in rent.
Key Highlights
- 12‑unit townhome‑style apartment property
- Built in 1968
- In‑unit laundry and air conditioning in every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$110,283
Cap Rate
5.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,205,660
$2.2M
Cap Rate 7%
$1,575,471
$1.6M
Cap Rate 9%
$1,225,367
$1.2M
Market Conditions
NOI Build-Up for 12,600 SF
Gross rent
$207.1K $16.44/SF
− Vacancy
−$6.6K −$0.53/SF
EGI
$200.5K $15.91/SF
− OpEx
−$90.2K −$7.16/SF
NOI
$110.3K $8.75/SF
Area
Brown County, WI
Vacancy
3.20%
Lease Rate
$16.44 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,205,660
Cap Rate 7%
$1,575,471
Cap Rate 9%
$1,225,367
Alternative Uses
Best Use
Apartment 5plus
$1.58M
$1.38M – $1.84M
NOI $110,283 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$10.54M
$9.22M – $12.29M
NOI $737,526 @ 7.0% cap · market cap 35.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
Explore this area
Business Placement
Demographics for 54115, WI
48,710
Population
20,415
Households
2.4
Avg Household Size
37
Median Age
40%
College-Educated
96%
High-School Grad
124.0 sq mi
ZIP Area
393
Density / Sq Mi
$92,023
Median Household Income
$46,843
Median Earnings
$1,071
Median Rent
$307,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Residents have in-unit laundry, air conditioning, and access to garage parking.
Where is this apartment building located?
The property is located at 614 S Erie St De Pere, WI.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 12‑unit townhome‑style apartment property; Built in 1968; In‑unit laundry and air conditioning in every unit
