Side-by-Side Duplex with
For Sale
$715,000
735 Hoffman Road, Green Bay, WI 54301
Leased two-story duplex with attached garages, flexible den or office space, upstairs laundry, and included appliances.
Property Size3,552 SF
Price / SF$201.30
Days on Market136
Property Features for 735 Hoffman Road
General Information
Standard status
Active
Size
3,552 SF
Total Parking Spaces
4
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
2 Family/Duplex,Resident
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$7,757
Amenities
upstairs laundry
Forced Air
2
Natural Gas
Poured Concrete
2 side by side,2 Story
Vinyl Siding
Not Applicable
Building Details
Year Built
2024
Buildings
1
Tenancy
Multi
Listing Agency:
Shorewest, Realtors
(920) 593-4119
Listed By:
Tina R Hoffman · License #94-62922
(920) 593-4119
Source:
Compass
Added: Apr 19
Changed: Aug 30
Last Checked: Aug 30 at 5:36AM
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 Shorewest, Realtors
Investment Insights
Based on property information with market context.
This side-by-side duplex was built in 2024 and includes two separate two-story units. Each residence offers three bedrooms, two-and-one-half baths, an open layout, a second-floor den or office, and laundry near the bedrooms. Every unit also includes a two-stall attached garage, and appliances are included. Forced-air heating, natural gas service, poured-concrete construction, and vinyl siding are among the property features.
Leases are already in place, with tenants responsible for utilities, lawn care, and snow removal. The property is located near the De Pere School District at 735 Hoffman Road in Green Bay, Wisconsin. Zoning is designated for two-family or duplex residential use.
Leases are already in place, with tenants responsible for utilities, lawn care, and snow removal. The property is located near the De Pere School District at 735 Hoffman Road in Green Bay, Wisconsin. Zoning is designated for two-family or duplex residential use.
Key Highlights
- Built in 2024 with 2 side‑by‑side, 2‑story units
- Each unit has 3 bedrooms and 2.5 baths
- Each residence includes a 2‑stall attached 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
$31,015
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
4.34%
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%
$620,300
$620.3K
Cap Rate 7%
$443,071
$443.1K
Cap Rate 9%
$344,611
$344.6K
Market Conditions
NOI Build-Up for 3,552 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
$46.9K $13.20/SF
− Vacancy
−$2.6K −$0.73/SF
EGI
$44.3K $12.47/SF
− OpEx
−$13.3K −$3.74/SF
NOI
$31.0K $8.73/SF
Area
Green Bay, WI
Vacancy
5.50%
Lease Rate
$13.20 /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%
$620,300
Cap Rate 7%
$443,071
Cap Rate 9%
$344,611
Alternative Uses
Best Use
Multifamily LT 5
$443.1K
$387.7K – $516.9K
NOI $31,015 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$412.7K
$361.1K – $481.5K
NOI $28,891 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$828.1K
$724.6K – $966.2K
NOI $57,969 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
114
Businesses Nearby
Explore this area
Business Placement
Demographics for 54301, WI
22,875
Population
10,532
Households
2.2
Avg Household Size
39
Median Age
38%
College-Educated
94%
High-School Grad
6.5 sq mi
ZIP Area
3,519
Density / Sq Mi
$76,768
Median Household Income
$45,717
Median Earnings
$929
Median Rent
$205,900
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?
Duplex - Leased two-story duplex with attached garages, flexible den or office space, upstairs laundry, and included appliances.
Where is this duplex located?
The property is located at 735 Hoffman Road Green Bay, WI.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: Built in 2024 with 2 side‑by‑side, 2‑story units; Each unit has 3 bedrooms and 2.5 baths; Each residence includes a 2‑stall attached garage
