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    509 Main St Oshkosh, WI 54901

    For Sale
    $1,899,900

    Historic building, 5 units, 7.5% cap rate.

    Property size:
    11,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    360
    This exceptional three-story, 11,000-square-foot multifamily building, located at 509 N Main St #501 in Oshkosh, Wisconsin, presents a compelling investment opportunity. Originally constructed in 1895 and extensively renovated in 2003, this property boasts a prime downtown location with 200 feet of street frontage and benefits from high daily traffic volume (10,000+ cars). The building features five apartments, all with updated appliances (2021), large open floor plans, mature hardwood floors, high ceilings, and abundant natural light. The first floor comprises approximately 5,500 square feet of commercial space, recently renovated in Q1 2023, currently leased to a PhD chiropractor under a three-year lease (commencing 4/1/23) with two 3-year extension options and a 2.5% annual rent increase. The lease includes monthly rent of $4,500 plus utilities. The building's attractive features include a charming interior stairwell, vintage tin ceilings, and vintage light fixtures. A public parking lot is conveniently located behind the building. The property sits on a 5,662 square foot lot and has a 7.5% cap rate with 100% occupancy for multiple years. Building systems include forced air, gas heat, and central air conditioning. The building is constructed of brick and stone with a rubber membrane roof. The asking price is $1,899,900, representing a price per square foot of $172.73. The property is zoned for commercial use and has an APN of 0700260000.

    Property Features for 509 Main St

    General Information

    Property type
    Multifamily properties
    Square Feet
    11,000 SF

    Building Details

    Year Built/Renovated
    1895/2003
    Stories
    3
    Units
    5

    HighLights

    • Three‑story building, 11,000 square feet.
    • Public parking lot behind building.
    • Rubber membrane roof.
    • Brick/stone construction.
    • Forced air, gas heat, central A/C.
    • High traffic location (10,000+ cars daily).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oshkosh
    County
    Winnebago
    State
    Wisconsin
    Longitude
    -88.537794
    Latitude
    44.019988

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    FAQs

    What type of property is this?
    Multifamily property - Historic building, 5 units, 7.5% cap rate.
    Where is this multifamily property located?
    The property is located at 509 Main St Oshkosh, WI.
    What is the asking price?
    The asking price for this property is $1,899,900.
    What are key features of this property?
    This property features: Three-story building, 11,000 square feet.; Public parking lot behind building.; Rubber membrane roof.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    509 Main St Oshkosh, WI 54901
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