Updated Three-Unit
For Sale
$299,900
910 CHERRY Street, Green Bay, WI 54301
Converted home offers flexible residential or office use with individually metered electric.
Property Size2,956 SF
Price / SF$101.45
Days on Market63
Property Features for 910 CHERRY Street
General Information
Standard status
Active
Size
2,956 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,545
Building Details
Building Size
2,956 SF
Year Built
1890
Buildings
1
Tenancy
Multi
Listing Agency:
Place Perfect Realty
Listed By:
Taylor R. Hansen · License #91-938804
(920) 639-2291
Source:
C21ace
Added: Jul 27
Changed: Sep 19
Last Checked: Sep 26 at 2:54PM
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 Place Perfect Realty
Investment Insights
Based on property information with market context.
This three-unit triplex occupies a double lot and was created through the conversion of a single-family residence. The layout includes two units on the upper level and one on the lower level, with the flexibility to continue as a multifamily property or function as a single-family home or office building. Interior character includes hardwood flooring and period detailing, while improvements include a new boiler, updated water heater, electrical work, roof updates, selected gutter work, and improved insulation. Each unit has separately metered electric service, and the units have been maintained for continued use.
The property is located at 910 Cherry Street in Green Bay, Wisconsin. Its residential configuration, adaptable layout, and existing building improvements provide a range of supported use options within the current structure.
The property is located at 910 Cherry Street in Green Bay, Wisconsin. Its residential configuration, adaptable layout, and existing building improvements provide a range of supported use options within the current structure.
Key Highlights
- Three‑unit triplex on a double lot
- Two upper‑level units and one lower‑level unit
- Converted single‑family residence with single‑family or office use potential
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
$25,811
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
8.61%
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%
$516,220
$516.2K
Cap Rate 7%
$368,729
$368.7K
Cap Rate 9%
$286,789
$286.8K
Market Conditions
NOI Build-Up for 2,956 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
$39.0K $13.20/SF
− Vacancy
−$2.1K −$0.73/SF
EGI
$36.9K $12.47/SF
− OpEx
−$11.1K −$3.74/SF
NOI
$25.8K $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%
$516,220
Cap Rate 7%
$368,729
Cap Rate 9%
$286,789
Alternative Uses
Best Use
Multifamily LT 5
$368.7K
$322.6K – $430.2K
NOI $25,811 @ 7.0% cap · market cap 8.61%
Second Best
Apartment 5plus
$343.5K
$300.6K – $400.7K
NOI $24,044 @ 7.0% cap · market cap 8.02%
Theoretical Best
Office A
$689.2K
$603.0K – $804.0K
NOI $48,242 @ 7.0% cap · market cap 16.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,206
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Triplex - Converted home offers flexible residential or office use with individually metered electric.
Where is this triplex located?
The property is located at 910 CHERRY Street Green Bay, WI.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Three‑unit triplex on a double lot; Two upper‑level units and one lower‑level unit; Converted single‑family residence with single‑family or office use potential
