Well-Maintained Ranch
For Sale
$249,900
933 Shea Avenue, Green Bay, WI 54303
Ranch duplex with two 2-bedroom, 1-bath units, each with separate utilities and leased on both sides.
Property Size1,536 SF
Price / SF$162.70
Days on Market188
Property Features for 933 Shea Avenue
General Information
Standard status
Active
Size
1,536 SF
Total Parking Spaces
4
Property subtype
Multifamily / Duplex (2 Unit)
Zoning
Residential
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,172
Amenities
storage shed
Forced Air
2
Natural Gas
Full
Poured Concrete
1 Story,2 side by side
Pressboard,Vinyl Siding
1st Floor Bedroom,1st Floor Full Bath,Door Open. 29 In. Or More,Hall Width 36 Inches or More,Level Lot
Building Details
Year Built
1976
Buildings
1
Construction
ranch
Tenancy
Multi
Listing Agency:
GoJimmer Real Estate
(920) 660-1846
Listed By:
Jimmer Greguske · License #90-56727
(920) 660-1846
Source:
Compass
Added: Feb 4
Changed: Aug 8
Last Checked: Jul 22 at 6:58AM
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 GoJimmer Real Estate
Investment Insights
Based on property information with market context.
Well-maintained ranch duplex featuring two 2-bedroom, 1-bath units, one on each side. Each side has separate gas, water, electric, and cable service, supported by 100-amp service and an updated HVAC system. The property includes a poured concrete basement with PVC drains.
Outside, the left and right sides each have two parking spaces. A divided storage shed provides room for snow and lawn equipment.
The roof, gutters, downspouts, soffits, and fascia have been updated. Both sides are currently leased through July/December, offering an income-producing residential configuration. Easy access to Hwy 43 supports convenient travel and day-to-day access.
Outside, the left and right sides each have two parking spaces. A divided storage shed provides room for snow and lawn equipment.
The roof, gutters, downspouts, soffits, and fascia have been updated. Both sides are currently leased through July/December, offering an income-producing residential configuration. Easy access to Hwy 43 supports convenient travel and day-to-day access.
Key Highlights
- Well‑maintained 1976 ranch duplex with two 2‑bedroom, 1‑bath units (2 beds/1 bath on each side).
- Separate gas, water, electric, and cable for each side for independent utility billing.
- Updated HVAC with forced‑air natural gas heating and two furnaces.
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
$13,412
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
5.37%
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%
$268,240
$268.2K
Cap Rate 7%
$191,600
$191.6K
Cap Rate 9%
$149,022
$149.0K
Market Conditions
NOI Build-Up for 1,536 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
$20.3K $13.20/SF
− Vacancy
−$1.1K −$0.73/SF
EGI
$19.2K $12.47/SF
− OpEx
−$5.7K −$3.74/SF
NOI
$13.4K $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%
$268,240
Cap Rate 7%
$191,600
Cap Rate 9%
$149,022
Alternative Uses
Best Use
Multifamily LT 5
$191.6K
$167.7K – $223.5K
NOI $13,412 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$178.5K
$156.2K – $208.2K
NOI $12,494 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$358.1K
$313.4K – $417.8K
NOI $25,068 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Explore this area
Business Placement
Demographics for 54303, WI
27,478
Population
13,088
Households
2.1
Avg Household Size
36
Median Age
18%
College-Educated
91%
High-School Grad
11.5 sq mi
ZIP Area
2,389
Density / Sq Mi
$58,110
Median Household Income
$38,983
Median Earnings
$859
Median Rent
$160,100
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 - Ranch duplex with two 2-bedroom, 1-bath units, each with separate utilities and leased on both sides.
Where is this duplex located?
The property is located at 933 Shea Avenue Green Bay, WI.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Well‑maintained 1976 ranch duplex with two 2‑bedroom, 1‑bath units (2 beds/1 bath on each side).; Separate gas, water, electric, and cable for each side for independent utility billing.; Updated HVAC with forced‑air natural gas heating and two furnaces.
