Waterfront Multifamily
New
For Sale
$2,100,000
W7153 County Road Z -, Onalaska, WI 54650
Three buildings offer two-bedroom residences with private garages and shared tenant docks.
Property Size17,280 SF
Price / SF$121.53
Days on Market7
Property Features for W7153 County Road Z -
General Information
Standard status
Active
Size
17,280 SF
Property Condition
Severity
Repairs Needed
Evidence
currently being remodeled
Units
Unit Mix
12 x 2BR/2BA
Multifamily Units
12
Parking per Unit
1
Amenities
waterfront
range/oven
refrigerator
dishwasher
laundry hookups
Wall Sleeve AC
shared docks
Building Details
Year Built
1980
Buildings
3
Listing Agency:
Gerrard-Hoeschler, REALTORS
(608) 792-8451
Listed By:
Brian McCarty · License #80000-94
Source:
Nikolicgroup
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 29 at 10:35PM
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 Gerrard-Hoeschler, REALTORS
Investment Insights
Based on property information with market context.
This waterfront multifamily property on Lake Onalaska includes three buildings, each containing four two-bedroom, two-bath residences. Every unit measures 1,440 square feet and includes a range/oven, refrigerator, dishwasher, laundry hookups, and wall sleeve AC. Individual garages accompany all units, providing dedicated parking and storage for residents.
Two shared docks extend the property’s waterfront amenities for tenants. The buildings were constructed in 1980, and the included property addresses are W7153 County Road Z, W7167, and W7191 in Onalaska, Wisconsin. Two units are currently being remodeled, while two additional units are under construction.
Two shared docks extend the property’s waterfront amenities for tenants. The buildings were constructed in 1980, and the included property addresses are W7153 County Road Z, W7167, and W7191 in Onalaska, Wisconsin. Two units are currently being remodeled, while two additional units are under construction.
Key Highlights
- Waterfront multifamily property on Lake Onalaska
- 3 buildings with four 2‑bedroom, 2‑bath units each
- Each unit contains 1,440 square feet
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
$140,439
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
6.69%
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%
$2,808,780
$2.8M
Cap Rate 7%
$2,006,271
$2.0M
Cap Rate 9%
$1,560,433
$1.6M
Market Conditions
NOI Build-Up for 17,280 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
$271.6K $15.72/SF
− Vacancy
−$16.3K −$0.94/SF
EGI
$255.3K $14.78/SF
− OpEx
−$114.9K −$6.65/SF
NOI
$140.4K $8.13/SF
Area
La Crosse County, WI
Vacancy
6.00%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
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%
$2,808,780
Cap Rate 7%
$2,006,271
Cap Rate 9%
$1,560,433
Alternative Uses
Best Use
Apartment 5plus
$2.01M
$1.76M – $2.34M
NOI $140,439 @ 7.0% cap · market cap 6.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.78M
$3.31M – $4.41M
NOI $264,540 @ 7.0% cap · market cap 12.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
Explore this area
Business Placement
Demographics for 54650, WI
24,523
Population
11,166
Households
2.2
Avg Household Size
41
Median Age
40%
College-Educated
98%
High-School Grad
30.9 sq mi
ZIP Area
794
Density / Sq Mi
$85,255
Median Household Income
$48,366
Median Earnings
$1,109
Median Rent
$279,100
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?
Multifamily property - Three buildings offer two-bedroom residences with private garages and shared tenant docks.
Where is this multifamily property located?
The property is located at W7153 County Road Z - Onalaska, 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: Waterfront multifamily property on Lake Onalaska; 3 buildings with four 2‑bedroom, 2‑bath units each; Each unit contains 1,440 square feet
