509 Main St Oshkosh, WI 54901

Property Details for 509 Main St

Year built

1890

Lot size

2.79 lot acres

Property size

15,927 SF

Zone code

C3

Property type

Apartment buildings

APN

07-00260000

APU

700260000

Description

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.

Location Insight

City

Oshkosh

County

Winnebago

State

Wisconsin

Longitude

-88.5378

Latitude

44.02

CBSA code

36780

CBSA name

OSHKOSH-NEENAH, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments