815 Davis St Hammond, WI 54015

Property Details for 815 Davis St

Property size

6,000 SF

Property type

Retail space

Property subtype

Storefront properties

Description

This exceptional mixed-use property at 815 Davis St, Hammond, WI 54015 presents a compelling value-add opportunity. The 6,000 square foot building boasts a strong mix of commercial and residential tenants, currently generating a 9.67% cap rate and a net operating income (NOI) of $43,489. The property includes seven units: two one-bedroom apartments, one two-bedroom apartment, and four commercial spaces. All residential units have undergone complete renovations, featuring new flooring, kitchens, appliances, and updated bathrooms. Two of the commercial spaces have also been fully renovated, while two retain long-term tenants in their original condition. Significant recent capital improvements include a new roof (2023), rooftop furnace/AC (2022), and water heaters (2022). The building also features split sub-panels for the residential units. This property offers substantial upside potential through rent increases, the addition of coin-op laundry facilities, and the potential to separately meter utilities. Located just 30 minutes from downtown St. Paul, this property is ideally situated for both residential and commercial success. The permitted zoning is commercial, and the building is classified as a Class B property with a gross lease type. The asking price is $449,900, translating to a price per square foot of $74.98. This is a multi-tenant property with a strong existing income stream and significant potential for future growth.

Location Insight

City

Hammond

County

St. Croix

State

Wisconsin

Longitude

-92.436060492178

Latitude

44.977768163208