1811 Michigan St - Multi-Family FOR SALE


Sturgeon Bay, WI 54235
$1,750,000 USD
262-366-2526
1811 Michigan St, Sturgeon Bay, WI for Sale
$1,750,000 USD
Multi-Family - FOR SALE
1/7
null | 7.38% Cap Rate

1811 Michigan St
Sturgeon Bay, WI 54235


HIGHLIGHTS

  • Prime location in Sturgeon Bay with recent upgrades: new roofs, gutters, hallways, doors, and 8 renovated units.
  • Strong rental market with potential for higher income through corporate or shorter-term rentals.
  • Buildings are on the southeast corner of Michigan Street and S 18th Avenue.

OVERVIEW

Two eight-family apartment buildings located at 1811 Michigan Ave and 122 South 18th Street in Sturgeon Bay, Wisconsin. These properties are situated on a large lot in a prime location. Over the past two years, numerous upgrades have been made, including new roofs, gutters, hallways, doors, and renovations to 8 of the 16 units. The rental market in Door County is extremely strong, particularly at this price point. There is potential for increased rental income through corporate rentals or shorter-term leases, as all current leases are for one year. Each unit is 900 square feet and features two bedrooms and one bathroom. The properties are located at the corner of Michigan Ave and South 18th Ave.

FOR SALE DETAILS

PRICE

$1,750,000 USD

PRICE/SF

$109 USD /SF

# OF UNITS

12

PRICE/UNIT

$145,833

CAP RATE

7.38%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1990

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,187 SF

ZONING

-

APN/PARCEL ID

281-6242000109

ASK ABOUT THIS PROPERTY

John DykeEncore Real Estate BrokerageMore Info
262-366-2526

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

John DykeEncore Real Estate BrokerageMore Info
262-366-2526

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.