For Sale
$550,000

570 10Th AveBaldwin, WI 54002

High-yield, fully renovated multifamily building.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional mixed-use investment property in Baldwin, Wisconsin, presents a compelling opportunity. Located at 570 10th Ave, this two-story, 5,000 square foot building boasts a strong 9.03% cap rate and 100% occupancy. The property features four units: three fully renovated residential units (one one-bedroom and two two-bedroom apartments) and one commercial unit currently occupied by Snap Fitness. All residential units received complete renovations in 2023, including new flooring, kitchens, appliances, wall A/C units, and updated bathrooms. The Snap Fitness space was renovated in 2016 and received a new A/C unit recently. A new steel roof was installed in 2024. The property sits on a 0.379-acre lot and includes a rear parking lot currently rented out (separate PID), adding to the overall income stream. Tenants are responsible for gas and electric, while the owner covers water, sewer, trash, and snow removal. Ample off-street parking is available. This turn-key investment offers a stable income stream with a strong tenant base and significant recent upgrades. The building is zoned commercial and was constructed in 1930. The asking price is $550,000, translating to $110 per square foot. The property's Net Operating Income (NOI) is $49,685. This is a stabilized investment with five total tenants.

Highlights

  • Exceptional mixed-use investment property in Baldwin, WI, with a 9.03% cap rate and 100% occupancy.
  • 5,000 sq ft, two-story building at 570 10th Ave, featuring three renovated residential units (one 1-bed, two 2-bed) and one commercial unit (Snap Fitness).
  • All residential units fully renovated in 2023, Snap Fitness space renovated in 2016, new steel roof in 2024.
  • 0.379-acre lot with separate, income-producing parking lot.
  • $550,000 asking price ($110/sq ft), $49,685 NOI.

Property Details for 570 10Th Ave

Property type
Retail properties, Office properties
Square Feet
5,000 SF
Class
B
Year Built/Renovated
1930/2023
Stories
2
Lot Size (sq. ft)
16,509 SF
Units
4

Location Insight

City
Baldwin
County
St. Croix
State
Wisconsin
Latitude
44.972522396668
Longitude
-92.375006160513
570 10Th Ave, Baldwin, Wisconsin

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570 10Th Ave
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