509 Main StOshkosh, WI 54901

Property Details for 509 Main St

Year built

1890

Lot size

2.79 AC

Property size (Sq ft)

15,927 SF

Zone code

C3

Property type

Residential income properties

Property subtype

Other 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.

• CAP approach

  CAP return

  Valuation

  6%

  $3,566,003

  6.5%

  $3,291,695

  7%

  $3,056,574

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,506,288

  Geo Method

  $3,215,462

• Alternative Use

  Use

  Valuation

  Residential

  $3,291,695

  Hospitality

  $3,015,175

  Educational

  $2,508,590

  Medical

  $2,594,864

  Retail

  $3,902,252

Location Insight

City

Oshkosh

County

Winnebago

State

Wisconsin

Latitude

44.02

Longitude

-88.5378

CBSA code

36780

CBSA name

OSHKOSH-NEENAH, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].