900 Sunnyview LnPrinceton, WI 54968

Property Details for 900 Sunnyview Ln

Lot size

4.94 AC

Property type

Commercial real estate

APN

271-00617-0100

APU

271006170100

Description

This exceptional investment opportunity presents a substantial 28,998 square foot commercial building undergoing conversion into a multi-unit apartment complex. Situated on a generous 4.94-acre lot in Princeton, WI, at 900 Sunnyview Lane, this property offers significant potential. The east wing is nearing completion, boasting six two-bedroom units and one one-bedroom unit. Electrical and plumbing rough-ins are complete, a modern sprinkler system is installed, and walls are studded. Detailed blueprints, approved by the state, outline the planned renovations for the west wing, which previously served as storage rentals. These plans also encompass a dedicated manager's apartment. The building's substantial 4,247 square feet of common area is earmarked for a welcoming lobby, administrative offices, additional restrooms, ample storage space, and comfortable guest quarters. This property presents a unique chance to capitalize on the growing demand for rental housing in a desirable location. The existing progress significantly reduces the time and cost associated with a ground-up development. The combination of existing units and the potential for additional units makes this a compelling investment opportunity. The property is priced at $249,000.

• CAP approach

  CAP return

  Valuation

  6%

  $44,035,000

  6.5%

  $40,647,700

  7%

  $37,744,300

• Comparable approach

  Method

  Valuation

  Relative Method

  $21,846,400

  Geo Method

  $28,028,000

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $82,582,100

  Retail / Commercial

  $41,847,300

  Mixed-Use / Specialty

  $41,303,800

  Hospitality / Lodging

  $29,789,900

  Office

  $40,647,700

  Institutional / Educational

  $42,798,300

  Residential Income

  $50,074,000

  Multifamily

  $62,242,200

  Automotive / Energy

  $36,684,300

  Parking / Income-Based Land

  $13,048,900

  Restaurant / Food Service

  $20,640,800

  Healthcare / Senior Housing

  $42,760,600

Location Insight

City

Princeton

County

Green Lake

State

Wisconsin

Latitude

43.8568

Longitude

-89.1369

Property Tax & Assessments

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