MLS Public Remarks Invest in a piece of history with this charming brick 10-plex apartment building, formerly known as The Park Motel. Tons of work into this building Recent upgrades include freshly paved lot, new decking and stairs, and installation of an 800 amp electrical service. The property boasts a stellar occupancy record with long term renters. The owner covers water and sewer expenses, while tenants are responsible for their own electric and gas bills. Seven units occupied units feature 2 updated laundry areas for added convenience. The sale includes all refrigerators, ranges, and on-site maintenance materials. Embrace the historical significance and modern amenities offered by this unique property. 2 Parcels Classified as G2 - COMMERCIAL
Location City
Other Marketing Area
Mailing City New Lisbon
C/T/V City
Unit #
Directions 115 W. Pearl Street. 1 Block Off 12/16
Real estate for sale Yes
Business for sale No
For lease only No
Ann. Rent/SqFt $91,056
Total Units/Bldg 10
Building Gross SqFt 999
Net Leasable SqFt 999
Year Built 1876
Source for Year Built Othr
Approx Bldg Dimen 999
Street Frontage 350
Parking Fees/Mo. $0
Onsite Parking Yes
# of Stories 2
Ceiling Height Min 8
Ceiling Height Max 10
Number of Loading Docks 0
Zoning G3
Est. Total Acres 0.64
Source Of Est Acres PubR
Lot Dimensions
Owner
Tradename
Land Assessment $22,200
Assessment Year 2023
Net Taxes $2,359
Tax Year 2022
Improvements $256,900
Total Assessment $279,100
Income/Expenses Year $3,337
Gross Operating Income $91,056
Annual Operating Exp $10,381
Net Operating Income $80,675
Unit |
Lease Type |
Lease Exp. Date |
Renewal Option |
Base Annual Rent |
Annual Rent/SqFt |
Other Fees/SqFt |
Gross SqFt |
1 |
m |
30 |
0 |
$711 |
$91,056 |
$0 |
1 |
2 |
- |
0 |
0 |
$0 |
$0 |
$0 |
0 |
3 |
- |
0 |
0 |
$0 |
$0 |
$0 |
0 |
Items Included
Items Excluded
Heating/Cooling Central air, Forced air
Water/Waste Municipal sewer, Municipal water
Basement Full
Fuel Natural gas
Seating Capacity
Type Apartment building
Exterior Treatment Brick
Building Parking 6-10 spaces, Paved
Roofing Metal
Terms/Option Seller may assist
Miscellaneous
Documents on File Fixtures & equipment, Lease(s), Property Condition Report
Location Business district, Corner, Free standing, Residential area
Tenant Pays Air Conditioning, Electric, Heat
Present Use Apartment building
Licenses
Lease Type Annual, Month to month, Renewal options
Occupied by Tenant(s)
Sale Includes Equipment, Lease(s), Other
Features
Above Information Deemed Reliable, But Not Guaranteed
Listing Courtesy of @properties Christies International Real Estate