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Tower Plaza Commercial Complex in Downtown Superior (Superior)

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Tower Plaza Complex Downtown Superior, WI : 10117-27 Tower Ave

The Tower Plaza Complex consists of 5 long term business on the 1st floor, and the Tower Plaza Business Center on the 2nd floor . As well , in the rear, there is a large parking lot , fenced , approx. 140 x 220

Commercial combined rents presently equal $ 10,455.00 per month or = $ 125,460 annualized .

The Tower Plaza Business Center has 2 tenants under lease, and other interested parties .
When that fills up , it could add another 24,000-36,000 of annualized rent to the complex = $ 36,000 ? additional ?
Commercial Tenants are :
1) Superior Flooring : in the complex since 1988 and under a 5 year lease
2) Mikes Bar : in the complex for over 10 years and under a lease
3) Superior Laundromat : In the complex since 1990 - 33 years and under a 7 year lease .
4) Shake Shop - Herbalife in the complex for 5 years and signing a 2 year extension
5) Tailor Shop ..spot just remodeled in the complex for 25 years
6) Construction company 1 year lease

The present commercial renters are on long term leases with 5% escalation clauses per year .
The 5 residential renters also have escalation clauses for at least 5 % per year going forward .

Amenities and additions to the complex :

Main Complex all updated heating units and air conditioning splits , or central air within the past 5 years , and many within the last 3 years.
New Rubber Roof in 2012 and annual maintenance . ( last year went through every sq. ft. for 6 weeks and did all required roof repairs and invested almost $ 15,000 upgrading and repairing the rubber roof .
Annual maintenance and extra asphalt for the rear parking lot .
2022 : Store Front remodel, new paint and patching , all new signage .
2023 : New paint and repairs coming to the rear of the commercial complex


Expenses :
Taxes.................$ 11,900
Utilities .............$ 30,100
Insurance ...........$ 7,000
Upkeep budget $ 8,100 ( 5% of annual revenue )
Total Expenses $ 57,100

Rental Revenue $ 125,460
Less Expense - $ 57,100
NET Revenue .. $ 68,360 to fund " debt service "

Asking price : $ 800,000

7% Bank financing mortgage 20 year amortization with 25% down and $ 600,000 mortgage : payment $ 4,652

= $ 55,824 annualized :
Net Revenue , ( from above ) : $ 68,360
Less Annualized Debt Service -$55,824

Return .....................................$ 12,536 ( positive annual cash flow )


1) The 2 present owners are " absentee in the cold months, and a more hands on owner could control utility costs more effectively .
2) Both owners are in their 60's and after ownership since 1988 , ( 35 years ) , want to sell the complex .
3 ) The Tower Plaza Business Center on the 2nd floor, when filled will provide $ 36,000 ? additional revenue per year .

Interested parties , should provide a " Bank Letter " indicating that you are qualified to obtain a loan of this size ,
and provide a copy of this ahead of any potential showing .

Tower Plaza Building : Self Appraisal:

Rents as sent .........$ 10,455 x 12 ( annualized ) $ 125,460

x 7 multiple = $ 878,220

x 7.5 multiple $ 940, 951

The Present owners, to a " very qualified buyer " could agree to carry $ 100,000 behind the bank, which would
lower your down payment requirement.

please email with questions

post id: 7747968903

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