Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1402 Kentuck Lake Landing Phelps, WI 54554

    View on Map
    For Sale
    $319,000

    Vacant Land - Phelps T-WI, WI

    Lot size:
    5.39 Acres
    Added:
    Jan 13, 2026
    Days on Market:
    85
    Last Refresh:
    Apr 8 at 12:06 am

    Property Features for 1402 Kentuck Lake Landing

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    APN
    18.1781.02
    Lot size
    5.39 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    826.12

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    NICOLE HEBERT
    NICOLE HEBERT

    Listing agent NICOLE HEBERT

    Listing office KELLER WILLIAMS CLASSIC REALTY NW 107 N Fourth Avenue, Iron River, WI

    Listing date Jan 13, 2026

    MLS# 50197466 Listing URL

    Copyright © 2026 Upper Peninsula Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Recreational Land with Storage Building

    Located on Kentuck Lake Landing Rd in the Northwoods, this 5.39-acre parcel is suitable for building and offers recreational opportunities. A 64x40 pole building is situated on the property, featuring a 12x12 overhead door, concrete floor, and electric. This building is suitable for storing boats, campers, ATVs, snowmobiles, and equipment, or for use as a workshop. The land is buildable, making it suitable for constructing a home or seasonal retreat. The property is located minutes from Kentuck Lake and other lakes and rivers. Eagle River is 15 minutes away, providing access to dining, shopping, and amenities. The location provides access to snowmobile, ATV, and UTV trails, making it suitable as a year-round basecamp.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Phelps
    County
    Vilas
    State
    Wisconsin
    Longitude
    -89.0223179
    Latitude
    45.9830385

    Nearby Similar for Sale

    • $475,000

      Phelps Commercial Property with Lake Views

      10,500 sq ft commercial property with high potential and visibility.
      2275 HWY 17, Phelps, WI 54554
      View Details
    • $999,999

      Boat Storage Business with Expansion Potential

      Boat storage business with expansion potential in Phelps, Wisconsin.
      2198 HWY 17, Phelps, WI 54554
      View Details
    • $49,000

      Phelps, WI Wooded Land

      5 acres of wooded land near Northwoods lakes and trails.
      5 AC ON BLACK BEAR LN, Phelps, WI 54554
      View Details
    • $720,000
      2,860 SF

      Restaurant and Residence Live-Work Opportunity

      Established restaurant with attached residence in a resort setting.
      5751 Hillside Resort Trl, Phelps, WI 54554
      View Details
    • $249,000

      Long Lake Waterfront Land Parcel

      3.7-acre land parcel with 300 feet of Long Lake frontage.
      Off FERNWOOD DR unit: 3.71 Ac, Phelps, WI 54554
      View Details
    • $135,900

      Phelps, WI Wooded Land

      19+ acre wooded lot with waterfront access in Phelps, WI.
      ON BEAR TAIL PT, Phelps, WI 54554
      View Details

    FAQs

    What type of property is this?
    Recreation land - 5.39-acre buildable parcel with a 64x40 pole building.
    Where is this recreation land located?
    The property is located at 1402 Kentuck Lake Landing Phelps, WI.
    What is the asking price?
    The asking price for this property is $319,000.
    What are key features of this property?
    This property features: Large 64x40 pole building with concrete floor, 12x12 overhead door, and electric, ideal for storage or workshop.; Buildable 5.39‑acre parcel suitable for a dream home or seasonal retreat.; Located minutes from Kentuck Lake and surrounded by numerous other lakes and rivers.
    (906) 284-0216
    We can help!
    Listing Contact
    NICOLE HEBERT
    NICOLE HEBERT
    Real Estate License ID: UPAR
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!