Brick Office
For Sale
$99,500
15 E Eau Claire Street, Rice Lake, WI 54868
CommercialSale, Rice Lake, WI
Property Size836 SF
Lot Size0.10 Acres
Price / SF$119.02
Days on Market929
Property Features for 15 E Eau Claire Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Rooms
Basement
Elementary school district
Rice Lake Area
Middle school district
Rice Lake Area
High school district
Rice Lake Area
Directions
From main St in Rice Lake, go east on Eau Claire St to property on the left. (Across from the post office)
Subdivision
33 - Rice Lake Schl/City
Standard status
Active
APN
276-1642-66-000
Size
836 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PLAT 9-2 E 1/2 LOT 9 BLK 6 LAKESIDE ADDITION (MOS #7205)
Tax Annual Amount
1934
Legal Description
PLAT 9-2 E 1/2 LOT 9 BLK 6 LAKESIDE ADDITION (MOS #7205)
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating)
Cooling system
Wall Unit(s)
Water source
Public
Amenities
full basement
full bathroom
Building Details
Year built
1975
Building materials
Brick
Listing Agency:
CB Brenizer/Rice Lake · Coldwell Banker Real Estate
(715) 234-5010
Listed By:
Ben Rivard · License #55555-90
(715) 205-1519
Added: Feb 28, 2024
Changed: Sep 11
Last Checked: Sep 14 at 8:06AM
MLS# 1579914
Copyright © 2026 REALTORS® Association of Northwestern Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 836-square-foot brick office building provides a compact commercial footprint with flexibility for office or retail occupancy. The property includes a full basement with storage and a bathroom, while baseboard and hot-water heating are complemented by wall-unit cooling. Public water and sewer serve the building.
Updates include a new roof and electrical service box completed in 2023. The building sits 1/2 block from Main St across from the post office, with off-street parking behind the property. Interior improvements may be customized at the seller’s request, and the space may also be leased.
Updates include a new roof and electrical service box completed in 2023. The building sits 1/2 block from Main St across from the post office, with off-street parking behind the property. Interior improvements may be customized at the seller’s request, and the space may also be leased.
Key Highlights
- 836‑square‑foot brick office building
- New roof and electrical service box completed in 2023
- Full basement with storage and bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$8,627
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$172,540
$172.5K
Cap Rate 7%
$123,243
$123.2K
Cap Rate 9%
$95,856
$95.9K
Market Conditions
NOI Build-Up for 836 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$14.7K $17.64/SF
− Vacancy
−$3.2K −$3.88/SF
EGI
$11.5K $13.76/SF
− OpEx
−$2.9K −$3.44/SF
NOI
$8.6K $10.32/SF
Area
Barron County, WI
Vacancy
22.00%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$172,540
Cap Rate 7%
$123,243
Cap Rate 9%
$95,856
Alternative Uses
Best Use
Office B
$123.2K
$107.8K – $143.8K
NOI $8,627 @ 7.0% cap · market cap 8.67%
Second Best
Retail
$48.2K
$42.1K – $56.2K
NOI $3,371 @ 7.0% cap · market cap 3.39%
Theoretical Best
Warehouse
$671.7K
$587.7K – $783.7K
NOI $47,019 @ 7.0% cap · market cap 47.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
537
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54868, WI
15,785
Population
7,640
Households
2.1
Avg Household Size
44
Median Age
25%
College-Educated
94%
High-School Grad
212.0 sq mi
ZIP Area
74
Density / Sq Mi
$64,567
Median Household Income
$40,474
Median Earnings
$850
Median Rent
$199,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office space - Flexible commercial layout with basement storage, rear parking, and potential for office or retail use.
Where is this office space located?
The property is located at 15 E Eau Claire Street Rice Lake, WI.
What is the asking price?
The asking price for this property is $99,500.
What are key features of this property?
This property features: 836‑square‑foot brick office building; New roof and electrical service box completed in 2023; Full basement with storage and bathroom
