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    Woodruff Commercial Property on Hwy 51 Title is generated by Realmo AI

    1571 HWY 51, Woodruff, WI 54568

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    Claim this Listing
    For Sale
    $1,700,000

    COMMERCIAL - Woodruff, WI

    Property size:
    10,580 SF
    Lot size:
    1.14 Acres
    Price / SF:
    $160/SF
    Added:
    Apr 17, 2026
    Days on Market:
    51
    Last Refresh:
    Jun 6 at 5:06 am

    Property Features for 1571 HWY 51

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    6
    Rooms
    Bathroom 4, Bathroom 3, Bathroom 5, Bathroom 1, Bathroom 6, Bathroom 2
    Parking features
    Garage, Driveway
    Interior features
    Storage
    Standard status
    Active
    APN
    2-982-07
    Size
    10,580 SF
    Lot size
    1.14 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    PRT GOVT LOT 1
    Tax Annual Amount
    6457

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Electric (Heating), Natural Gas
    Cooling system
    Central Air
    Water source
    Well

    Building Details

    Year built
    2004
    Floors in Building
    1
    Number of units
    4
    Flooring type
    Vinyl, Concrete, Carpet
    Building materials
    Cedar, Frame, MetalSiding
    Roof type
    Metal
    Additional Structures
    Storage, Outbuilding

    We can help!

    Listing Contact
    ADAM REDMAN
    ADAM REDMAN

    Listing agent ADAM REDMAN License #56355 - 90

    Listing office REDMAN REALTY GROUP, LLC 231 Oneida St PO Box 1287, Minocqua, WI

    Listing date Apr 17, 2026

    MLS# 216523

    Copyright © 2026 Greater Northwoods MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Income‑producing commercial property with fully leased suites and established Class A commercial leases.
    • High visibility and easy access on US Hwy 51 with a high average daily traffic count (9,300).
    • Substantial gross rental income of $121,223 (2026).
    • Well‑maintained and updated 10,580 sq ft building constructed in 2004.
    • Features include two overhead delivery doors, significant blacktopped parking, and a 2‑car detached garage.
    • Conveniently located near Lakeland Airport, schools, hospitals, commerce, and gas stations.

    Overview

    This income-producing commercial property is located on US Hwy 51, just north of Minocqua, Wisconsin. The 10,580 sq ft building, constructed in 2008, features four suites and has been consistently fully leased with Class A Commercial Leases. Gross rents for 2026 total $121,223. Lease agreements and P&L statements are on file. The property benefits from high visibility and direct access on Hwy 51, with an average daily traffic count of 9,300. The building includes two overhead delivery doors and a significant blacktopped parking area, as well as a two-car detached garage. Suite A is 2,720 sq ft, Suite B is 2,430 sq ft, Suite C is 2,925 sq ft, and Suite D is 2,525 sq ft. The property is situated on a 1.136-acre lot. Neighboring businesses include retail and service providers. The location is near the Lakeland Airport, schools, hospitals, commerce, and gas stations.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $139.7k $13.20
    − Vacancy −$3.6k −$0.34
    EGI $136.0k $12.86
    − OpEx −$40.8k −$3.86
    NOI $95.2k $9.00
    10,580 SF · lease $13.20/SF/yr · vacancy 2.60% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $1.36M
    $1.19M – $1.59M (±1% cap)
    NOI $95,217 @ 7.0% cap · market cap 5.60%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Industrial
    $4.95M
    $4.33M – $5.78M (±1% cap)
    NOI $346,635 @ 7.0% cap · market cap 20.39%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Woodruff
    County
    Oneida
    State
    Wisconsin
    Longitude
    -89.6969803
    Latitude
    45.9247638

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    FAQs

    What type of property is this?
    Storefront property - Income-producing commercial property on Hwy 51 near Minocqua, Wisconsin.
    Where is this storefront property located?
    The property is located at 1571 HWY 51 Woodruff, WI.
    What is the asking price?
    The asking price for this property is $1,700,000.
    What are key features of this property?
    This property features: Income‑producing commercial property with fully leased suites and established Class A commercial leases.; High visibility and easy access on US Hwy 51 with a high average daily traffic count (9,300).; Substantial gross rental income of $121,223 (2026).
    (715) 892-7325
    We can help!
    Listing Contact
    ADAM REDMAN
    ADAM REDMAN
    Real Estate License ID: 56355 - 90
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    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
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