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Office Building with Apartment
For Sale
$98,500

172 LAKE AVE N, Phillips, WI 54555

CommercialSale, Phillips, WI

Property SizeContact for details
Lot Size0.05 Acres
Days on Market105

Property Features for 172 LAKE AVE N

General Information

Property type Commercial Sale
Property subtype Office
Bedrooms 1
Rooms Bedroom 1
Directions N on HWY 13, Parking on HWY 13, or L on Cherry, alley way will be on your immediate L. Building back entrance is on your L.
Standard status Active
APN 272-100303000
Lot size 0.05 Acres

Taxes and HOA fees

Tax Description PHILLIPS PRT OF LOT 3 BLOCK 3 ALL FULLY DESC IN 298R-629
Legal Description PHILLIPS PRT OF LOT 3 BLOCK 3 ALL FULLY DESC IN 298R-629

Utilities

Sewer type Public Sewer
Heating system Forced Air
Water source Public

Building Details

Number of units 1
Flooring type Carpet, Tile
Building materials WoodSiding
Roof type Rubber
Listing Agency: RE/MAX NEW HORIZONS REALTY LLC · RE/MAX International
Listed By: ALLI MATHYS · License #84761 - 94
Added: Jun 4 Changed: Sep 13 Last Checked: Sep 16 at 2:06PM
MLS# 217702

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.

Investment Insights

Based on property information with market context.

This office building combines a welcoming reception area with four office spaces and a kitchenette. The upper level contains a one-bedroom, one-bath apartment that is currently under contract with the State of Wisconsin Corrections and renews annually in June.

The property occupies 0.05 acres at 172 Lake Ave N in Phillips, Wisconsin. Building features include wood siding, carpet and tile flooring, forced-air heat, a rubber roof, and a new sidewalk along the front. Public water and public sewer serve the property.

Key Highlights

  • Four office spaces plus reception area and kitchenette
  • Upstairs one‑bedroom, one‑bath apartment under contract with the State of Wisconsin Corrections
  • Apartment contract renews annually in June

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Dental Office Auto Repair Shop Plumbing Service Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1
Residential units

Location Intelligence

Trade Area within ½ mile

300
Businesses Nearby

Demographics for 54555, WI

4,887
Population
3,553
Households
1.4
Avg Household Size
52
Median Age
23%
College-Educated
95%
High-School Grad
364.2 sq mi
ZIP Area
13
Density / Sq Mi
$58,613
Median Household Income
$38,094
Median Earnings
$836
Median Rent
$172,900
Median Home Value
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019
15.6% 2020
17.1% 2021
18.9% 2022
21% 2023
22% 2024
21.3% 2025
Rey
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Frequently Asked Questions

What type of property is this?
Office building - Office property with reception, multiple workrooms, kitchenette, and an upstairs residential unit under contract.
Where is this office building located?
The property is located at 172 LAKE AVE N Phillips, WI.
What is the asking price?
The asking price for this property is $98,500.
What are key features of this property?
This property features: Four office spaces plus reception area and kitchenette; Upstairs one‑bedroom, one‑bath apartment under contract with the State of Wisconsin Corrections; Apartment contract renews annually in June
More about this property
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