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

    Off FERNWOOD DR unit 3.71 Ac Phelps, WI 54554

    View on Map
    For Sale
    $249,000

    LAND - Phelps, WI

    Lot size:
    3.71 Acres
    Added:
    Oct 7, 2025
    Days on Market:
    184
    Last Refresh:
    Apr 8 at 3:06 am

    Property Features for Off FERNWOOD DR unit 3.71 Ac

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    18-1517-0007
    Lot size
    3.71 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    LOT 7 16CS389 PRT GOVT LOT 4
    Tax Annual Amount
    789

    Utilities

    Water front features
    Lake Front
    Water front
    1

    We can help!

    Listing Contact
    MICHELLE GARSOW
    MICHELLE GARSOW

    Listing agent MICHELLE GARSOW

    Listing office CENTURY 21 BURKETT - LOL 4153 Hwy B PO Box 701, Eagle River, WI

    Listing date Oct 7, 2025

    MLS# 214637 Listing URL

    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.

    Overview

    Long Lake Waterfront Land Parcel

    This 3.7-acre land parcel in Phelps, WI, features 300 feet of frontage on Long Lake. A shared boardwalk provides access to the water's edge. Long Lake is known for its clear waters and peaceful atmosphere, suitable for boating, kayaking, and fishing. The wooded property offers seclusion and direct access to nearby recreational trail systems for snowmobiling, ATVing, and hiking. This property is suited for building a cabin, retirement retreat, or investment in the Northwoods.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Phelps
    County
    Vilas
    State
    Wisconsin
    Longitude
    -89.0374613
    Latitude
    46.0462233

    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
    • $319,000

      Recreational Land with Storage Building

      5.39-acre buildable parcel with a 64x40 pole building.
      1402 Kentuck Lake Landing, Phelps T-WI, WI 54554-9999
      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
    • $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 - 3.7-acre land parcel with 300 feet of Long Lake frontage.
    Where is this recreation land located?
    The property is located at Off FERNWOOD DR unit 3.71 Ac Phelps, WI.
    What is the asking price?
    The asking price for this property is $249,000.
    What are key features of this property?
    This property features: 300 ft of Frontage on Long Lake; 3.7‑acre parcel; Direct access to recreational trail systems
    (715) 891-4075
    We can help!
    Listing Contact
    MICHELLE GARSOW
    MICHELLE GARSOW
    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!