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    Multi-Use Property in Rhinelander, WI Title is generated by Realmo AI

    400-416 PELHAM ST S, Rhinelander, WI 54501

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    Claim this Listing
    For Sale
    $549,900

    COMMERCIAL - Rhinelander, WI

    Property size:
    9,130 SF
    Lot size:
    0.70 Acres
    Price / SF:
    $60/SF
    Added:
    May 19, 2025
    Days on Market:
    383
    Last Refresh:
    Jun 5 at 3:06 am

    Property Features for 400-416 PELHAM ST S

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bedrooms
    11
    Bathrooms
    9
    Rooms
    Bathroom 2, Bedroom 11, Bathroom 9, Bathroom 1, Bathroom 4, Bedroom 1, Bedroom 7, Bathroom 3, Bedroom 6, Bedroom 10, Bedroom 2, Bathroom 7, Bedroom 3, Bathroom 6, Bedroom 9, Bathroom 5, Bedroom 5, Bedroom 8, Bathroom 8, Bedroom 4
    Parking features
    Special Needs
    Exterior features
    HandicapAccessible
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    RH-294 & RH-296
    Size
    9,130 SF
    Lot size
    0.70 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Lengthy see file
    Tax Annual Amount
    10370

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Flooring type
    Carpet, Vinyl, Mixed
    Building materials
    Frame
    Roof type
    Rubber, Shingle, Composition

    We can help!

    Listing Contact
    SCOTT FREIMUTH
    SCOTT FREIMUTH

    Listing agent SCOTT FREIMUTH License #49270 - 90

    Listing office NORWISREALTY.COM LLC 3590 County Rd N, Rhinelander, WI

    Listing date May 19, 2025

    MLS# 212087 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.

    HighLights

    • Multi‑use property with significant income potential.
    • High‑visibility corner location in the heart of Rhinelander, WI, with high traffic count and private paved parking.
    • Building One features approx. 3330 sq ft of residential space and approx. 5800 sq ft of retail/office space, with reconfiguration potential.
    • Building Two offers approx. 2000 sq ft divided into 3 retail/office spaces with a full basement.
    • Many of the residential units have been recently remodeled.
    • Well‑maintained buildings with easy access to city amenities, making it an ideal location for tenants.

    Overview

    This multi-use property features two buildings in the heart of Rhinelander, Wisconsin, situated on a corner location with high visibility and traffic. Building One includes four 2-bedroom, 1-bathroom apartments, and an efficiency apartment, totaling approximately 3330 square feet of residential space on the upper floor. Many of these units have been recently remodeled. The main level contains an 852 square foot 2-bedroom, 1-bathroom residential apartment, along with approximately 5800 square feet of retail and office spaces. The main floor layout can be reconfigured for additional income. Building Two offers approximately 2000 square feet divided into 3 retail/office spaces with a full basement. The property includes off-street private paved parking lots and easy access to city amenities and activities for tenants. The buildings are well maintained. The property is situated on a 0.7-acre lot. The property is for real estate only, no business included.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Rhinelander
    County
    Oneida
    State
    Wisconsin
    Longitude
    -89.41325039
    Latitude
    45.63436397

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    FAQs

    What type of property is this?
    Mixed-use property - Multi-use property with apartments, retail, and office spaces.
    Where is this mixed-use property located?
    The property is located at 400-416 PELHAM ST S Rhinelander, WI.
    What is the asking price?
    The asking price for this property is $549,900.
    What are key features of this property?
    This property features: Multi‑use property with significant income potential.; High‑visibility corner location in the heart of Rhinelander, WI, with high traffic count and private paved parking.; Building One features approx. 3330 sq ft of residential space and approx. 5800 sq ft of retail/office space, with reconfiguration potential.
    (715) 282-7130
    We can help!
    Listing Contact
    SCOTT FREIMUTH
    SCOTT FREIMUTH
    Real Estate License ID: 49270 - 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.

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