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

    5354 Lake Winter Rd N Winter, WI 54896

    View on Map
    Sponsored
    For Sale
    $795,000

    COMMERCIAL - Winter, WI

    Lot size:
    5.00 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 19 at 2:06 am

    Property Features for 5354 Lake Winter Rd N

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 1, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 3
    Bedrooms
    3
    Bathrooms
    3
    Parking features
    Paved or Surfaced
    Exterior features
    Landscaping, Storage
    Lot size
    5.00 Acres

    Utilities

    Sewer type
    Holding Tank
    Heating system
    Hot Water(Heating), Propane (Heating), Baseboard
    Cooling system
    Central Air
    Water source
    Well
    Water front
    1

    Building Details

    Year built
    1978
    Floors in Building
    1
    Flooring type
    Tile, Carpet, Laminate
    Building materials
    Frame, VinylSiding, WoodSiding
    Roof type
    Metal
    Additional Structures
    Storage

    We can help!

    Listing Contact
    JAMIE LUND

    RE/MAX New Horizons Realty, LLC. (866) 386-6818

    Listing agent JAMIE LUND (715) 820-0890 License #94486 - 94

    Listing date Mar 18, 2026

    MLS# 216088

    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.

    Learn more

    Property Insight Report

    Overview

    The Rustic Lodge on Lake Winter

    The Rustic Lodge is located in Winter, Wisconsin, offering lake views. This property includes a bar and grill, and a 33-site campground. The campground features a mix of seasonal renters and transient adventurers. Each site is equipped with power and water hookups, and guests have access to a dump station. The lodge features a spacious dining area, a large bar, and a game room. The property includes on-site living quarters and five acres on Lake Winter. The bar and grill space has been updated. The property has potential for a variety of options.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Campgrounds

    Suggested Use

    Restaurant Department Store Discount Store Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Winter
    County
    Sawyer
    State
    Wisconsin
    Longitude
    -90.96583194
    Latitude
    45.8293561

    Nearby Similar for Sale

    • New
      $795,000
      5.00 Acres

      Rustic Lodge on Lake Winter

      Bar, grill, and campground on 5 acres with lake views.
      5354 Lake Winter Rd N, Winter, WI 54896
      View Details
    • New
      $795,000
      5.00 Acres

      The Rustic Lodge on Lake Winter

      Bar, grill, and campground on 5 acres with lake views.
      5354 Lake Winter Rd N, Winter, WI 54896
      View Details
    • $795,000
      3,419 SF

      Winter, WI Campground Business Opportunity

      Campground with 33 campsites, bar, restaurant, and living quarters.
      5354 Lake Winter Rd, Winter, WI 54896
      View Details
    • $294,900
      0.13 Acres

      Northwoods Bar and Grill Business

      Family-run bar and grill with living quarters and rentals.
      5165N Main St S, Winter, WI 54896
      View Details
    • $299,000
      5,216 SF

      Established Restaurant in Winter, WI

      Long-standing restaurant with loyal clientele and high revenue potential.
      5158 S Main St, Winter, WI 54896
      View Details
    • $89,900
      1,500 SF

      Turnkey Gas/Service Station For Sale

      Turnkey gas/service station in Ojibwa, Wisconsin at busy intersection.
      8596 W State Hwy, Ojibwa, WI 54862
      View Details
    • $299,900
      1.07 Acres

      Winter, WI Investment Opportunity

      Multifamily property near Tuscobia Trail, ideal for recreational enthusiasts.
      6628W Marion St, Winter, WI 54896
      View Details
    • $299,900
      1.07 Acres

      Winter WI Fourplex Investment Opportunity

      Income-producing fourplex near Doc Smith Park and Tuscobia Trail.
      6628W Marion St, Winter, WI 54896
      View Details
    • $294,900
      5,663 SF

      Northwoods Bar and Grill For Sale

      Family-run bar and grill with living quarters and rental units.
      5165N S Main St, Winter, WI 54896
      View Details
    • $300,000
      3,393 SF

      Loretta Steakhouse - Hwy 70

      Turnkey Restaurant, Hwy 70, WI
      3480W Hwy 70, Loretta, WI 54896
      View Details
    • $299,900
      5,663 SF

      Winter Commercial Property: Sports Bar & Grill

      Established Northwoods business, multiple income streams.
      5165N Main St, Winter, WI 54896
      View Details
    • $74,900
      1,500 SF

      Downtown Winter Commercial Building

      Turn-key business opportunity! High-traffic location.
      5143N Main St, Winter, WI 54896
      View Details

    FAQs

    What type of property is this?
    Campground - Bar, grill, and campground on 5 acres with lake views.
    Where is this campground located?
    The property is located at 5354 Lake Winter Rd N Winter, WI.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: - Strong revenue stream from 33-site campground.; - Located on 5 acres on Lake Winter.; - Updated bar and grill space.
    (715) 339-6818
    Request Owner's contact information
    5354 Lake Winter Rd N Winter, WI 54896
    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.
    5354 Lake Winter Rd N
    Winter, WI 54896
    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
    5354 Lake Winter Rd N Winter, WI 54896
    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

    We can help!
    Listing Contact
    JAMIE LUND
    Real Estate License ID: 94486 - 94
    (715) 339-6818 (715) 820-0890
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!