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    614 Wild Rice Ave Lac du Flambeau, WI 54538

    Sponsored
    For Sale
    $325,000

    COMMERCIAL - Lac du Flambeau, WI

    Property size:
    6,672 SF
    Lot size:
    0.63 Acres
    Days on Market:
    8
    Last Refresh:
    Feb 5 at 12:06 pm

    Property Features for 614 Wild Rice Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2
    Bathrooms
    2
    APN
    6 Parcels
    Parking features
    Paved or Surfaced, Garage, Driveway
    Interior features
    Storage
    Size
    6,672 SF
    Lot size
    0.63 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Propane (Heating), Forced Air
    Water source
    Public

    Building Details

    Floors in Building
    2
    Number of units
    1
    Flooring type
    Vinyl, Concrete, Carpet
    Building materials
    Masonry, MetalSiding, Concrete, Steel
    Roof type
    Composition, Rubber, Shingle
    Additional Structures
    Storage

    We can help!

    Listing Contact
    ADAM REDMAN
    ADAM REDMAN

    Redman Realty Group, LLC (715) 358-0450

    Listing agent ADAM REDMAN (715) 892-7325 License #56355 - 90

    Listing date Jan 29, 2026

    MLS# 215584

    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

    Former Fire Station with Expansion

    The former Town of Lac du Flambeau Fire Station is available for purchase. The sale includes a total of 6 tax parcels, offering room for improvement expansion. The building has 6,672 square feet of space and features concrete block, masonry, and frame construction. The main section includes 4 overhead doors measuring 12' x 12', an upper-level mezzanine, multiple offices, a kitchen, a meeting room, and two bathrooms. The original section features 3 overhead doors measuring 10'x9'. There is also an additional single-bay garage. The building is currently occupied by a tenant, with a lease on file. It is suitable for industrial or warehouse uses, personal storage, contractor storage, and office space. The property is located downtown and offers convenient and easy access from two roads.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center Cafe & Coffee Shop Daycare Center Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Lac du Flambeau
    County
    Vilas
    State
    Wisconsin
    Longitude
    -89.89402077
    Latitude
    45.96857955

    FAQs

    What type of property is this?
    Warehouse - Former fire station on 0.63 acres, suitable for warehouse/office.
    Where is this warehouse located?
    The property is located at 614 Wild Rice Ave Lac du Flambeau, WI.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: - Large 6,672+\/- sq ft building suitable for industrial, warehouse, storage, contractor, or office space.; - Downtown location with convenient access from two roads.; - Includes 6 tax parcels, allowing for potential expansion.
    (715) 892-7325
    Request Owner's contact information
    614 Wild Rice Ave Lac du Flambeau, WI 54538
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    Lac du Flambeau, WI 54538
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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
    614 Wild Rice Ave Lac du Flambeau, WI 54538
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    We can help!
    Listing Contact
    ADAM REDMAN
    ADAM REDMAN
    Real Estate License ID: 56355 - 90
    (715) 892-7325
    Learn more
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