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

    8085 HWY 51 Minocqua, WI 54548

    View on Map
    For Sale
    $1,449,000

    COMMERCIAL - Minocqua, WI

    Lot size:
    1.65 Acres
    Added:
    Jul 29, 2025
    Days on Market:
    247
    Last Refresh:
    Apr 1 at 11:06 am

    Property Features for 8085 HWY 51

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    MI-2329-5
    Lot size
    1.65 Acres

    Taxes and HOA fees

    TaxYear
    2023
    TaxDescription
    Prt of the SW NE
    TaxAnnualAmount
    4586

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Floors in Building
    1
    Number of units
    1
    Building materials
    MetalSiding
    Roof type
    Rubber

    We can help!

    Listing Contact
    GARY GOSKA

    Listing agent GARY GOSKA License #9186 - 90

    Listing office ELIASON REALTY - LAND O LAKES 4228 Hwy B P.O. Box 335, Land O' Lakes, WI

    Listing date Jul 29, 2025

    MLS# 208322 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

    Established Bowling Center with Lounge

    This well-established bowling center, complete with a lounge and restaurant, is situated on Hwy 51 in Minocqua, Wisconsin. Known as Island City Lanes & Lounge, it benefits from a strong local customer base and consistent seasonal tourist traffic. The property features 12 synthetic lanes, a spacious sports bar area suitable for viewing sports events and car races, and a game room. A large parking lot is available. The business has demonstrated excellent financial performance. Additional features include fiber optic internet, a 16 x 24 storage garage, city sewer and water services, and natural gas. The property is located on a 1.65-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bowling alleys

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Auto Repair Shop Nail Salon Gym & Fitness Center Auto Parts Store Skin Care Clinic Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Minocqua
    County
    Oneida
    State
    Wisconsin
    Longitude
    -89.704721
    Latitude
    45.8547495

    Nearby Similar for Sale

    • $399,900

      Prime Retail Space in Minocqua

      High-visibility commercial building in Minocqua's historic Boardwalk Shops.
      8528 HWY 51, Minocqua, WI 54548
      View Details
    • $350,000

      Renovated Commercial Building on Highway

      Charming, renovated commercial building with high US Hwy 51 exposure.
      7601 HWY 51, Minocqua, WI 54548
      View Details
    • $674,500

      Prime Office Space in Minocqua

      Commercial property with offices, conference room, kitchen, garage, and accessibility.
      9559 BOLGER LAKE RD, Minocqua, WI 54548
      View Details
    • $4,950,000

      Minocqua Waterfront Resort Investment

      Historic resort with waterfront cottages and redevelopment potential in Minocqua.
      317 PARK AVE E, Minocqua, WI 54548
      View Details
    • $1,250,000

      Prime Commercial Location in Minocqua

      High-traffic location near Hwy 51 and Hwy 70 in Minocqua.
      8700 HWY 51, Minocqua, WI 54548
      View Details
    • $1,250,000

      COMMERCIAL - Minocqua, WI

      Commercial property in high-traffic location near Hwy 51 and Hwy 70.
      8700 Hwy 51, Minocqua, WI 54548
      View Details
    • $694,900

      Established Restaurant & Bar For Sale

      Well-known restaurant and bar with living quarters and lake frontage.
      1520 CTH F unit: 8, Minocqua, WI 54548
      View Details
    • $350,000
      1,525 SF

      Renovated Building on High-Exposure Lot

      Charming, renovated commercial building with US Hwy 51 frontage.
      7601 US-51, Minocqua, WI 54548
      View Details
    • $599,000

      Minocqua Mixed-Use Commercial/Residential Opportunity

      Commercial/residential property near downtown Minocqua with lake frontage and rental potential.
      8135 HWY 51, Minocqua, WI 54548
      View Details
    • $344,900

      Minocqua Fourplex Investment Opportunity

      Four-unit property near downtown Minocqua with income potential.
      9506 CORY LN, Minocqua, WI 54548
      View Details
    • $274,900

      Minocqua Fourplex Investment Opportunity

      Fourplex in Minocqua with diverse floorplans and close to town.
      9503 CORY LN, Minocqua, WI 54548
      View Details
    • $1,960,000
      9,870 SF

      Premier Fishing Retail Store

      Thriving fishing retail store and bait shop in Minocqua, Wisconsin.
      8654 Us Highway 51 N, MINOCQUA, WI, 54548-9347
      View Details

    FAQs

    What type of property is this?
    Bowling alley - Bowling center, lounge, and restaurant on Hwy 51 in Minocqua, WI.
    Where is this bowling alley located?
    The property is located at 8085 HWY 51 Minocqua, WI.
    What is the asking price?
    The asking price for this property is $1,449,000.
    What are key features of this property?
    This property features: Well‑established bowling center, lounge, and restaurant with a strong local following and seasonal tourist traffic.; Located on Hwy 51 in Minocqua, WI, offering high visibility and accessibility.; Features **12 synthetic bowling lanes**, a large sports bar, and a game room.
    (715) 547-3341
    We can help!
    Listing Contact
    GARY GOSKA
    Real Estate License ID: 9186 - 90
    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!