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    949 State Road 46 Amery, WI 54001

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    Claim this Listing
    For Sale
    $329,000

    Commercial - Lincoln Twp, WI

    Lot size:
    0.92 Acres
    Added:
    Aug 4, 2025
    Days on Market:
    269
    Last Refresh:
    Apr 29 at 10:06 pm

    Property Features for 949 State Road 46

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Business/Commercial,Other
    Parking features
    Paved or Surfaced
    Exterior features
    Vinyl
    Standard status
    Active
    APN
    032004190000
    Lot size
    0.92 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    2431

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1970
    Flooring type
    Concrete
    Building materials
    Frame
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Michelle Austad
    Michelle Austad

    Listing agent Michelle Austad

    Listing office EXP Realty, LLC 8383 Greenway Blvd Ste 600, White Bear Lake, WI

    Listing date Aug 4, 2025

    MLS# 6761384 Listing URL

    Copyright © 2026 Northstar 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

    Versatile Commercial/Mixed-Use Building in Wisconsin

    Located in Lincoln Twp, WI, this well-maintained, single-story 4,055 sq ft commercial/mixed-use building offers versatile space and income potential. Zoned H-1, the property is currently used as a veterinary clinic. The layout features 5 spacious, private exam suites, 2 private offices, a break room, a spacious bathroom, and a 34 X 33 main lobby equipped with a front service desk. The infrastructure includes dual furnaces, 2 central A/C units, and 3-phase power, supporting a wide range of commercial, medical, or service-based businesses. Situated on a 0.92-acre lot, the property has two separate entries, making it suitable for shared professional use or a "live in one side - work in the other side" conversion. There is also opportunity to convert the building to a primary residence. Potential uses include a vet clinic, chiropractic, health and wellness facility, pet grooming and salon, doggy daycare, insurance office, real estate offices, boutique, retail, private counseling, in-home daycare, animal rescue, or a store front for a variety of businesses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Real Estate Agency Auto Repair Shop Hotel & Motel Computer & Electronic Repair Veterinary Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Amery
    County
    Polk
    State
    Wisconsin
    Longitude
    -92.357484
    Latitude
    45.350528

    Nearby Similar for Sale

    • $74,900

      Versatile Commercial Space in Amery

      High-visibility commercial space in downtown Amery, Wisconsin.
      126 Keller Avenue N, Amery, WI 54001
      View Details
    • $149,900

      Historic Theater with Coffee Shop

      Renovated Art Deco theater with coffee shop in downtown Amery.
      118 Keller Avenue N, Amery, WI 54001
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Well-maintained 4,055 sq ft building with income potential.
    Where is this mixed-use property located?
    The property is located at 949 State Road 46 Amery, WI.
    What is the asking price?
    The asking price for this property is $329,000.
    What are key features of this property?
    This property features: Versatile 4,055 sq ft Commercial/Mixed‑Use building (Zoned H‑1); Potential for conversion to primary residence or live/work space; Dual furnaces, 2 central A/C units, and 3‑phase power
    (651) 271-6085
    We can help!
    Listing Contact
    Michelle Austad
    Michelle Austad
    Learn More
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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
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