Downtown Mixed-Use
For Sale
$379,900
1 S Main St, Rice Lake, WI 54868
Corner property combines a commercial workspace with a three-bedroom apartment and separate lower-level business space.
Property Size4,059 SF
Price / SF$93.59
Days on Market10
Property Features for 1 S Main St
General Information
Standard status
Active
Size
4,059 SF
Occupancy
100%
Additional Details
Gross Income
$31,200
Corner Location
Yes
Building Details
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Realty Diversified
(715) 642-0567
Listed By:
Joshua R Amys · License #8588494
Source:
Vibemn
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 25 at 5:48AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Diversified
Investment Insights
Based on property information with market context.
This 4,009-square-foot mixed-use property, built in 1900, combines commercial and residential components in a downtown setting. The main floor is configured as a salon or studio with natural light and street-facing presence. Below, a separate level includes several service rooms or offices, a lobby and reception area, two bathrooms, and access through both interior stairs and an exterior walkout. Central A/C and forced air serve the main level, while the apartment uses baseboard heat.
The upper floor contains a three-bedroom, one-bath apartment with a practical layout and views toward downtown. The commercial and residential areas are occupied under month-to-month leases, with tenants responsible for utilities. Showings are scheduled in advance because the property is currently operating with tenants.
The upper floor contains a three-bedroom, one-bath apartment with a practical layout and views toward downtown. The commercial and residential areas are occupied under month-to-month leases, with tenants responsible for utilities. Showings are scheduled in advance because the property is currently operating with tenants.
Key Highlights
- 4,009 SF mixed‑use property on a downtown corner lot
- 1900 construction date
- Main level salon/studio with natural light and street presence
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,366
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$327,320
$327.3K
Cap Rate 7%
$233,800
$233.8K
Cap Rate 9%
$181,844
$181.8K
Market Conditions
NOI Build-Up for 4,059 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$24.4K $6.00/SF
− Vacancy
−$974 −$0.24/SF
EGI
$23.4K $5.76/SF
− OpEx
−$7.0K −$1.73/SF
NOI
$16.4K $4.03/SF
Area
Barron County, WI
Vacancy
4.00%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$327,320
Cap Rate 7%
$233,800
Cap Rate 9%
$181,844
Alternative Uses
Best Use
Mixed Use
$800.2K
$700.2K – $933.6K
NOI $56,014 @ 7.0% cap · market cap 14.74%
Second Best
Retail
$233.8K
$204.6K – $272.8K
NOI $16,366 @ 7.0% cap · market cap 4.31%
Theoretical Best
Warehouse
$3.26M
$2.85M – $3.80M
NOI $228,291 @ 7.0% cap · market cap 60.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
Explore this area
Business Placement
Demographics for 54868, WI
15,785
Population
7,640
Households
2.1
Avg Household Size
44
Median Age
25%
College-Educated
94%
High-School Grad
212.0 sq mi
ZIP Area
74
Density / Sq Mi
$64,567
Median Household Income
$40,474
Median Earnings
$850
Median Rent
$199,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner property combines a commercial workspace with a three-bedroom apartment and separate lower-level business space.
Where is this mixed-use property located?
The property is located at 1 S Main St Rice Lake, WI.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: 4,009 SF mixed‑use property on a downtown corner lot; 1900 construction date; Main level salon/studio with natural light and street presence
