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    Lakefront Investment Opportunity in Tomahawk Title is generated by Realmo AI

    101 HICKEY AVE E, Tomahawk, WI 54487

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    For Sale
    $625,000

    MULTI_FAMILY - Other - Tomahawk, WI

    Lot size:
    0.44 Acres
    Added:
    May 11, 2026
    Days on Market:
    6
    Last Refresh:
    May 16 at 5:06 am

    Property Features for 101 HICKEY AVE E

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    3
    Rooms
    Bathroom 2, Bedroom 3, Bedroom 2, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 4, Bedroom 5, Dining Room, Laundry Room
    Parking
    2
    Parking features
    Garage, Driveway
    Patio and Porch features
    Deck, Patio
    Interior features
    AdditionalLivingQuarters, CeilingFans, CathedralCeilings, HighCeilings, Pantry, CableTv, VaultedCeilings
    Exterior features
    Dock, Patio
    Fireplace
    1
    Appliances
    Dishwasher, ElectricOven, ElectricRange, GasWaterHeater, Microwave, WasherDryer, Washer
    Standard status
    Active
    APN
    28634060310215
    Lot size
    0.44 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    SEC 03-34-06 LT 2 CSM 2591 V15 P49 D0524339
    Tax Annual Amount
    4567

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public
    Water front
    1

    Building Details

    Year built
    2006
    Floors in Building
    2
    Flooring type
    Carpet, Vinyl
    Building materials
    Frame, VinylSiding
    Roof type
    Shingle, Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    JACKIE LEONHARD TEAM

    Listing agent JACKIE LEONHARD TEAM License #55186 - 90

    Listing office NORTHWOODS COMMUNITY REALTY, LLC 101 W Mohawk Drive, Tomahawk, WI

    Listing date May 11, 2026

    MLS# 217055 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.

    HighLights

    • Great Location near Downtown
    • Recently Renovated Kitchen
    • Spacious Backyard Perfect for Entertaining
    • Hardwood Floors Throughout
    • Stainless Steel Appliances Included
    • Close to Public Transportation

    Overview

    This property presents an exceptional investment opportunity on the shores of Lake Mohawksin. Known as Lake Mohawksin Shores, this well-established waterfront vacation rental property is located in the heart of the Northwoods. The property has a strong rental history and outstanding guest appeal. Situated on over 300 feet of frontage with private docks, this 2-unit property is designed for both relaxation and recreation. The property consists of 2 separate units with separate utilities. The upper unit features 3 beds, 2 baths with a master suite, and a 2-car attached garage. A shared entryway provides inside access to all the units. Both units have full-length lakeside decks, and comfortable accommodations for large groups and families. Located on the highly desirable 1,500+ acre Lake Mohawksin chain, guests can explore miles of water, waterfront bars and restaurants, boat rentals, fishing opportunities, kayaking, water ski shows, biking trails, and year-round recreation right from the property. The convenient Tomahawk location provides close access to shopping, dining, and community events. The property sits on a 0.435-acre lot. This is a turnkey opportunity in one of Northern Wisconsin's most popular recreation destinations. It can be used to continue operating a successful vacation rental business, create a family compound, or expand an investment portfolio.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Restaurant Law Firm Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Gym & Fitness Center Department Store Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Tomahawk
    County
    Lincoln
    State
    Wisconsin
    Longitude
    -89.7305976
    Latitude
    45.4552405

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    FAQs

    What type of property is this?
    Short term rental property - Waterfront vacation rental property on Lake Mohawksin with strong rental history.
    Where is this short term rental property located?
    The property is located at 101 HICKEY AVE E Tomahawk, WI.
    What is the asking price?
    The asking price for this property is $625,000.
    What are key features of this property?
    This property features: Great Location near Downtown; Recently Renovated Kitchen; Spacious Backyard Perfect for Entertaining
    (715) 612-2673
    We can help!
    Listing Contact
    JACKIE LEONHARD TEAM
    Real Estate License ID: 55186 - 90
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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.

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