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    Historic Soo Line Depot Available Title is generated by Realmo AI

    112 E Veterans Parkway, Marshfield, WI 54449

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    For Sale
    $324,900

    Unique Marshfield property with endless retail, restaurant, or office opportunities.

    Type:Commercial/Industrial
    Property size:
    2,108 SF
    Lot size:
    0.12 Acres
    Price / SF:
    $154/SF
    Added:
    Mar 11, 2026
    Days on Market:
    67
    Last Refresh:
    Apr 5 at 8:51 pm

    Property Features for 112 E Veterans Parkway

    General Information

    Standard status
    Active
    Size
    2,108 SF
    Lot size
    0.12 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1887

    We can help!

    Listing Contact
    ASHLEY FREDRICK
    ASHLEY FREDRICK

    Listing agent ASHLEY FREDRICK License #76489-94

    Listing office NEXTHOME HUB CITY

    Listing date Mar 11, 2026

    Source Exitrealty

    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 NEXTHOME HUB CITY

    HighLights

    • Highly visible location ideal for business (retail, restaurant, or office).
    • Recent updates include new roof (2018), A/C compressors (2019/2020), and furnaces (2024).
    • Historical significance as the original Soo Line Depot.
    • Unique architectural features: original windows, doors, trim work, and octagon Station Master's room with original desk.
    • Renovated in 2000 into current use.
    • Notable historical detail: trim with 'TEX KT' carving.

    Overview

    This highly visible property, originally the Soo Line Depot, offers a unique opportunity for various business ventures. The Depot was relocated in 1999 due to the construction of Veterans Parkway and renovated into the Royal Tokyo Teppanyaki Steak House in 2000. The renovation included stripping and refinishing the oak wainscotting, original windows, doors, and trim work. Historical features include two frosted 'pickled' windows along the Southeast wall, which were once the engineer's locker rooms and showers. The window opening into the octagon Station Master's room has trim with 'TEX KT' carved into it, referencing a renowned 20th-century hobo. The two large entry doors were recreated to represent the luggage storage area of the original building. The octagon area, once the Station Master's vantage point, still contains his original desk. The property offers endless opportunities for retail, restaurant, or office space. Recent updates include a new roof in 2018, new A/C compressors in 2019 and 2020, two new furnaces in 2024, and a concrete patio in 2020. The property size is 2108 square feet.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $318.1K
    NOI $28,627 @ 9.00% cap · cautious / downside scenario
    Moderate
    $409.0K
    NOI $28,627 @ 7.00% cap · market / base-case scenario
    Aggressive
    $572.5K
    NOI $28,627 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Specialty Retail

    Component $ $/SF
    Gross rent $40.0k $18.96
    − Vacancy −$1.8k −$0.85
    EGI $38.2k $18.11
    − OpEx −$9.5k −$4.53
    NOI $28.6k $13.58
    2,108 SF · lease $18.96/SF/yr · vacancy 4.50% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $409.0K
    $357.8K – $477.1K (±1% cap)
    NOI $28,627 @ 7.0% cap · market cap 8.81%
    Second Best
    Office B
    $267.6K
    $234.2K – $312.3K (±1% cap)
    NOI $18,735 @ 7.0% cap · market cap 5.77%
    Theoretical Best
    —
    —
    same as Best Use
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Marshfield
    County
    Wood
    State
    Wisconsin
    Longitude
    -90.1725
    Latitude
    44.6664

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    FAQs

    What type of property is this?
    Conventional restaurant - Unique Marshfield property with endless retail, restaurant, or office opportunities.
    Where is this conventional restaurant located?
    The property is located at 112 E Veterans Parkway Marshfield, WI.
    What is the asking price?
    The asking price for this property is $324,900.
    What are key features of this property?
    This property features: Highly visible location ideal for business (retail, restaurant, or office).; Recent updates include new roof (2018), A/C compressors (2019/2020), and furnaces (2024).; Historical significance as the original Soo Line Depot.
    (715) 898-1060
    We can help!
    Listing Contact
    ASHLEY FREDRICK
    ASHLEY FREDRICK
    Real Estate License ID: 76489-94
    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.

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