Premier Fishing Retail
For Sale
$1,960,000
8654 Us Highway 51 N, Minocqua, WI 54548
Thriving fishing retail store and bait shop in Minocqua, Wisconsin.
Property Size9,870 SF
Lot Size2.62 Acres
Price / SF$198.58
Days on Market527
Property Features for 8654 Us Highway 51 N
General Information
Standard status
Active
Size
9,870 SF
Lot size
2.62 Acres
Taxes and HOA fees
Annual Taxes
$5,716
Listing Agency:
FIRST WEBER - MINOCQUA
(715) 360-2364
Listed By:
DEREK LARSON TEAM
(715) 360-2364
Source:
Exprealty
Added: Mar 14, 2025
Changed: Aug 20
Last Checked: Aug 22 at 10:46AM
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 FIRST WEBER - MINOCQUA
Investment Insights
Based on property information with market context.
Located in Minocqua, Wisconsin, this property is home to a premier fishing retail store and bait shop. Situated on a 2.62-acre level site with 200 feet of frontage on high-traffic Highway 51, the location benefits from proximity to Taco Bell, McDonalds, Starbucks, and Kwik Trip. The 9,870 square foot building houses the region's largest fishing inventory and includes thriving internet sales, as well as rental income from an additional commercial unit within the building. A new 30' x 60' attached storage area features 10' x 12' overhead doors for inventory unloading and storage. The large lot, equipped with two highway entrances, can easily accommodate fishing customers with boats and trailers. This is a turn-key business opportunity.
Key Highlights
- Premier fishing retail store and bait shop in a high‑traffic tourism location.
- Large 9870 sqft building with the region's largest fishing inventory and thriving internet sales.
- Prime location on 2.62 acres with 200' of Hwy 51 frontage near major businesses.
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
$88,828
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
4.53%
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%
$1,776,560
$1.8M
Cap Rate 7%
$1,268,971
$1.3M
Cap Rate 9%
$986,978
$987.0K
Market Conditions
NOI Build-Up for 9,870 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
$130.3K $13.20/SF
− Vacancy
−$3.4K −$0.34/SF
EGI
$126.9K $12.86/SF
− OpEx
−$38.1K −$3.86/SF
NOI
$88.8K $9.00/SF
Area
Oneida County, WI
Vacancy
2.60%
Lease Rate
$13.20 /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%
$1,776,560
Cap Rate 7%
$1,268,971
Cap Rate 9%
$986,978
Alternative Uses
Best Use
Retail
$1.27M
$1.11M – $1.48M
NOI $88,828 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$4.62M
$4.04M – $5.39M
NOI $323,374 @ 7.0% cap · market cap 16.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
482
Businesses Nearby
94k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 49%
Kwik Trip
Shops & Services
35,003 visits/mo
0.2 miles
McDonald's
Dining
16,966 visits/mo
0.2 miles
Starbucks
Dining
10,699 visits/mo
0.2 miles
Taco Bell
Dining
7,956 visits/mo
0.2 miles
Associated Bank
Shops & Services
5,447 visits/mo
0.2 miles
Demographics for 54548, WI
5,406
Population
5,096
Households
1.1
Avg Household Size
56
Median Age
36%
College-Educated
96%
High-School Grad
99.0 sq mi
ZIP Area
55
Density / Sq Mi
$69,784
Median Household Income
$42,378
Median Earnings
$935
Median Rent
$307,700
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?
Retail property - Thriving fishing retail store and bait shop in Minocqua, Wisconsin.
Where is this retail property located?
The property is located at 8654 Us Highway 51 N Minocqua, WI.
What is the asking price?
The asking price for this property is $1,960,000.
What are key features of this property?
This property features: Premier fishing retail store and bait shop in a high‑traffic tourism location.; Large 9870 sqft building with the region's largest fishing inventory and thriving internet sales.; Prime location on 2.62 acres with 200' of Hwy 51 frontage near major businesses.
