Office Building with
For Sale
Contact for pricing
1226 Lincoln, Rhinelander, WI 54501
Configured with reception, conference, private office, and lower-level finished areas.
Property Size2,665 SF
Price / SF$206.34
Days on Market159
Property Features for 1226 Lincoln
General Information
Standard status
Active
Size
2,665 SF
Property subtype
Retail, Office
Zoning
B-3
Additional Details
Road Access
Yes
Amenities
signage
open reception area
conference room
private offices
finished rooms
garage
paved parking
Building Details
Year Built
999
Units
1
Listing Agency:
Shorewest, REALTORS
Listed By:
Deb Mann · License #73216-94
(715) 369-1223
Source:
Crexi
Added: Mar 28
Changed: Aug 30
Last Checked: Aug 30 at 3:57PM
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 Shorewest, REALTORS
Investment Insights
Based on property information with market context.
This 2,665 SF office building includes an open reception area, conference room, eight private offices on the main level, and three finished rooms downstairs. The property also includes a 26-by-40-foot garage on the rear parcel, with access from Coon Street. Paved private parking and existing signage support day-to-day business operations.
The offering comprises three parcels with two curb cuts on Lincoln Street in Rhinelander. B-3 zoning applies to two of the three parcels. The existing configuration is suited to professional service operations and can also accommodate the drive-up food or coffee and retail uses identified for the property.
The offering comprises three parcels with two curb cuts on Lincoln Street in Rhinelander. B-3 zoning applies to two of the three parcels. The existing configuration is suited to professional service operations and can also accommodate the drive-up food or coffee and retail uses identified for the property.
Key Highlights
- 2,665 SF office building with reception, conference room, and eight main‑level private offices
- Three finished rooms in the lower level provide additional usable space
- 26x40 garage on the rear parcel with access to Coon Street
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
$22,786
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
4.14%
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%
$455,720
$455.7K
Cap Rate 7%
$325,514
$325.5K
Cap Rate 9%
$253,178
$253.2K
Market Conditions
NOI Build-Up for 2,665 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
$40.0K $15.00/SF
− Vacancy
−$9.6K −$3.60/SF
EGI
$30.4K $11.40/SF
− OpEx
−$7.6K −$2.85/SF
NOI
$22.8K $8.55/SF
Area
Oneida County, WI
Vacancy
24.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$455,720
Cap Rate 7%
$325,514
Cap Rate 9%
$253,178
Alternative Uses
Best Use
Office B
$325.5K
$284.8K – $379.8K
NOI $22,786 @ 7.0% cap · market cap 4.14%
Second Best
Mixed Use
$280.6K
$245.6K – $327.4K
NOI $19,644 @ 7.0% cap · market cap 3.57%
Theoretical Best
Industrial
$1.25M
$1.09M – $1.46M
NOI $87,314 @ 7.0% cap · market cap 15.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 54501, WI
20,591
Population
12,754
Households
1.6
Avg Household Size
48
Median Age
26%
College-Educated
96%
High-School Grad
366.3 sq mi
ZIP Area
56
Density / Sq Mi
$68,602
Median Household Income
$37,578
Median Earnings
$831
Median Rent
$194,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Configured with reception, conference, private office, and lower-level finished areas.
Where is this office building located?
The property is located at 1226 Lincoln Rhinelander, WI.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 2,665 SF office building with reception, conference room, and eight main‑level private offices; Three finished rooms in the lower level provide additional usable space; 26x40 garage on the rear parcel with access to Coon Street
