Solid Block Office/Retail
For Sale
Contact for pricing
15 E Eau Claire Street, Rice Lake, WI 54868
Office or retail building with off-street parking and full basement.
Property Size836 SF
Price / SF$119.02
Days on Market913
Property Features for 15 E Eau Claire Street
General Information
Standard status
Active
Size
836 SF
Property subtype
Land
Building Details
Year Built
1975
Listing Agency:
Coldwell Banker Brenizer, Realtors Rice Lake
(715) 234-5010
Listed By:
Ben Rivard · License #55555
Source:
Crexi
Added: Mar 2, 2024
Changed: Aug 8
Last Checked: Aug 31 at 4:24AM
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 Coldwell Banker Brenizer, Realtors Rice Lake
Investment Insights
Based on property information with market context.
This solid block building, suitable for office or retail use, features a new roof and new electrical service box installed in 2023. The property is located a half-block from Main Street, across from the post office. The full basement provides storage space and includes a full bathroom. Off-street parking is available behind the building. The property has a size of 836 square feet.
Key Highlights
- Convenient location: just 1/2 block off Main St, across from the post office.
- New roof and new electrical service box installed in 2023.
- Flexible use: Suitable for office or retail purposes.
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
$8,627
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
8.67%
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%
$172,540
$172.5K
Cap Rate 7%
$123,243
$123.2K
Cap Rate 9%
$95,856
$95.9K
Market Conditions
NOI Build-Up for 836 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
$14.7K $17.64/SF
− Vacancy
−$3.2K −$3.88/SF
EGI
$11.5K $13.76/SF
− OpEx
−$2.9K −$3.44/SF
NOI
$8.6K $10.32/SF
Area
Barron County, WI
Vacancy
22.00%
Lease Rate
$17.64 /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%
$172,540
Cap Rate 7%
$123,243
Cap Rate 9%
$95,856
Alternative Uses
Best Use
Office B
$123.2K
$107.8K – $143.8K
NOI $8,627 @ 7.0% cap · market cap 8.67%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$671.7K
$587.7K – $783.7K
NOI $47,019 @ 7.0% cap · market cap 47.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
537
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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office or retail building with off-street parking and full basement.
Where is this office building located?
The property is located at 15 E Eau Claire Street Rice Lake, WI.
What is the asking price?
The asking price for this property is $99,500.
What are key features of this property?
This property features: Convenient location: just 1/2 block off Main St, across from the post office.; New roof and new electrical service box installed in 2023.; Flexible use: Suitable for office or retail purposes.
