Mixed-Use Building with
New
For Sale
$599,000
15 W Marshall St, Rice Lake, WI 54868
Six occupied apartments accompany commercial and office areas in downtown Rice Lake.
Property Size7,904 SF
Price / SF$75.78
Days on Market7
Property Features for 15 W Marshall St
General Information
Standard status
Active
Size
7,904 SF
Occupancy
100%
Units
Unit Mix
4 x 2BR, 2 x 1BR
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$5,783
Listing Agency:
Real Estate Solutions
(715) 719-0555
Listed By:
Casey Watters · License #5254290
(715) 434-7904
Source:
Exprealty
Added: Oct 14
Changed: Oct 19
Last Checked: Oct 19 at 2:19PM
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 Real Estate Solutions
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Investment Insights
Based on property information with market context.
At 15 W Marshall St, this 7,904-square-foot mixed-use property combines six occupied apartments with a commercial storefront and multiple office spaces. The residential mix includes four two-bedroom units and two one-bedroom units.
The property is in downtown Rice Lake, just off Main Street. Its residential, storefront, and office components bring several distinct space types together in one building.
The property is in downtown Rice Lake, just off Main Street. Its residential, storefront, and office components bring several distinct space types together in one building.
Key Highlights
- 7,904 square feet of mixed‑use space
- Six occupied apartments: four two‑bedroom units and two one‑bedroom units
- Commercial storefront and multiple office spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,880
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$657,600
$657.6K
Cap Rate 7%
$469,714
$469.7K
Cap Rate 9%
$365,333
$365.3K
Market Conditions
NOI Build-Up for 7,904 SF
Gross rent
$62.6K $7.92/SF
− Vacancy
−$2.8K −$0.36/SF
EGI
$59.8K $7.56/SF
− OpEx
−$26.9K −$3.40/SF
NOI
$32.9K $4.16/SF
Area
Barron County, WI
Vacancy
4.50%
Lease Rate
$7.92 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$657,600
Cap Rate 7%
$469,714
Cap Rate 9%
$365,333
Alternative Uses
Best Use
Mixed Use
$1.56M
$1.36M – $1.82M
NOI $109,075 @ 7.0% cap · market cap 18.21%
Second Best
Apartment 5plus
$469.7K
$411.0K – $548.0K
NOI $32,880 @ 7.0% cap · market cap 5.49%
Theoretical Best
Warehouse
$6.35M
$5.56M – $7.41M
NOI $444,546 @ 7.0% cap · market cap 74.21%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
586
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Six occupied apartments accompany commercial and office areas in downtown Rice Lake.
Where is this mixed-use property located?
The property is located at 15 W Marshall St Rice Lake, WI.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 7,904 square feet of mixed‑use space; Six occupied apartments: four two‑bedroom units and two one‑bedroom units; Commercial storefront and multiple office spaces
