Mixed-Use Building with
15 W Marshall Street, Rice Lake, WI 54868
For Sale
$599,000
CommercialSale, Rice Lake, WI
Property Size7,904 SF
Lot Size0.15 Acres
Price / SF$75.78
Days on Market99
Property Features for 15 W Marshall Street
General Information
Property type
Property subtype
Zoning description
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Mixed-Use Components
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Building materials
Listing Agency:
Real Estate Solutions
(715) 719-0555
Listed By:
Casey Watters · License WI 52542-90
(715) 434-7904
Added: Aug 6
Changed: Oct 23
Last Checked: Nov 12 at 8:06AM
MLS# 1605559
Copyright © 2026 REALTORS® Association of Northwestern Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 7,904-square-foot mixed-use property at 15 W Marshall Street combines six occupied apartments with a vacant commercial storefront containing three offices. The residential mix includes four two-bedroom units and two one-bedroom units. Brick construction dates to 1912, and the parcel measures 0.15 acres.
Located in downtown Rice Lake, the building has public water and sewer service, forced-air heating, and ductless cooling. The storefront and apartment component provide distinct residential and commercial spaces within one property.
Located in downtown Rice Lake, the building has public water and sewer service, forced-air heating, and ductless cooling. The storefront and apartment component provide distinct residential and commercial spaces within one property.
Key Highlights
- 7,904‑square‑foot mixed‑use property on a 0.15‑acre parcel
- Six occupied apartments: four 2‑bedroom units and two 1‑bedroom units
- Vacant commercial storefront includes 3 offices
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
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
6
Residential units
Yes
Utilities to site
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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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Six occupied apartments accompany a vacant storefront configured with three offices.
Where is this mixed-use property located?
The property is located at 15 W Marshall Street 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‑foot mixed‑use property on a 0.15‑acre parcel; Six occupied apartments: four 2‑bedroom units and two 1‑bedroom units; Vacant commercial storefront includes 3 offices
