Mixed-Use Property with
For Sale
$599,000
15 W Marshall Street, Rice Lake, WI 54868
CommercialSale, Rice Lake, WI
Property Size7,904 SF
Lot Size0.15 Acres
Price / SF$75.78
Days on Market70
Property Features for 15 W Marshall Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial, Residential-Multifamily
Elementary school district
Rice Lake Area
Middle school district
Rice Lake Area
High school district
Rice Lake Area
Directions
From Rice Lake Main St head north to left on marshall street to property on right
Standard status
Active
APN
276-1884-97-000
Size
7,904 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PLAT 23-1 LOT 23 BLK 13 EX E 17 FT 9 IN THRF ORIGINAL PLAT CITY OF RICE LAKE
Tax Annual Amount
5783
Legal Description
PLAT 23-1 LOT 23 BLK 13 EX E 17 FT 9 IN THRF ORIGINAL PLAT CITY OF RICE LAKE
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Ductless
Water source
Public
Building Details
Year built
1912
Building materials
Brick
Listing Agency:
Real Estate Solutions
(715) 719-0555
Listed By:
Casey Watters · License #52542-90
(715) 434-7904
Added: Aug 6
Changed: Oct 14
Last Checked: Oct 14 at 2:06PM
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.
Investment Insights
Based on property information with market context.
This brick mixed-use property at 15 W Marshall Street in Rice Lake contains 7,904 square feet across six occupied residential units, a commercial storefront, and several office spaces. The apartment mix includes four two-bedroom units and two one-bedroom units. Built in 1912, the building is served by forced-air heat and ductless cooling.
The property sits in downtown Rice Lake, just off Main Street, on a 0.15-acre lot. Public water and public sewer serve the site.
The property sits in downtown Rice Lake, just off Main Street, on a 0.15-acre lot. Public water and public sewer serve the site.
Key Highlights
- 7,904‑square‑foot mixed‑use building on a 0.15‑acre lot
- Six occupied apartments: four 2‑bedroom units and two 1‑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.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Six occupied apartments accompany commercial frontage and office areas in a downtown Rice Lake building.
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 building on a 0.15‑acre lot; Six occupied apartments: four 2‑bedroom units and two 1‑bedroom units; Commercial storefront and multiple office spaces
