Highway 51 Commercial
For Sale
$1,700,000
1571 Hwy 51, Woodruff, WI 54568
Income-producing, four-suite commercial property near Minocqua, Wisconsin.
Property Size10,580 SF
Price / SF$160.68
Days on Market130
Property Features for 1571 Hwy 51
General Information
Standard status
Active
Size
10,580 SF
Property subtype
Commercial
Lease Term
12 Months
Taxes and HOA fees
Annual Taxes
$6,457
Building Details
Building Size
10,580 SF
Year Built
2004
Units
4
Listing Agency:
Redman Realty Group, LLC
(715) 892-7325
Listed By:
Adam Redman · License #56355 - 90
(715) 892-7325
Source:
Northwoodswi
Added: Apr 17
Changed: Aug 23
Last Checked: Aug 24 at 1:07PM
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 Redman Realty Group, LLC
Investment Insights
Based on property information with market context.
This commercial property, located on US Highway 51 just north of Minocqua, Wisconsin, presents an income-producing opportunity. Constructed in 2008, the 10,580 square foot building has been well-maintained and updated. The property features four suites and has historically been fully leased with Class A commercial leases. Gross rents are projected to total $121,223 in 2026. Lease agreements and P&L statements are available. The property benefits from high visibility and direct access on Highway 51, which sees an average daily traffic count of 9,300 vehicles. The building includes two overhead delivery doors and a significant blacktopped parking area, as well as a two-car detached garage. The suite sizes are as follows: Suite A is 2,720 square feet, Suite B is 2,430 square feet, Suite C is 2,925 square feet, and Suite D is 2,525 square feet. Neighboring businesses include retail and service providers. The property is located near the Lakeland Airport, schools, hospitals, commerce, and gas stations.
Key Highlights
- Income‑producing commercial property with a history of full occupancy and Class A commercial leases.
- Prime location on US Hwy 51 with high visibility and easy access, benefiting from a daily traffic count of 9,300.
- Well‑maintained and updated 10,580 sq ft building constructed in 2008.
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
$77,985
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
4.59%
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%
$1,559,700
$1.6M
Cap Rate 7%
$1,114,071
$1.1M
Cap Rate 9%
$866,500
$866.5K
Market Conditions
NOI Build-Up for 10,580 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
$137.1K $12.96/SF
− Vacancy
−$12.3K −$1.17/SF
EGI
$124.8K $11.79/SF
− OpEx
−$46.8K −$4.42/SF
NOI
$78.0K $7.37/SF
Area
Oneida County, WI
Vacancy
9.00%
Lease Rate
$12.96 /SF/Yr
Expense Ratio
37.50%
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%
$1,559,700
Cap Rate 7%
$1,114,071
Cap Rate 9%
$866,500
Alternative Uses
Best Use
Mixed Use
$1.11M
$974.8K – $1.30M
NOI $77,985 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$4.95M
$4.33M – $5.78M
NOI $346,635 @ 7.0% cap · market cap 20.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
69
Businesses Nearby
Explore this area
Business Placement
Demographics for 54568, WI
5,175
Population
3,855
Households
1.3
Avg Household Size
55
Median Age
36%
College-Educated
96%
High-School Grad
71.2 sq mi
ZIP Area
73
Density / Sq Mi
$71,944
Median Household Income
$45,337
Median Earnings
$791
Median Rent
$262,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Income-producing, four-suite commercial property near Minocqua, Wisconsin.
Where is this mixed-use property located?
The property is located at 1571 Hwy 51 Woodruff, WI.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Income‑producing commercial property with a history of full occupancy and Class A commercial leases.; Prime location on US Hwy 51 with high visibility and easy access, benefiting from a daily traffic count of 9,300.; Well‑maintained and updated **10,580 sq ft building constructed in 2008.**
