Four-Suite Office
For Sale
$1,700,000
1571 HWY 51, Woodruff, WI 54568
CommercialSale, Woodruff, WI
Property Size10,580 SF
Lot Size1.14 Acres
Price / SF$160.68
Days on Market165
Property Features for 1571 HWY 51
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
6
Half bathrooms
6
Rooms
Bathroom 2, Bathroom 6, Bathroom 4, Bathroom 1, Bathroom 5, Bathroom 3
Parking features
Driveway, Garage
Interior features
Storage
Lot features
Level
Directions
From Minocqua: North on Hwy 51 to property on (L) in Arbor Vitae
Standard status
Active
APN
2-982-07
Lot size
1.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PRT GOVT LOT 1
Tax Annual Amount
6457
Legal Description
PRT GOVT LOT 1
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Forced Air, Natural Gas
Cooling system
Central Air
Water source
Well
Amenities
overhead delivery doors
detached garage
Building Details
Year built
2004
Floors in Building
1
Number of units
4
Flooring type
Vinyl, Concrete, Carpet
Building materials
Cedar, Frame, MetalSiding
Roof type
Metal
Additional Structures
Outbuilding, Storage
Listing Agency:
REDMAN REALTY GROUP, LLC
(715) 358-0450
Listed By:
ADAM REDMAN · License #56355 - 90
(715) 892-7325
Added: Apr 17
Changed: Sep 23
Last Checked: Sep 28 at 1:06AM
MLS# 216523
Copyright © 2026 Greater Northwoods MLS. 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 office property comprises four commercial suites within a 10,580-square-foot building on 1.136 acres. The suite areas are 2,720 square feet, 2,430 square feet, 2,925 square feet, and 2,525 square feet. The building includes storage, six bathrooms, two overhead delivery doors, central air, forced-air heating, and a metal roof. Parking is provided through a blacktopped area, driveway, and detached two-car garage.
The property fronts US Hwy 51 with direct access and an average daily traffic count of 9,300. It is located near Lakeland Airport, schools, hospitals, commercial activity, and gas stations, with neighboring businesses consisting of retail and service providers. All four suites are currently leased, and lease agreements and P&L statements are available on file.
The property fronts US Hwy 51 with direct access and an average daily traffic count of 9,300. It is located near Lakeland Airport, schools, hospitals, commercial activity, and gas stations, with neighboring businesses consisting of retail and service providers. All four suites are currently leased, and lease agreements and P&L statements are available on file.
Key Highlights
- Four commercial suites totaling 10,580 square feet
- Suite sizes: 2,720 SF, 2,430 SF, 2,925 SF, and 2,525 SF
- Fully leased building with Class A Commercial Leases
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
$95,217
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
5.60%
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%
$1,904,340
$1.9M
Cap Rate 7%
$1,360,243
$1.4M
Cap Rate 9%
$1,057,967
$1.1M
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
$139.7K $13.20/SF
− Vacancy
−$3.6K −$0.34/SF
EGI
$136.0K $12.86/SF
− OpEx
−$40.8K −$3.86/SF
NOI
$95.2K $9.00/SF
Area
Oneida County, WI
Vacancy
2.60%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,904,340
Cap Rate 7%
$1,360,243
Cap Rate 9%
$1,057,967
Alternative Uses
Best Use
Retail
$1.36M
$1.19M – $1.59M
NOI $95,217 @ 7.0% cap · market cap 5.60%
Second Best
Office B
$1.29M
$1.13M – $1.51M
NOI $90,459 @ 7.0% cap · market cap 5.32%
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
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Open Analytics
Current Use
Lease Details
4
Office units
9,300 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
73
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Fully leased commercial building with direct US Hwy 51 access, delivery doors, and substantial paved parking.
Where is this office units 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: Four commercial suites totaling 10,580 square feet; Suite sizes: 2,720 SF, 2,430 SF, 2,925 SF, and 2,525 SF; Fully leased building with Class A Commercial Leases
