Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    21xx 40th Street Somerset, WI 54025

    View on Map
    Claim this Listing
    New
    For Sale
    $365,000

    Lots & Land - Somerset, WI

    Lot size:
    9.55 Acres
    Added:
    Apr 25, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 26 at 3:06 am

    Property Features for 21xx 40th Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential-Single Family
    Standard status
    Active
    APN
    032104810120
    Lot size
    9.55 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    560.51

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Brian Leneweaver
    Brian Leneweaver

    Listing agent Brian Leneweaver

    Listing office RE/MAX Advantage Plus 13875 Highway 13 South, Savage, WI

    Listing date Apr 25, 2026

    MLS# 7060859 Listing URL

    Copyright © 2026 Northstar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    9.55 Acres R2 Zoned Land

    This 9.55-acre property, zoned R2, presents an opportunity for a private estate in a rural residential area. It features approximately 315 feet of road frontage and has electric service available at the street. The western boundary of the land adjoins U.S. Forest Service land, ensuring privacy and a natural buffer. An established estate-style home is located immediately to the south, indicating the potential for high-end residential development on this lot. The property is located in Somerset, Wisconsin.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Gym & Fitness Center Bar & Pub

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Somerset
    County
    St. Croix
    State
    Wisconsin
    Longitude
    -92.736746
    Latitude
    45.180054

    Nearby Similar for Sale

    • $5,099,900

      Somerset Commercial Property with Warehouse

      Commercial property featuring warehouse, office space, and ample parking.
      454 County Road VV, Somerset, WI 54025
      View Details
    • $265,000

      6 Acres Near St. Croix

      Nearly 6-acre wooded land near St. Croix National Golf Course.
      Tbd Lot 2 40th Street, Somerset, WI 54025
      View Details
    • $159,000

      Commercial Land in Somerset, WI

      Commercial land for sale in Somerset, Wisconsin.
      108 MAIN St, Somerset, WI 54025
      View Details
    • $149,900

      3.23 Acre Country Lot

      Build your dream home on this beautiful country lot.
      647 210th Avenue, Somerset, WI 54025
      View Details
    • $149,900

      Residential Land in Somerset, Wisconsin

      Three-acre residential land parcel in a serene Somerset development.
      1730 42nd Street, Somerset, WI 54025
      View Details
    • $159,900

      St. Croix River Bluff Lots

      Executive lots with views, build your custom dream home!
      Xxx Lot 2 38th Street, Somerset, WI 54025
      View Details
    • $159,900

      St. Croix River Bluff Land

      Land for sale in White Pine Ridge neighborhood.
      Xxx Lot #3 38th Street, Somerset, WI 54025
      View Details
    • $90,000

      Wooded Land Parcel For Sale

      Residential land for building a dream home in Somerset, WI.
      Tbd DeLong Road, Somerset, WI 54025
      View Details
    • $413,100

      Residential Lot with Panoramic Views

      Ready-to-build residential lot in Somerset, Wisconsin, with scenic views.
      869 Sutherland Street, Somerset, WI 54025
      View Details
    • $89,900

      Residential Lot Ready to Build

      Finished lot in Somerset, WI with panoramic views.
      861 Sutherland Street, Somerset, WI 54025
      View Details
    • $89,900

      Residential Lot with Panoramic Views

      Finished lot ready for building in Somerset, Wisconsin.
      873 Sutherland Street, Somerset, WI 54025
      View Details
    • $89,900

      Residential Lot Ready to Build

      Finished lot in Somerset, WI, ready for construction.
      837 Sutherland Street, Somerset, WI 54025
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential land for a private estate in Somerset, Wisconsin.
    Where is this residential land & home lot located?
    The property is located at 21xx 40th Street Somerset, WI.
    What is the asking price?
    The asking price for this property is $365,000.
    What are key features of this property?
    This property features: Large 9.55‑acre R2‑zoned lot suitable for a private estate.; Abuts U.S. Forest Service land, ensuring permanent privacy.; Approximately 315 feet of road frontage with electric ready at the street.
    (612) 208-3859
    We can help!
    Listing Contact
    Brian Leneweaver
    Brian Leneweaver
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!