Flex Property With Two
For Sale
$325,000
2248 20 1/4 Street, Rice Lake, WI 54868
CommercialSale, Rice Lake, WI
Property Size2,768 SF
Lot Size0.64 Acres
Price / SF$117.41
Days on Market188
Property Features for 2248 20 1/4 Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Exterior features
PoleSign
Elementary school district
Rice Lake Area
Middle school district
Rice Lake Area
High school district
Rice Lake Area
Directions
From Rice Lake: north on Hwy 48, 1.4 miles to property on left.
Standard status
Active
APN
038-0900-20-000
Size
2,768 SF
Lot size
0.64 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Parcel #1 of CSM # 11/39 #124533, Exc part in Lot 1 CSAM 16/20 #$2232
Tax Annual Amount
4227
Legal Description
Parcel #1 of CSM # 11/39 #124533, Exc part in Lot 1 CSAM 16/20 #$2232
Utilities
Sewer type
Septic Tank, Private Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Well
Building Details
Building materials
WoodSiding
Buildings
2
Listing Agency:
Real Estate Solutions
(715) 719-0555
Listed By:
Daniel Nelson · License #93963-94
(715) 205-8592
Added: Apr 30
Changed: Oct 25
Last Checked: Nov 3 at 6:06PM
MLS# 1599730
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex property in Rice Lake comprises two buildings on approximately 0.64 acres. One building was formerly used as a restaurant and includes a walk-in cooler; the second is a newer structure with open space. On-site parking and updated mechanical systems are also part of the property.
The site is north of Rice Lake along Hwy 48, at an intersection. Well water and private septic service the property.
The site is north of Rice Lake along Hwy 48, at an intersection. Well water and private septic service the property.
Key Highlights
- Two buildings on approximately 0.64 acres
- Former restaurant building includes a walk‑in cooler
- Newer second building offers open interior space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,161
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$223,220
$223.2K
Cap Rate 7%
$159,443
$159.4K
Cap Rate 9%
$124,011
$124.0K
Market Conditions
NOI Build-Up for 2,768 SF
Gross rent
$16.6K $6.00/SF
− Vacancy
−$664 −$0.24/SF
EGI
$15.9K $5.76/SF
− OpEx
−$4.8K −$1.73/SF
NOI
$11.2K $4.03/SF
Area
Barron County, WI
Vacancy
4.00%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$223,220
Cap Rate 7%
$159,443
Cap Rate 9%
$124,011
Alternative Uses
Best Use
Industrial
$1.83M
$1.60M – $2.14M
NOI $128,208 @ 7.0% cap · market cap 39.45%
Second Best
Retail
$159.4K
$139.5K – $186.0K
NOI $11,161 @ 7.0% cap · market cap 3.43%
Theoretical Best
Warehouse
$2.22M
$1.95M – $2.59M
NOI $155,681 @ 7.0% cap · market cap 47.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
39
Businesses Nearby
Well-served
Demand for This Use
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
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Two separate structures provide adaptable space, including a building with a walk-in cooler and another with an open interior.
Where is this flex space located?
The property is located at 2248 20 1/4 Street Rice Lake, WI.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two buildings on approximately 0.64 acres; Former restaurant building includes a walk‑in cooler; Newer second building offers open interior space
