Two-Building Restaurant & Showroom
For Sale
$349,000
2248 20 1/4 Street, Rice Lake, WI 54868
COMMERCIAL - Rice Lake, WI
Property Size2,768 SF
Lot Size0.64 Acres
Price / SF$126.08
Days on Market96
Property Features for 2248 20 1/4 Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
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
Amenities
large walk-in cooler
updated mechanicals
Building Details
Building materials
WoodSiding
Listing Agency:
Real Estate Solutions
(715) 719-0555
Listed By:
Daniel Nelson · License #93963-94
(715) 205-8592
Added: Apr 30
Changed: Aug 2
Last Checked: Aug 3 at 7:06PM
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.
Investment Insights
Based on property information with market context.
This two-building conventional restaurant property totals about 0.64 acres and is positioned for flexible commercial use. Building A is approximately 2,700 SF and was previously operated as a restaurant, with a functional layout and a large walk-in cooler that can support continued food service or be adapted for retail or office uses. Building B is approximately 2,300 SF and is a newer structure featuring open, flexible space that can work for events, showroom space, storage, or additional business operations.
The property is just north of Rice Lake along highly traveled Hwy 48 at a busy intersection, offering strong visibility and daily traffic exposure. Additional features include ample on-site parking and updated mechanicals.
The buildings have wood siding, forced-air heating, and central air. Water service is provided by a well, with septic tank and private sewer for wastewater.
The property is just north of Rice Lake along highly traveled Hwy 48 at a busy intersection, offering strong visibility and daily traffic exposure. Additional features include ample on-site parking and updated mechanicals.
The buildings have wood siding, forced-air heating, and central air. Water service is provided by a well, with septic tank and private sewer for wastewater.
Key Highlights
- About 0.64 acres along highly traveled Hwy 48 at a busy intersection with strong visibility
- Building A: approximately 2,700 SF previously operated as a restaurant with a large walk‑in cooler
- Building B: approximately 2,300 SF newer open flexible space for events, showroom, or storage
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.2k | $12.00 |
| − Vacancy | −$864 | −$0.31 |
| EGI | $32.4k | $11.69 |
| − OpEx | −$8.1k | −$2.92 |
| NOI | $24.3k | $8.77 |
2,768 SF · lease $12.00/SF/yr · vacancy 2.60% · expense 25.00%
Alternative Uses
Best Use
Warehouse
$2.22M
$1.95M – $2.59M
NOI $155,681 @ 7.0% cap · market cap 44.61%
Second Best
Specialty Retail
$346.6K
$303.3K – $404.4K
NOI $24,264 @ 7.0% cap · market cap 6.95%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
8
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Two-building restaurant property on Hwy 48 with flexible space, central air, ample parking, and utilities in place.
Where is this conventional restaurant 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 $349,000.
What are key features of this property?
This property features: About 0.64 acres along highly traveled Hwy 48 at a busy intersection with strong visibility; Building A: approximately 2,700 SF previously operated as a restaurant with a large walk‑in cooler; Building B: approximately 2,300 SF newer open flexible space for events, showroom, or storage
