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Versatile Commercial Property Near Rice Lake

2248 20 1/4 Street, Rice Lake, WI 54868

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For Sale

$349,000

COMMERCIAL - Rice Lake, WI

Property size:

2,768 SF

Lot size:

0.64 Acres

Price / SF:

$126/SF

HighLights

Prime commercial location on highly traveled Hwy 48 near Rice Lake with excellent visibility and strong daily traffic.
Two versatile buildings: Building A (~2,700 sq ft, former restaurant adaptable for retail/office/food service) and Building B (~2,300 sq ft, newer, open space for events/showroom/storage).
Ample on‑site parking.
Situated on approximately 0.64 acres.
Updated mechanicals and infrastructure in place.
Building A includes a large walk‑in cooler.

We can help!

Listing Contact

Daniel Nelson

For Sale

$349,000

COMMERCIAL - Rice Lake, WI

Property size:

2,768 SF

Lot size:

0.64 Acres

Price / SF:

$126/SF

Added:: Apr 30, 2026
Days on Market:: 48
Last Refresh:: Jun 16 at 11:06 pm

Property Features for 2248 20 1/4 Street

General Information

Property type: Commercial Sale
Property subtype: Other
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

Utilities

Sewer type: Septic Tank, Private Sewer
Heating system: Forced Air
Cooling system: Central Air
Water source: Well

Building Details

Building materials: WoodSiding

We can help!

Listing Contact

Daniel Nelson

Listing agent Daniel Nelson License #93963-94

Listing office Real Estate Solutions 1815A S Main St, Rice Lake, WI

Listing date Apr 30, 2026

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.

HighLights

Prime commercial location on highly traveled Hwy 48 near Rice Lake with excellent visibility and strong daily traffic.
Two versatile buildings: Building A (~2,700 sq ft, former restaurant adaptable for retail/office/food service) and Building B (~2,300 sq ft, newer, open space for events/showroom/storage).
Ample on‑site parking.
Situated on approximately 0.64 acres.
Updated mechanicals and infrastructure in place.
Building A includes a large walk‑in cooler.

Overview

This commercial property is located just north of Rice Lake along Highway 48, offering high visibility and traffic exposure at a busy intersection. Situated on approximately 0.64 acres, the property features two buildings. Building A, approximately 2,700 square feet, was previously operated as a restaurant and offers a functional layout adaptable for retail, office, or food service use, and includes a large walk-in cooler. Building B, a newer structure of approximately 2,300 square feet, provides open, flexible space suitable for events, showroom space, storage, or additional business operations. The property includes ample on-site parking, updated mechanicals, and existing infrastructure to support multiple business types. This property is positioned for owner-occupants or investors looking to establish, expand, or reposition a business. The property is suitable for a wide range of business opportunities with easy access and high visibility.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$48.8k	$17.64
− Vacancy	−$10.7k	−$3.88
EGI	$38.1k	$13.76
− OpEx	−$9.5k	−$3.44
NOI	$28.6k	$10.32

2,768 SF · lease $17.64/SF/yr · vacancy 22.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$408.1K

$357.1K – $476.1K (±1% cap)

NOI $28,564 @ 7.0% cap · market cap 8.18%

Second Best

Specialty Retail

$346.6K

$303.3K – $404.4K (±1% cap)

NOI $24,264 @ 7.0% cap · market cap 6.95%

Theoretical Best

Warehouse

$2.22M

$1.95M – $2.59M (±1% cap)

NOI $155,681 @ 7.0% cap · market cap 44.61%

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

Property Profile Location Intelligence

Current Use by Public Records

Retail space

Map

City: Rice Lake
County: Barron
State: Wisconsin
Longitude: -91.739485
Latitude: 45.530072

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For sale
Retail space
WI
Rice Lake
54868
2248 20 1/4 Street

What type of property is this?

Retail space - High-visibility property with two buildings suitable for various business uses.

Where is this retail 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 $349,000.

What are key features of this property?

This property features: Prime commercial location on highly traveled Hwy 48 near Rice Lake with excellent visibility and strong daily traffic.; Two versatile buildings: Building A (~2,700 sq ft, former restaurant adaptable for retail/office/food service) and Building B (~2,300 sq ft, newer, open space for events/showroom/storage).; Ample on‑site parking.

2248 20 1/4 Street, Rice Lake, WI 54868

COMMERCIAL - Rice Lake, WI

Property Features for 2248 20 1/4 Street

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Office B

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Map

Nearby Similar for Sale

Updated Medical Arts Building Condo

Established Restaurant in Rice Lake

Main Street Commercial Building

Updated Medical Arts Condo

Flex Space with Showroom and Overhead Doors

Established Bar and Restaurant For Sale

Four-Unit Residential Income Property

Versatile Building in Downtown Rice

Corner-Lot Mixed-Use Downtown Property

Main Street Commercial Building

Rice Lake Commercial Property

Established Storage Facility with Expansion Potential

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