Storefront with Warehouse
For Sale
$550,000
230 S Main St, Rice Lake, WI 54868
Commercial storefront with attached storage, off-street parking, and immediate occupancy on Main Street.
Property Size4,406 SF
Price / SF$124.83
Days on Market31
Property Features for 230 S Main St
General Information
Standard status
Active
Size
4,406 SF
Listing Agency:
Team Realty
(715) 234-1991
Listed By:
Layne Grover · License #28584-90
Source:
Homcentric
Added: Jul 30
Changed: Aug 29
Last Checked: Aug 29 at 1:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Team Realty
Investment Insights
Based on property information with market context.
This storefront property includes more than 4,000 square feet of retail space along with an attached 400-square-foot warehouse and storage area. The building is available for immediate occupancy and is configured for a business requiring both customer-facing space and dedicated storage.
The sale includes two lots totaling over half an acre at 230 S Main St in Rice Lake, Wisconsin. Off-street parking is available on the property, providing convenient access for occupants and visitors.
The sale includes two lots totaling over half an acre at 230 S Main St in Rice Lake, Wisconsin. Off-street parking is available on the property, providing convenient access for occupants and visitors.
Key Highlights
- More than 4,000 square feet of retail building space
- Attached 400 sq. feet of warehouse/storage
- Sale includes two (2) lots totaling over a half acre
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
$17,765
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
3.23%
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%
$355,300
$355.3K
Cap Rate 7%
$253,786
$253.8K
Cap Rate 9%
$197,389
$197.4K
Market Conditions
NOI Build-Up for 4,406 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
$26.4K $6.00/SF
− Vacancy
−$1.1K −$0.24/SF
EGI
$25.4K $5.76/SF
− OpEx
−$7.6K −$1.73/SF
NOI
$17.8K $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 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%
$355,300
Cap Rate 7%
$253,786
Cap Rate 9%
$197,389
Alternative Uses
Best Use
Retail
$253.8K
$222.1K – $296.1K
NOI $17,765 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.54M
$3.10M – $4.13M
NOI $247,807 @ 7.0% cap · market cap 45.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
Under-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 Retail 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?
Storefront property - Commercial storefront with attached storage, off-street parking, and immediate occupancy on Main Street.
Where is this storefront property located?
The property is located at 230 S Main St Rice Lake, WI.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: More than 4,000 square feet of retail building space; Attached 400 sq. feet of warehouse/storage; Sale includes two (2) lots totaling over a half acre
