Super 8 by Wyndham
For Sale
Contact for pricing
2401 S Main St, Rice Lake, WI 54868
Limited-service hotel in Rice Lake, Wisconsin, for sale.
Property Size21,118 SF
Price / SF$119.80
Days on Market195
Property Features for 2401 S Main St
General Information
Standard status
Active
Size
21,118 SF
Property subtype
Hospitality
Building Details
Year Built
1985
Stories
2
Listing Agency:
BPG Hotels
Listed By:
Sean Matura · License #95513 - 94
Source:
Crexi
Added: Feb 9
Changed: Aug 23
Last Checked: Aug 22 at 3:41PM
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 BPG Hotels
Investment Insights
Based on property information with market context.
The Super 8 by Wyndham, a limited-service hotel, is available for purchase. Located at 2401 S. Main Street in Rice Lake, Wisconsin, the property benefits from Wyndham brand recognition and its position along a key commercial corridor. The hotel caters to leisure and business travelers seeking value-oriented accommodations. Situated near downtown Rice Lake, the hotel has access to regional employers, healthcare facilities, retail centers, and outdoor recreation. This property offers a stable investment opportunity in a consistent Wisconsin lodging market with steady year-round demand and potential for continued operational improvement. The property size is 21118 square feet.
Key Highlights
- Strong Wyndham brand recognition
- Located along a key commercial corridor
- Convenient access to downtown Rice Lake, employers, healthcare, retail, and recreation
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
$133,915
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
5.29%
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%
$2,678,300
$2.7M
Cap Rate 7%
$1,913,071
$1.9M
Cap Rate 9%
$1,487,944
$1.5M
Market Conditions
NOI Build-Up for 21,118 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
$316.8K $15.00/SF
− Vacancy
−$34.8K −$1.65/SF
EGI
$281.9K $13.35/SF
− OpEx
−$148.0K −$7.01/SF
NOI
$133.9K $6.34/SF
Area
Barron County, WI
Vacancy
11.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
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%
$2,678,300
Cap Rate 7%
$1,913,071
Cap Rate 9%
$1,487,944
Alternative Uses
Best Use
Hotel Hospitality
$1.91M
$1.67M – $2.23M
NOI $133,915 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$16.97M
$14.85M – $19.80M
NOI $1,187,742 @ 7.0% cap · market cap 46.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
381
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Limited-service hotel in Rice Lake, Wisconsin, for sale.
Where is this hotel located?
The property is located at 2401 S Main St Rice Lake, WI.
What is the asking price?
The asking price for this property is $2,530,000.
What are key features of this property?
This property features: Strong Wyndham brand recognition; Located along a key commercial corridor; Convenient access to downtown Rice Lake, employers, healthcare, retail, and recreation
