Former Gas Station on 1.55
For Sale
Contact for pricing
2501 S Main St, Rice Lake, WI 54868
Former C-Store & Gas Station on 1.55 Acre site.
Property Size3,859 SF
Lot Size1.55 Acres
Price / SF$90.44
Days on Market156
Property Features for 2501 S Main St
General Information
Standard status
Active
Size
3,859 SF
Lot size
1.55 Acres
Property subtype
Retail, Office, Mixed Use
Zoning
G2 - Commercial
Building Details
Year Built
2013
Buildings
1
Stories
1
Listing Agency:
The Raven Team - Bryan Raven
Listed By:
Bryan Raven · License #50853-90
Source:
Crexi
Added: Mar 16
Changed: Aug 8
Last Checked: Aug 18 at 6:27PM
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 The Raven Team - Bryan Raven
Investment Insights
Based on property information with market context.
This property is a former C-Store and gas station situated on a 1.55-acre site. The location offers high visibility. The existing structure includes a 900-square-foot store. The site is equipped with 8 pumps and 3 tanks, with capacities of 5,000, 7,000, and 20,000 gallons respectively; the tanks are made of fiberglass. There are multiple options to reactivate the station or redevelop the site. The seller is willing to remove the tanks with an acceptable offer. The property has a Fair Market Value of $706,900 and a size of 3859 square feet.
Key Highlights
- 1.55 Acre Site: Large lot offers redevelopment potential or reactivation of the existing station.
- Highly Visible Location: Prime location ensures high traffic and exposure.
- 8‑Pump Gas Station: Existing infrastructure for immediate gas sales if reactivated.
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
$15,559
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
4.46%
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%
$311,180
$311.2K
Cap Rate 7%
$222,271
$222.3K
Cap Rate 9%
$172,878
$172.9K
Market Conditions
NOI Build-Up for 3,859 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
$23.2K $6.00/SF
− Vacancy
−$926 −$0.24/SF
EGI
$22.2K $5.76/SF
− OpEx
−$6.7K −$1.73/SF
NOI
$15.6K $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%
$311,180
Cap Rate 7%
$222,271
Cap Rate 9%
$172,878
Alternative Uses
Best Use
Industrial
$2.55M
$2.23M – $2.98M
NOI $178,741 @ 7.0% cap · market cap 51.22%
Second Best
Specialty Retail
$483.3K
$422.9K – $563.8K
NOI $33,828 @ 7.0% cap · market cap 9.69%
Theoretical Best
Warehouse
$3.10M
$2.71M – $3.62M
NOI $217,042 @ 7.0% cap · market cap 62.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
588
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
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?
Gas station - Former C-Store & Gas Station on 1.55 Acre site.
Where is this gas station located?
The property is located at 2501 S Main St 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: 1.55 Acre Site: Large lot offers redevelopment potential or reactivation of the existing station.; Highly Visible Location: Prime location ensures high traffic and exposure.; 8‑Pump Gas Station: Existing infrastructure for immediate gas sales if reactivated.
