Convenience Store and Gas
For Sale
$299,000
2995 Lake Road, Solon Springs, WI 54873
CommercialSale, Solon Springs, WI
Property Size2,736 SF
Lot Size0.38 Acres
Price / SF$109.28
Days on Market227
Property Features for 2995 Lake Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Exterior features
Lighting
Elementary school district
Drummond Area
Middle school district
Drummond Area
High school district
Drummond Area
Directions
North on State Hwy 27 about 20 mile, turn right onto Lake RD to signs it is right on the corner.
Standard status
Active
APN
04004244090920500780000
Size
2,736 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
2080
Utilities
Sewer type
Septic Tank
Heating system
Forced Air
Cooling system
Central Air
Water source
Well, Private
Building Details
Year built
1970
Building materials
WoodSiding
Listing Agency:
Re/Max Cornerstone · RE/MAX International
(715) 327-4848
Listed By:
John Tinman ~ Tinman Real Estate Group · License #82357-94
(715) 327-4848
Added: Jan 4
Changed: Aug 19
Last Checked: Aug 19 at 7:06PM
MLS# 1597712
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 convenience store and gas station includes an established retail operation with gas pumps and a variety of on-site offerings. The business inventory mix highlighted in the remarks includes an extensive bait and tackle selection, food and beverages, and a full beer and liquor inventory, along with movie rentals, LP refilling, air services, and clothing sales.
The property is located at 2995 Lake Road in Solon Springs, WI on Highway 27. Exterior features include lighting. The building is wood-siding construction with forced air heating and central air conditioning.
Additional site utilities include a well for water and a septic tank for sewer. The property sits on a 0.378-acre lot and was built in 1970.
The property is located at 2995 Lake Road in Solon Springs, WI on Highway 27. Exterior features include lighting. The building is wood-siding construction with forced air heating and central air conditioning.
Additional site utilities include a well for water and a septic tank for sewer. The property sits on a 0.378-acre lot and was built in 1970.
Key Highlights
- Convenience store and gas station business with gas pumps
- On Highway 27 location at 2995 Lake Road, Solon Springs, WI
- Extensive bait and tackle selection plus food and beverages
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
$11,059
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
3.70%
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%
$221,180
$221.2K
Cap Rate 7%
$157,986
$158.0K
Cap Rate 9%
$122,878
$122.9K
Market Conditions
NOI Build-Up for 2,736 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
$16.1K $5.88/SF
− Vacancy
−$290 −$0.11/SF
EGI
$15.8K $5.77/SF
− OpEx
−$4.7K −$1.73/SF
NOI
$11.1K $4.04/SF
Area
Douglas County, WI
Vacancy
1.80%
Lease Rate
$5.88 /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%
$221,180
Cap Rate 7%
$157,986
Cap Rate 9%
$122,878
Alternative Uses
Best Use
Specialty Retail
$862.6K
$754.8K – $1.01M
NOI $60,385 @ 7.0% cap · market cap 20.20%
Second Best
Retail
$479.7K
$419.7K – $559.6K
NOI $33,577 @ 7.0% cap · market cap 11.23%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 54873, WI
3,009
Population
2,904
Households
1
Avg Household Size
54
Median Age
29%
College-Educated
95%
High-School Grad
265.2 sq mi
ZIP Area
11
Density / Sq Mi
$85,909
Median Household Income
$42,721
Median Earnings
$836
Median Rent
$232,800
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 - High-traffic Highway 27 location with gas pumps, bait and tackle, beverages, beer and liquor, and movie rentals
Where is this gas station located?
The property is located at 2995 Lake Road Solon Springs, WI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Convenience store and gas station business with gas pumps; On Highway 27 location at 2995 Lake Road, Solon Springs, WI; Extensive bait and tackle selection plus food and beverages
