Building Details

Buildings 1

Construction block

Listing Agency: WESTconsin Realty LLC w***@westconsinrealty.com Show Phone

Listed By: Judy Nichols · License #4515594 Show Phone

Source: Exprealty

Added: Oct 5 Changed: Oct 26 Last Checked: Nov 1 at 10:22AM

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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 WESTconsin Realty LLC

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This block-construction mixed-use property contains 2,736 square feet. A leased three-bedroom apartment occupies the upper floor, while the main level is divided into two separate spaces. The property is currently zoned residential.

The building has a history of varied occupancy, including use as a theater, dental office, and photo studio. Its current layout combines an occupied apartment with two separate ground-floor areas.

Key Highlights

• 2,736‑square‑foot block building
• Leased three‑bedroom apartment on the upper floor
• Two separate spaces on the main floor

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,382

Cap Rate

7.11%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$227,640 $227.6K

Cap Rate 7%

$162,600 $162.6K

Cap Rate 9%

$126,467 $126.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,736 SF

Gross rent

$21.7K $7.92/SF

− Vacancy

−$975 −$0.36/SF

EGI

$20.7K $7.56/SF

− OpEx

−$9.3K −$3.40/SF

NOI

$11.4K $4.16/SF

Area

Barron County, WI

Vacancy

4.50%

Lease Rate

$7.92 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$227,640

Cap Rate 7%

$162,600

Cap Rate 9%

$126,467

Alternative Uses

Best Use

Mixed Use

$539.4K

$472.0K – $629.3K (±1% cap)

NOI $37,757 @ 7.0% cap · market cap 23.60%

Second Best

Apartment 5plus

$162.6K

$142.3K – $189.7K (±1% cap)

NOI $11,382 @ 7.0% cap · market cap 7.11%

Theoretical Best

Warehouse

$2.20M

$1.92M – $2.56M (±1% cap)

NOI $153,881 @ 7.0% cap · market cap 96.18%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Bright Iris Media ... (Bike/Boat/Book/etc) Store JLR Photography (Bike/Boat/Book/etc) Store ABrekke Solutions LLC General Contractor

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage HVAC Service Auto Parts Store Building Supply Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

137

Businesses Nearby

Explore this area Business Placement

Demographics for 54889, WI

2,800

Population

1,812

Households

1.5

Avg Household Size

48

Median Age

23%

College-Educated

94%

High-School Grad

73.5 sq mi

ZIP Area

38

Density / Sq Mi

$71,951

Median Household Income

$41,973

Median Earnings

$872

Median Rent

$230,300

Median Home Value

Frequently Asked Questions

What type of property is this?

Mixed-use property - The residentially zoned building includes a leased three-bedroom apartment and two distinct main-floor spaces.

Where is this mixed-use property located?

The property is located at 308 Maple St S Turtle Lake, WI.

What is the asking price?

The asking price for this property is $160,000.

What are key features of this property?

This property features: 2,736‑square‑foot block building; Leased three‑bedroom apartment on the upper floor; Two separate spaces on the main floor