Remodeled Four-Unit
For Sale
$350,000
36 W Eau Claire Street 1-4, Rice Lake, WI 54868
Updated multifamily property with varied unit layouts and convenient pedestrian access to downtown services.
Property Size2,728 SF
Price / SF$128.30
Days on Market19
Property Features for 36 W Eau Claire Street 1-4
General Information
Standard status
Active
Size
2,728 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR, 2 x 1BR
Multifamily Units
4
Building Details
Year Built
1940
Buildings
1
Listing Agency:
Real Estate Solutions
(866) 619-7904
Listed By:
Casey Watters · License #5254290
Source:
Homcentric
Added: Aug 13
Changed: Aug 30
Last Checked: Aug 30 at 6:05PM
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 Real Estate Solutions
Investment Insights
Based on property information with market context.
This 2,728-square-foot quadplex contains four residential units: two apartments with two bedrooms each and two apartments with one bedroom each. Every unit includes a private bathroom. Interior remodeling has been completed, providing an updated configuration across the building.
The property is located at 36 W Eau Claire Street, one block from Main Street in Rice Lake. Downtown, grocery stores, schools, shopping, dining, and other daily amenities are within walking distance. The electrical system was fully rewired in 2022, while the siding and roof were replaced after the 2023 hailstorms.
The property is located at 36 W Eau Claire Street, one block from Main Street in Rice Lake. Downtown, grocery stores, schools, shopping, dining, and other daily amenities are within walking distance. The electrical system was fully rewired in 2022, while the siding and roof were replaced after the 2023 hailstorms.
Key Highlights
- Four‑unit building with two 2‑bedroom units and two 1‑bedroom units
- Each unit includes a private bathroom
- 2,728 SF property with remodeled interiors
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
$12,063
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
3.45%
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%
$241,260
$241.3K
Cap Rate 7%
$172,329
$172.3K
Cap Rate 9%
$134,033
$134.0K
Market Conditions
NOI Build-Up for 2,728 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
$18.3K $6.72/SF
− Vacancy
−$1.1K −$0.40/SF
EGI
$17.2K $6.32/SF
− OpEx
−$5.2K −$1.90/SF
NOI
$12.1K $4.42/SF
Area
Barron County, WI
Vacancy
6.00%
Lease Rate
$6.72 /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%
$241,260
Cap Rate 7%
$172,329
Cap Rate 9%
$134,033
Alternative Uses
Best Use
Multifamily LT 5
$172.3K
$150.8K – $201.1K
NOI $12,063 @ 7.0% cap · market cap 3.45%
Second Best
Apartment 5plus
$162.1K
$141.9K – $189.1K
NOI $11,348 @ 7.0% cap · market cap 3.24%
Theoretical Best
Warehouse
$2.19M
$1.92M – $2.56M
NOI $153,431 @ 7.0% cap · market cap 43.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
537
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 Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated multifamily property with varied unit layouts and convenient pedestrian access to downtown services.
Where is this quadplex located?
The property is located at 36 W Eau Claire Street 1-4 Rice Lake, WI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Four‑unit building with two 2‑bedroom units and two 1‑bedroom units; Each unit includes a private bathroom; 2,728 SF property with remodeled interiors
