Flex Space With
New
For Sale
$290,000
430 N Main St, Rice Lake, WI 54868
Commercial building with a dedicated garage area, overhead doors, and updated paved parking.
Property Size2,400 SF
Price / SF$120.83
Days on Market2
Property Features for 430 N Main St
General Information
Standard status
Active
Size
2,400 SF
Additional Details
Road Access
Yes
Building Details
Year Built
1950
Listing Agency:
Team Realty
Listed By:
Michael Anderson · License #7636794
(715) 234-1991
Source:
Homcentric
Added: Sep 6
Last Checked: Sep 7 at 11:17AM
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 Team Realty
Investment Insights
Based on property information with market context.
Constructed in 1950, this flex-space property includes a 28-by-42-foot garage/shop area suited to commercial operations requiring functional work or storage space. Two 10-by-10-foot overhead doors support vehicle and equipment access, while the updated blacktop parking area provides on-site circulation and parking.
The property is located at 430 N Main St in Rice Lake, Wisconsin, placing the building directly along North Main Street. Its combination of flexible commercial space, a dedicated shop area, overhead-door access, and updated parking supports a range of business uses without adding unsupported assumptions about occupancy or permitted operations.
The property is located at 430 N Main St in Rice Lake, Wisconsin, placing the building directly along North Main Street. Its combination of flexible commercial space, a dedicated shop area, overhead-door access, and updated parking supports a range of business uses without adding unsupported assumptions about occupancy or permitted operations.
Key Highlights
- 28‑by‑42‑foot garage/shop area
- Two 10‑by‑10‑foot overhead doors
- Updated blacktop parking area
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
$8,705
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
3.00%
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%
$174,100
$174.1K
Cap Rate 7%
$124,357
$124.4K
Cap Rate 9%
$96,722
$96.7K
Market Conditions
NOI Build-Up for 2,400 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
$14.4K $6.00/SF
− Vacancy
−$1.0K −$0.42/SF
EGI
$13.4K $5.58/SF
− OpEx
−$4.7K −$1.95/SF
NOI
$8.7K $3.63/SF
Area
Barron County, WI
Vacancy
7.00%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
35.00%
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%
$174,100
Cap Rate 7%
$124,357
Cap Rate 9%
$96,722
Alternative Uses
Best Use
Warehouse
$1.93M
$1.69M – $2.25M
NOI $134,983 @ 7.0% cap · market cap 46.55%
Second Best
Industrial
$1.59M
$1.39M – $1.85M
NOI $111,163 @ 7.0% cap · market cap 38.33%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
586
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Commercial building with a dedicated garage area, overhead doors, and updated paved parking.
Where is this flex space located?
The property is located at 430 N Main St Rice Lake, WI.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: 28‑by‑42‑foot garage/shop area; Two 10‑by‑10‑foot overhead doors; Updated blacktop parking area
