Mixed-Use Property with Seven Income
For Sale
$499,000
431 S Main St, Rice Lake, WI 54868
Four leased commercial spaces are paired with three rented apartments in a versatile mixed-use property.
Property Size3,508 SF
Price / SF$142.25
Days on Market48
Property Features for 431 S Main St
General Information
Standard status
Active
Size
3,508 SF
Listing Agency:
Real Estate Solutions
Listed By:
Casey Watters · License #52542-90
(866) 619-7904
Source:
Homcentric
Added: Sep 16
Changed: Oct 25
Last Checked: Oct 5 at 9:05PM
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
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Investment Insights
Based on property information with market context.
This mixed-use property contains 3,508 square feet and combines commercial and residential occupancy in one building. Four commercial spaces are fully leased and can accommodate storefront or office use, while three apartments are rented and each includes two bedrooms and one bathroom. The property produces seven separate income streams across its commercial and residential components.
Located at 431 S Main St in Rice Lake, Wisconsin, the property occupies a corner along the main street with frontage visible from multiple directions. A detached two-car garage provides parking or additional tenant storage. The combination of leased commercial space, occupied apartments, and accessory garage space creates a property with both retail-oriented and residential income components.
Located at 431 S Main St in Rice Lake, Wisconsin, the property occupies a corner along the main street with frontage visible from multiple directions. A detached two-car garage provides parking or additional tenant storage. The combination of leased commercial space, occupied apartments, and accessory garage space creates a property with both retail-oriented and residential income components.
Key Highlights
- 3,508‑square‑foot mixed‑use property at 431 S Main St
- Seven income streams from four commercial spaces and three apartments
- Four fully leased commercial spaces suited to storefront or office use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,593
Cap Rate
2.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$291,860
$291.9K
Cap Rate 7%
$208,471
$208.5K
Cap Rate 9%
$162,144
$162.1K
Market Conditions
NOI Build-Up for 3,508 SF
Gross rent
$27.8K $7.92/SF
− Vacancy
−$1.3K −$0.36/SF
EGI
$26.5K $7.56/SF
− OpEx
−$11.9K −$3.40/SF
NOI
$14.6K $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%
$291,860
Cap Rate 7%
$208,471
Cap Rate 9%
$162,144
Alternative Uses
Best Use
Mixed Use
$691.6K
$605.1K – $806.8K
NOI $48,410 @ 7.0% cap · market cap 9.70%
Second Best
Apartment 5plus
$208.5K
$182.4K – $243.2K
NOI $14,593 @ 7.0% cap · market cap 2.92%
Theoretical Best
Warehouse
$2.82M
$2.47M – $3.29M
NOI $197,301 @ 7.0% cap · market cap 39.54%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four leased commercial spaces are paired with three rented apartments in a versatile mixed-use property.
Where is this mixed-use property located?
The property is located at 431 S Main St Rice Lake, WI.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 3,508‑square‑foot mixed‑use property at 431 S Main St; Seven income streams from four commercial spaces and three apartments; Four fully leased commercial spaces suited to storefront or office use
