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    616 HWY 51 Woodruff, WI 54568

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    Claim this Listing
    For Sale
    Under Contract
    $449,000

    COMMERCIAL - Woodruff, WI

    Lot size:
    0.34 Acres
    Added:
    Nov 14, 2025
    Days on Market:
    173
    Last Refresh:
    May 6 at 4:06 am

    Property Features for 616 HWY 51

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    1
    Rooms
    Bathroom 1
    Parking features
    Driveway
    Security features
    Security
    Interior features
    Storage
    Standard status
    Active Under Contract
    APN
    WR-706
    Lot size
    0.34 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Doc 664262/595925 HELEN BRODOCK'S REPLAT LOT 10 BLK B & E SM A942 & B8009 EXC TPP #1170-19-21-4.06; PT PCL 44 (WR 2682)
    Tax Annual Amount
    1931

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Floors in Building
    1
    Flooring type
    Laminate, Carpet
    Building materials
    Frame, VinylSiding
    Roof type
    Shingle, Composition
    Additional Structures
    Storage

    We can help!

    Listing Contact
    DAVID ELIASON
    DAVID ELIASON

    Listing agent DAVID ELIASON License #49853 - 90

    Listing office ELIASON REALTY - EAGLE RIVER 325 W Pine St P.O. Box 284, Eagle River, WI

    Listing date Nov 14, 2025

    MLS# 215064

    Copyright © 2026 Greater Northwoods MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Woodruff Office Space on Hwy

    This commercial property is located on Hwy 51 in Woodruff, Wisconsin. The Class A office space features 972 square feet on the main level, along with an unfinished 972-square-foot lower level suitable for storage. The property benefits from high visibility with 117 feet of frontage and exposure to approximately 15,000 vehicles per day. There are 11+ blacktop parking spaces for customer and employee access. The interior includes a welcoming lobby/waiting area, a reception desk area, and three private offices. A convenient kitchenette is located just off the main workspace. The space was extensively remodeled in 2015 with quality finishes, including 3-panel solid doors, rich custom trim, wainscoting, and fresh paint. Furniture is included. Spectrum Business Wi-Fi and 5G service are available. The property is situated across from a well-known business. The lot size is 0.34 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Woodruff
    County
    Oneida
    State
    Wisconsin
    Longitude
    -89.6973181
    Latitude
    45.8972067

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    FAQs

    What type of property is this?
    Office units - Class A office space with high visibility and parking.
    Where is this office units located?
    The property is located at 616 HWY 51 Woodruff, WI.
    What is the asking price?
    The asking price for this property is $449,000.
    What are key features of this property?
    This property features: Prime commercial location on Hwy 51 with high visibility and 117' of frontage; High traffic exposure: approximately 15,000 vehicles per day; Class A office space: 972 sq ft main level plus 972 sq ft unfinished lower level
    (715) 493-9141
    We can help!
    Listing Contact
    DAVID ELIASON
    DAVID ELIASON
    Real Estate License ID: 49853 - 90
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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