Flex Space with
For Sale
$470,000
701 Washington St, Rhinelander, WI 54501
B3 General Use property combines office, shop, training, garage, and residential components in one adaptable building.
Property Size5,000 SF
Price / SF$94
Days on Market120
Property Features for 701 Washington St
General Information
Standard status
Active
Size
5,000 SF
Zoning
B3 General Use
Warehouse & Industrial
Clear Height
12.3 ft
Drive-In Doors
3
Taxes and HOA fees
Annual Taxes
$3,279
Building Details
Buildings
1
Stories
2
Building Size
5,000 SF
Listing Agency:
FIRST WEBER - RHINELANDER
(715) 365-3000
Listed By:
LINDA MOORE · License #1636
(715) 365-3074
Source:
Exprealty
Added: Jun 17
Changed: Oct 2
Last Checked: Oct 12 at 9:37PM
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 FIRST WEBER - RHINELANDER
Investment Insights
Based on property information with market context.
This 5,000-square-foot flex property combines commercial workspace with residential units. The main level includes offices, a reception area, restrooms, an open room suited to classroom or training functions, and garage/shop space. Ceiling height reaches 12 feet 4 inches, with two overhead doors measuring 18 feet by 11 feet and equipped with openers, plus an additional garage with a 10-foot by 10-foot door.
The upper level contains two newer apartments, including one one-bedroom unit and one two-bedroom unit. A coin-operated laundry area is also located on the second floor. The property is zoned B3 General Use, supporting its mixed commercial and residential configuration.
The upper level contains two newer apartments, including one one-bedroom unit and one two-bedroom unit. A coin-operated laundry area is also located on the second floor. The property is zoned B3 General Use, supporting its mixed commercial and residential configuration.
Key Highlights
- 5,000 SQ FT building with commercial and residential components
- B3 General Use zoning
- Two newer apartments: one 1 Bedroom and one 2 Bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,750
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$855,000
$855.0K
Cap Rate 7%
$610,714
$610.7K
Cap Rate 9%
$475,000
$475.0K
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$75.0K $15.00/SF
− Vacancy
−$18.0K −$3.60/SF
EGI
$57.0K $11.40/SF
− OpEx
−$14.3K −$2.85/SF
NOI
$42.8K $8.55/SF
Area
Oneida County, WI
Vacancy
24.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$855,000
Cap Rate 7%
$610,714
Cap Rate 9%
$475,000
Alternative Uses
Best Use
Industrial
$2.34M
$2.05M – $2.73M
NOI $163,816 @ 7.0% cap · market cap 34.85%
Second Best
Office B
$610.7K
$534.4K – $712.5K
NOI $42,750 @ 7.0% cap · market cap 9.10%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
12 ft
Clear height
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
236
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 54501, WI
20,591
Population
12,754
Households
1.6
Avg Household Size
48
Median Age
26%
College-Educated
96%
High-School Grad
366.3 sq mi
ZIP Area
56
Density / Sq Mi
$68,602
Median Household Income
$37,578
Median Earnings
$831
Median Rent
$194,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - B3 General Use property combines office, shop, training, garage, and residential components in one adaptable building.
Where is this flex space located?
The property is located at 701 Washington St Rhinelander, WI.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: 5,000 SQ FT building with commercial and residential components; B3 General Use zoning; Two newer apartments: one 1 Bedroom and one 2 Bedroom
