Multi-Section Storefront
For Sale
$438,000
7502 Hwy 51, Minocqua, WI 54548
Flexible commercial layout supports multiple businesses or office users within one freestanding property.
Property Size4,288 SF
Price / SF$104.29
Days on Market53
Property Features for 7502 Hwy 51
General Information
Standard status
Active
Size
4,288 SF
Property subtype
Commercial
Site & Location
Traffic Count
9,400 vehicles/day
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,970
Amenities
grand entry
wood burning fieldstone fireplace
reception area
overhead delivery door
ample gravel parking area
sidewalks
individually metered
Building Details
Building Size
4,288 SF
Year Built
1983
Buildings
1
Units
2
Listing Agency:
Redman Realty Group, LLC
(715) 892-7325
Listed By:
Adam Redman · License #56355 - 90
(715) 892-7325
Source:
Northwoodswi
Added: Jun 26
Changed: Aug 14
Last Checked: Aug 16 at 3:51PM
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 Redman Realty Group, LLC
Investment Insights
Based on property information with market context.
This freestanding storefront property contains more than 4,200 square feet arranged across a central entry and two approximately 2,000-square-foot wings. The entrance includes a reception area and a wood-burning fieldstone fireplace. Three building sections are separately metered, allowing the property to accommodate multiple businesses or offices. An overhead delivery door serves the rear, while gravel parking and sidewalks support day-to-day access.
The property includes two tax parcels at 7502 Hwy 51 in Minocqua, Wisconsin, with 200 feet of frontage along US Hwy 51. The corridor records a daily average of 9,400 vehicles. Constructed in 1983, the building offers a distinctive commercial setting with functional separation between its interior sections.
The property includes two tax parcels at 7502 Hwy 51 in Minocqua, Wisconsin, with 200 feet of frontage along US Hwy 51. The corridor records a daily average of 9,400 vehicles. Constructed in 1983, the building offers a distinctive commercial setting with functional separation between its interior sections.
Key Highlights
- More than 4,200 square feet with a central entry and two approximately 2,000 square‑foot wings
- 200' of Hwy 51 frontage across two tax parcels
- Daily average traffic of 9,400 vehicles on the US Hwy 51 corridor
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
$37,799
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
8.63%
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%
$755,980
$756.0K
Cap Rate 7%
$539,986
$540.0K
Cap Rate 9%
$419,989
$420.0K
Market Conditions
NOI Build-Up for 4,200 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
$55.4K $13.20/SF
− Vacancy
−$1.4K −$0.34/SF
EGI
$54.0K $12.86/SF
− OpEx
−$16.2K −$3.86/SF
NOI
$37.8K $9.00/SF
Area
Oneida County, WI
Vacancy
2.60%
Lease Rate
$13.20 /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%
$755,980
Cap Rate 7%
$539,986
Cap Rate 9%
$419,989
Alternative Uses
Best Use
Retail
$540.0K
$472.5K – $630.0K
NOI $37,799 @ 7.0% cap · market cap 8.63%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$1.97M
$1.72M – $2.29M
NOI $137,606 @ 7.0% cap · market cap 31.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9,400 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54548, WI
5,406
Population
5,096
Households
1.1
Avg Household Size
56
Median Age
36%
College-Educated
96%
High-School Grad
99.0 sq mi
ZIP Area
55
Density / Sq Mi
$69,784
Median Household Income
$42,378
Median Earnings
$935
Median Rent
$307,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Flexible commercial layout supports multiple businesses or office users within one freestanding property.
Where is this storefront property located?
The property is located at 7502 Hwy 51 Minocqua, WI.
What is the asking price?
The asking price for this property is $438,000.
What are key features of this property?
This property features: More than 4,200 square feet with a central entry and two approximately 2,000 square‑foot wings; 200' of Hwy 51 frontage across two tax parcels; Daily average traffic of 9,400 vehicles on the US Hwy 51 corridor
