Building Details

Buildings 1

Stories 3

Building Size 3,120 SF

Listing Agency: REDMAN REALTY GROUP, LLC

Listed By: Guy Polacek · License #42584 Show Phone

Source: Dreamnorthre

Added: Sep 9 Changed: Oct 25 Last Checked: Oct 24 at 2:12PM

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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

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Investment Insights

Based on property information with market context.

This three-floor mixed-use property contains 3,120 square feet with a 3 Bed 3 Bath layout, full basement, loft, and multiple office areas. Interior features include hardwood floors, a stone fireplace, and Viking appliances. The building can function as commercial space or a residence, with room at the rear of the property for additional garage space.

Positioned along Hwy 51 South at 7563 Hwy 51, the property includes a 6x10 lighted sign facing the highway. The 0.68-acre site is approximately 3 miles from Downtown Minocqua, in an area described as having new business development. Business zoning supports contractors, professional office use, home-based office operations, rental use, Airbnb, or live-work occupancy.

Key Highlights

• 3,120‑square‑foot building with three floors
• 3 Bed 3 Bath layout with full basement and loft
• Multiple office areas with hardwood floors and stone fireplace

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,676

Cap Rate

5.39%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$533,520 $533.5K

Cap Rate 7%

$381,086 $381.1K

Cap Rate 9%

$296,400 $296.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,120 SF

Gross rent

$46.8K $15.00/SF

− Vacancy

−$11.2K −$3.60/SF

EGI

$35.6K $11.40/SF

− OpEx

−$8.9K −$2.85/SF

NOI

$26.7K $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%

$533,520

Cap Rate 7%

$381,086

Cap Rate 9%

$296,400

Alternative Uses

Best Use

Office B

$381.1K

$333.5K – $444.6K (±1% cap)

NOI $26,676 @ 7.0% cap · market cap 5.39%

Second Best

Mixed Use

$328.5K

$287.5K – $383.3K (±1% cap)

NOI $22,998 @ 7.0% cap · market cap 4.65%

Theoretical Best

Industrial

$1.46M

$1.28M – $1.70M (±1% cap)

NOI $102,221 @ 7.0% cap · market cap 20.65%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Live-work space

Suggested Use

Top Pick HVAC Service Garden Center Storage Facility Real Estate Agency Kitchen & Bath Showroom Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

102

Businesses Nearby

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 Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Business zoning supports office, rental, home-based office, and live-work uses.

Where is this mixed-use property located?

The property is located at 7563 Hwy 51 Minocqua, WI.

What is the asking price?

The asking price for this property is $494,900.

What are key features of this property?

This property features: 3,120‑square‑foot building with three floors; 3 Bed 3 Bath layout with full basement and loft; Multiple office areas with hardwood floors and stone fireplace