Renovated Building on High-Exposure
For Sale
Contact for pricing
7601 US-51, Minocqua, WI 54548
Charming, renovated commercial building with US Hwy 51 frontage.
Property Size1,525 SF
Lot Size0.75 Acres
Price / SF$229.51
Days on Market161
Property Features for 7601 US-51
General Information
Standard status
Active
Size
1,525 SF
Lot size
0.75 Acres
Property subtype
Retail, Office
Zoning
Business B-2, Buyer to Verify
Building Details
Stories
1
Units
1
Listing Agency:
Redman Realty Group, LLC
(715) 892-7325
Listed By:
Adam Redman · License #WI
Source:
Crexi
Added: Mar 12
Changed: Aug 12
Last Checked: Aug 18 at 10:49AM
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 completely renovated and charming commercial building offers exceptional exposure on US Hwy 51. Situated on a wooded 0.75-acre parcel, the property features 166 feet of frontage on Hwy 51 and approximately 140 feet of frontage on Blue Lake Rd, providing direct ingress and egress access to Hwy 51. A significant and visible business sign is present on Hwy 51. The Town of Minocqua and DOT are in the process of installing a South-bound Blue Lake Rd turn lane to improve access. The extensively updated commercial building offers 1525 square feet of space, including 3 offices, a conference room or reception area, a kitchen, a full bath, and a bonus or storage room. Additional storage area and utilities are located in the partial basement. Recent updates include a new roof, siding, flooring, electrical, plumbing, kitchen, and bathroom. Spectrum Cable is available at the lot line. The property includes a drilled well and conventional septic system. Zoned B-2, the property offers potential for residential use as well.
Key Highlights
- Exceptional US Hwy 51 exposure with 166' frontage and direct ingress/egress access.
- Completely renovated commercial building featuring 3 offices, conference room/reception area, kitchen, and full bath.
- Significant and visible business sign on Hwy 51.
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
$13,725
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
3.92%
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%
$274,500
$274.5K
Cap Rate 7%
$196,071
$196.1K
Cap Rate 9%
$152,500
$152.5K
Market Conditions
NOI Build-Up for 1,525 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
$20.1K $13.20/SF
− Vacancy
−$523 −$0.34/SF
EGI
$19.6K $12.86/SF
− OpEx
−$5.9K −$3.86/SF
NOI
$13.7K $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%
$274,500
Cap Rate 7%
$196,071
Cap Rate 9%
$152,500
Alternative Uses
Best Use
Retail
$196.1K
$171.6K – $228.8K
NOI $13,725 @ 7.0% cap · market cap 3.92%
Second Best
Office B
$186.3K
$163.0K – $217.3K
NOI $13,039 @ 7.0% cap · market cap 3.73%
Theoretical Best
Industrial
$713.8K
$624.6K – $832.7K
NOI $49,964 @ 7.0% cap · market cap 14.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
83
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Charming, renovated commercial building with US Hwy 51 frontage.
Where is this retail space located?
The property is located at 7601 US-51 Minocqua, WI.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Exceptional US Hwy 51 exposure with 166' frontage and direct ingress/egress access.; Completely renovated commercial building featuring 3 offices, conference room/reception area, kitchen, and full bath.; Significant and visible business sign on Hwy 51.
