Short-Term Rental Property with Lake
For Sale
Contact for pricing
8372 East Flowage Lane, Gordon, WI 54838
Four furnished lodging units, RV sites, outbuildings, and operating rental infrastructure create a complete hospitality property.
Property Size3,700 SF
Lot Size1.25 Acres
Price / SF$168.92
Days on Market12
Property Features for 8372 East Flowage Lane
General Information
Standard status
Active
Size
3,700 SF
Class
A
Total Parking Spaces
22
Lot size
1.25 Acres
Property subtype
Multifamily, Hospitality
Zoning
RR1
Investment Type
Owner/User
Units
Unit Mix
2 x 3BR/1BA, 2 x 2BR/1BA
Multifamily Units
4
Additional Details
Furnished
Yes
Business Included
Yes
Utilities to Site
Yes
Amenities
docks
Building Details
Year Built
1970
Year Renovated
2023
Buildings
2
Stories
2
Units
4
Listing Agency:
Realty Executives Arizona Territory
(480) 399-2007
Listed By:
Christopher Adams · License #SA672809000
Source:
Crexi
Added: Aug 21
Changed: Aug 30
Last Checked: Aug 31 at 12:43PM
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 Realty Executives Arizona Territory
Investment Insights
Based on property information with market context.
This 3,700-square-foot vacation rental property includes a three-bedroom house, a three-bedroom primary cabin, and two two-bedroom cabins. Each lodging unit has its own living area and kitchen, while propane heating supports potential year-round operations. The property also includes three RV sites with 50-amp power, water, and buried septic holding tanks.
Set on 1.25 acres, the improvements include lake docks, a full-size two-car garage, an ATV garage, two sheds, and a lake deck and boardwalk. Cabin renovations completed over the last 4 years include windows, a metal roof, and a new 5,000-gallon septic tank. Furniture, linens, supplies, booking technology, websites, and related business accounts convey with the sale.
Set on 1.25 acres, the improvements include lake docks, a full-size two-car garage, an ATV garage, two sheds, and a lake deck and boardwalk. Cabin renovations completed over the last 4 years include windows, a metal roof, and a new 5,000-gallon septic tank. Furniture, linens, supplies, booking technology, websites, and related business accounts convey with the sale.
Key Highlights
- 1.25‑acre property with lake docks and a deck and boardwalk on the lake
- 3,700 SF of improvements with four lodging units
- Three RV sites with 50‑amp power, water, and buried septic holding tanks
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
$27,143
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
4.34%
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%
$542,860
$542.9K
Cap Rate 7%
$387,757
$387.8K
Cap Rate 9%
$301,589
$301.6K
Market Conditions
NOI Build-Up for 3,700 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
$51.9K $14.04/SF
− Vacancy
−$2.6K −$0.70/SF
EGI
$49.4K $13.34/SF
− OpEx
−$22.2K −$6.00/SF
NOI
$27.1K $7.34/SF
Area
Douglas County, WI
Vacancy
5.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
45.00%
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%
$542,860
Cap Rate 7%
$387,757
Cap Rate 9%
$301,589
Alternative Uses
Best Use
Apartment 5plus
$387.8K
$339.3K – $452.4K
NOI $27,143 @ 7.0% cap · market cap 4.34%
Second Best
Hotel Hospitality
$322.0K
$281.8K – $375.7K
NOI $22,540 @ 7.0% cap · market cap 3.61%
Theoretical Best
Specialty Retail
$1.17M
$1.02M – $1.36M
NOI $81,661 @ 7.0% cap · market cap 13.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
Explore this area
Business Placement
Demographics for 54838, WI
1,481
Population
1,685
Households
0.9
Avg Household Size
59
Median Age
29%
College-Educated
95%
High-School Grad
241.0 sq mi
ZIP Area
6
Density / Sq Mi
$75,000
Median Household Income
$39,554
Median Earnings
$917
Median Rent
$235,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Four furnished lodging units, RV sites, outbuildings, and operating rental infrastructure create a complete hospitality property.
Where is this short term rental property located?
The property is located at 8372 East Flowage Lane Gordon, WI.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 1.25‑acre property with lake docks and a deck and boardwalk on the lake; 3,700 SF of improvements with four lodging units; Three RV sites with 50‑amp power, water, and buried septic holding tanks
