Absolute NNN Medical
For Sale
Contact for pricing
Pending
840 Bear Paw Avenue, Rice Lake, WI 54868
Purpose-built healthcare facility completed in 2018 with a long-term lease and renewal options.
Property Size7,130 SF
Days on Market46
Property Features for 840 Bear Paw Avenue
General Information
Standard status
Pending
Size
7,130 SF
Class
C
Total Parking Spaces
45
Property subtype
Office
Additional Details
Cap Rate
7%
Building Details
Year Built
2018
Buildings
1
Stories
1
Tenancy
Single
Owner Occupied
No
Listing Agency:
Ultra Commercial Realty
Listed By:
Amber Cernohous · License #60261 - 90
Source:
Crexi
Added: Jul 31
Changed: Aug 14
Last Checked: Sep 13 at 5:54AM
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 Ultra Commercial Realty
Investment Insights
Based on property information with market context.
This 7,130-square-foot medical office property at 840 Bear Paw Avenue in Rice Lake, Wisconsin, was completed in 2018 as a purpose-built healthcare facility. The property is occupied by medical providers and is configured as a single-tenant asset under an absolute NNN lease.
The current lease runs through May 31, 2031, and includes two additional five-year renewal options. The lease structure assigns responsibility for taxes, insurance, maintenance, and capital expenditures to the tenant. The property is offered at a 7.00% capitalization rate and provides a modern medical-use building with defined lease terms and an established healthcare occupancy.
The current lease runs through May 31, 2031, and includes two additional five-year renewal options. The lease structure assigns responsibility for taxes, insurance, maintenance, and capital expenditures to the tenant. The property is offered at a 7.00% capitalization rate and provides a modern medical-use building with defined lease terms and an established healthcare occupancy.
Key Highlights
- 7,130 SF medical office property completed in 2018
- Absolute NNN lease structure
- Lease term extends through May 31, 2031
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
$73,577
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
4.09%
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%
$1,471,540
$1.5M
Cap Rate 7%
$1,051,100
$1.1M
Cap Rate 9%
$817,522
$817.5K
Market Conditions
NOI Build-Up for 7,130 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
$125.8K $17.64/SF
− Vacancy
−$27.7K −$3.88/SF
EGI
$98.1K $13.76/SF
− OpEx
−$24.5K −$3.44/SF
NOI
$73.6K $10.32/SF
Area
Barron County, WI
Vacancy
22.00%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
25.00%
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%
$1,471,540
Cap Rate 7%
$1,051,100
Cap Rate 9%
$817,522
Alternative Uses
Best Use
Office B
$1.05M
$919.7K – $1.23M
NOI $73,577 @ 7.0% cap · market cap 4.09%
Second Best
Healthcare Medical
$1.01M
$885.6K – $1.18M
NOI $70,844 @ 7.0% cap · market cap 3.94%
Theoretical Best
Warehouse
$5.73M
$5.01M – $6.68M
NOI $401,013 @ 7.0% cap · market cap 22.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54868, WI
15,785
Population
7,640
Households
2.1
Avg Household Size
44
Median Age
25%
College-Educated
94%
High-School Grad
212.0 sq mi
ZIP Area
74
Density / Sq Mi
$64,567
Median Household Income
$40,474
Median Earnings
$850
Median Rent
$199,300
Median Home Value
Check the figures for this property
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?
Medical Office Space - Purpose-built healthcare facility completed in 2018 with a long-term lease and renewal options.
Where is this medical office space located?
The property is located at 840 Bear Paw Avenue Rice Lake, WI.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 7,130 SF medical office property completed in 2018; Absolute NNN lease structure; Lease term extends through May 31, 2031
