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    923 LEMMA CREEK RD Woodruff, WI 54568

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    Claim this Listing
    For Sale
    $299,900

    COMMERCIAL - Woodruff, WI

    Lot size:
    0.31 Acres
    Added:
    Feb 18, 2026
    Days on Market:
    77
    Last Refresh:
    May 6 at 4:06 am

    Property Features for 923 LEMMA CREEK RD

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    2
    Rooms
    Bedroom 3, Bedroom 2, Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 1
    Parking features
    Driveway, Paved or Surfaced
    Standard status
    Active
    APN
    04001-0691-0007
    Lot size
    0.31 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    VILLAGE OF WOODRUFF LOT 2 & PT LOT 1 BLK B CSM V3 P673
    Tax Annual Amount
    1562

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Water source
    Public

    Building Details

    Floors in Building
    1
    Flooring type
    Carpet, Vinyl
    Building materials
    Brick, Frame, Stucco, WoodSiding
    Roof type
    Shingle, Composition

    We can help!

    Listing Contact
    PAT VAN HEFTY

    Listing agent PAT VAN HEFTY License #49511 - 90

    Listing office REDMAN REALTY GROUP, LLC 231 Oneida St PO Box 1287, Minocqua, WI

    Listing date Feb 18, 2026

    MLS# 215919

    Copyright © 2026 Greater Northwoods MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Woodruff Duplex with Business Potential

    This property, zoned for general business, is currently used as a duplex with a strong rental history. Each side features 2 bedrooms and 1 bathroom, along with a kitchen, living area, and stacked laundry. Private entrances and a covered entry porch provide seasonal space, complemented by sheds and a spacious parking area. The units have updated kitchens and bathrooms, as well as updated electric, mechanicals, appliances, and a portion of the windows. A partial basement with a private entrance offers approximately 700 square feet of storage and workshop area and includes hook-ups for an additional bathroom. A doorway between the units allows for an alternate use as a 4-bedroom, 2-bathroom home. The property is located in a prime location near downtown Woodruff, one block off of Highway 51, and close to all town amenities. Multiple other business locations are nearby, providing good visibility. The 0.3132-acre lot presents opportunities for various business possibilities. The property can continue as a local rental or be adapted for new potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Woodruff
    County
    Oneida
    State
    Wisconsin
    Longitude
    -89.6982629
    Latitude
    45.8983884

    Nearby Similar for Sale

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    • $350,000

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    • $449,000

      Woodruff Office Space on Hwy

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      Spacious Mixed-Use Building in Woodruff

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    FAQs

    What type of property is this?
    Duplex - Duplex in prime location with strong rental history.
    Where is this duplex located?
    The property is located at 923 LEMMA CREEK RD Woodruff, WI.
    What is the asking price?
    The asking price for this property is $299,900.
    What are key features of this property?
    This property features: Zoned general business with strong rental history as a duplex.; Prime location near downtown Woodruff, 1 block off Hwy 51, with high visibility.; Updated kitchens and bathrooms in both units.
    (715) 892-0298
    We can help!
    Listing Contact
    PAT VAN HEFTY
    Real Estate License ID: 49511 - 90
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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