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    156 High St New Richmond, WI 54017

    Sponsored
    For Lease
    $6 SF/Yr ($9,348 /Mo)

    New Richmond, WI: Office Suites Available

    Lot size:
    18,696 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    415
    This exceptional New Richmond, WI, property at 156 High St offers 18,696 square feet of creative office space in a single-story, Class B building constructed in 1950. The 1.15-acre lot features a park-like setting next to the Willow River, conveniently located near Subway and McDonald's. Multiple tenancy options are available, with a minimum divisible space of 1,955 square feet and a maximum contiguous space of 2,425 square feet. Currently, 4,380 square feet are vacant, distributed across three suites. Suite one, totaling 1,955 square feet, boasts hard laminate floors, exposed ceilings with track lighting, and expansive river views, ideal for retail, special use, or creative office space. Rent is $6.00 per square foot (PSF) base rent plus $4.50 PSF CAM, utilities included. Suite two offers 2,425 square feet, featuring hardwood floors (except for tile in the kitchen), a full kitchen, custom lighting, and individual HVAC controls. This space, currently set up as a cafe, is perfect for events or a coffee shop, renting for $6.00 PSF base rent plus $4.05 PSF estimated CAM/taxes, utilities included. Finally, Suite three, a 3,630-square-foot professional office space available January 2025, includes multiple private offices, a large conference room, a kitchen, private restrooms, and open space. Rent is $8.00 PSF base rent plus $4.00 PSF CAM (utilities included). The property includes 60 parking spaces and is zoned for Business Commercial (APN: 261-1177-95-100). All information is deemed reliable but not guaranteed and should be independently verified.

    Property Features for 156 High St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    18,696 SF
    Class
    B
    Total Rate
    9348

    Building Details

    Year Built
    1950
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    Available Space 2
    Size
    2,425 SF
    Rate per SF
    $8
    Space
    Suite 2- Professional Office Space
    Size
    3,630 SF
    Rate per SF
    $8
    Space
    1st - 1
    Size
    1,955 SF
    Rate per SF
    $6

    We can help!

    Listing Contact
    TJ Wilson
    TJ Wilson

    Learn more

    Property Insight Report

    HighLights

    • 18,696 SF single‑story Class B office building on a 1.15‑acre lot in New Richmond, WI.
    • Multiple suites available, ranging from 1,955 SF to 2,425 SF contiguous; 4,380 SF currently vacant.
    • Suite options include retail/creative office space with river views ($6.00 PSF base rent + $4.50 PSF CAM), a cafe space with full kitchen ($6.00 PSF base rent + $4.05 PSF CAM), and a 3,630 SF professional office suite ($8.00 PSF base rent + $4.00 PSF CAM). All utilities included.
    • 60 parking spaces; Business Commercial zoning (APN: 261‑1177‑95‑100).
    Property Profile Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    New Richmond
    County
    St. Croix
    State
    Wisconsin
    Longitude
    -92.5365865
    Latitude
    45.1230213

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    Nearby Similar for Lease

    • $12 SF/Yr
      4,862 SF

      Downtown Office/Retail Space Available

      Prime location with flexible layout options for office or retail.
      122-126 S Knowles Ave, New Richmond, WI 54017
      View Details
    • $11 SF/Yr
      4,052 SF

      Downtown Office/Retail Space Available Now

      4,052 SF office or retail space for lease.
      127 S Knowles Ave, New Richmond, WI 54017
      View Details
    • $6 SF/Yr
      3,630 SF

      Professional Office Space Available

      Professional office space featuring private offices, conference room, and kitchen.
      156 High St, New Richmond, WI 54017
      View Details
    • $12 SF/Yr
      3,050 SF

      Office Suite in Prime Location

      Spacious office suite with excellent visibility and included utilities.
      118 Homestead Dr, New Richmond, WI 54017
      View Details
    • $30 SF/Yr
      750 SF

      Creative Office Space Available Now

      750 square foot office suite available for rent.
      1477 S Knowles Ave, New Richmond, WI 54017
      View Details
    • Contact for pricing
      1,440 SF

      Office Space in New Richmond

      Office space available for lease in New Richmond, Wisconsin.
      1379 Carlson Ave, New Richmond, WI 54017
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      Prime New Richmond Office Suite

      Executive Office, 343 sq ft, Available Now
      1477 Knowles Ave, New Richmond, WI 54017
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    FAQs

    What type of property is this?
    Office space - New Richmond, WI: Office Suites Available
    Where is this office space located?
    The property is located at 156 High St New Richmond, WI.
    What is the lease rate?
    The lease rate is $6-$8 SF/Yr.
    What are key features of this property?
    This property features: 18,696 SF single-story Class B office building on a 1.15-acre lot in New Richmond, WI.; Multiple suites available, ranging from 1,955 SF to 2,425 SF contiguous; 4,380 SF currently vacant.; Suite options include retail/creative office space with river views ($6.00 PSF base rent + $4.50 PSF CAM), a cafe space with full kitchen ($6.00 PSF base rent + $4.05 PSF CAM), and a 3,630 SF professional office suite ($8.00 PSF base rent + $4.00 PSF CAM). All utilities included.
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    156 High St New Richmond, WI 54017
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    New Richmond, WI 54017
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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
    156 High St New Richmond, WI 54017
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    We can help!
    Listing Contact
    TJ Wilson
    TJ Wilson
    Real Estate License ID: WI 51122-90
    Learn more
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