Rice Lake Automotive/Retail
For Sale
Contact for pricing
116 W Knapp St, Rice Lake, WI 54868
Remodeled building with blacktopped lots in high-traffic location.
Property Size3,436 SF
Price / SF$119.32
Days on Market670
Property Features for 116 W Knapp St
General Information
Standard status
Active
Size
3,436 SF
Property subtype
Retail
Zoning
C
Listing Agency:
Associated Realty LLC
(732) 581-8003
Listed By:
True Kucharski · License #59218-90
Source:
Crexi
Added: Oct 29, 2024
Changed: Aug 28
Last Checked: Aug 28 at 6:36PM
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 Associated Realty LLC
Investment Insights
Based on property information with market context.
This property presents an opportunity for establishing a new business or creating a satellite location. Previously used as a used car lot dealership, the site features a remodeled building and two recently blacktopped additional lots. Situated on the north side of Rice Lake on Knapp Street, the location benefits from a daily car count exceeding 9000. The building includes three offices, a large room suitable for multiple salespeople, two bathrooms, and a breakroom/kitchen area. It also contains one bay with 12-foot ceilings and a lift, along with two additional heated bays for mechanical needs. A new roof has been installed, and the furnace and A/C unit are approximately 3 years old. The sale includes all furniture, such as desks, chairs, and tables. The property is suitable for auto shops, automotive properties, retail spaces, parking lots, garages, and general commercial real estate.
Key Highlights
- Prime location on Knapp Street with high daily traffic count (over 9000 cars)
- Newly remodeled building with 3 offices, large sales area, 2 bathrooms, and breakroom/kitchen
- Includes 3 service bays: one with a 12‑foot ceiling and lift, plus two additional heated bays
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
$13,854
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
3.38%
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%
$277,080
$277.1K
Cap Rate 7%
$197,914
$197.9K
Cap Rate 9%
$153,933
$153.9K
Market Conditions
NOI Build-Up for 3,436 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
$20.6K $6.00/SF
− Vacancy
−$825 −$0.24/SF
EGI
$19.8K $5.76/SF
− OpEx
−$5.9K −$1.73/SF
NOI
$13.9K $4.03/SF
Area
Barron County, WI
Vacancy
4.00%
Lease Rate
$6.00 /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%
$277,080
Cap Rate 7%
$197,914
Cap Rate 9%
$153,933
Alternative Uses
Best Use
Industrial
$2.27M
$1.99M – $2.65M
NOI $159,148 @ 7.0% cap · market cap 38.82%
Second Best
Retail
$197.9K
$173.2K – $230.9K
NOI $13,854 @ 7.0% cap · market cap 3.38%
Theoretical Best
Warehouse
$2.76M
$2.42M – $3.22M
NOI $193,251 @ 7.0% cap · market cap 47.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
594
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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- K&H Power Sports — 616 W Eau Claire St, Rice Lake, WI 54868
- Kaiser Sales & Services — 504 W Knapp St, Rice Lake, WI 54868
- Mobile tint solutions — 211 W Knapp St, Rice Lake, WI 54868
- Rice Lake Cenex North, Car Care Center & Hardware Store — 924 Hammond Ave, Rice Lake, WI 54868
- Jason's Auto Repair — 1020 Hammond Ave, Rice Lake, WI 54868
Frequently Asked Questions
What type of property is this?
Auto shop - Remodeled building with blacktopped lots in high-traffic location.
Where is this auto shop located?
The property is located at 116 W Knapp St Rice Lake, WI.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Prime location on Knapp Street with high daily traffic count (over 9000 cars); Newly remodeled building with **3 offices, large sales area, 2 bathrooms, and breakroom/kitchen**; Includes **3 service bays**: one with a 12‑foot ceiling and lift, plus two additional heated bays
