Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Corner Lot Redevelopment Opportunity Title is generated by Realmo AI

    201 N Center Ave, Merrill, WI 54452

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Two-story building on a corner lot with redevelopment potential.

    Type:Multifamily, Office, Retail
    Property size:
    6,049 SF
    Price / SF:
    $28/SF
    Added:
    Nov 15, 2024
    Days on Market:
    562
    Last Refresh:
    May 12 at 8:08 pm

    Property Features for 201 N Center Ave

    General Information

    Standard status
    Active
    Size
    6,049 SF
    Property subtype
    Multifamily, Office, Retail

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    T.J. Morice, SIOR

    Listing agent T.J. Morice, SIOR License #WI 89917-94

    Listing office NAI Pfefferle

    Listing date Nov 15, 2024

    Source Crexi

    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 NAI Pfefferle

    HighLights

    • High‑traffic corner lot location on a main thoroughfare
    • Land value use and demolition option
    • Potential for conversion into multi‑family housing
    • Spacious garage on the east side
    • Proximity to new A&W (north) and Walgreens (south)
    • Older architectural style

    Overview

    This two-story building features an older architectural style and is located on a corner lot on a main thoroughfare. The property offers a range of potential uses, including conversion into multi-family living, accommodating multiple business tenants, or serving as a redevelopment center. A spacious garage is located on the east side of the building. The property is situated between a new A&W to the north and a Walgreens to the south. The property has a land value use and demo option. The property size is 6049 square feet.
    Location Intelligence

    Current Use by Public Records

    Charles A. Sowieja D.D.S., ... Dental Office Advantage Insurance Services ... Insurance Agency Wellness Center/Nan Matthews Medical Clinic Hedlund Insurance Insurance Agency

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon 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
    Merrill
    County
    Lincoln
    State
    Wisconsin
    Longitude
    -89.6829361
    Latitude
    45.1828927

    Nearby Similar for Sale

    • $250,000
      2,004 SF

      Turn-Key Restaurant Opportunity in Merrill

      Established restaurant on a 0.71-acre corner lot.
      900 N CENTER AVENUE, Merrill, WI 54452
      View Details
    • $695,000
      74,000 SF

      74,000 SF Manufacturing/Warehouse Space

      Large manufacturing/warehouse space with office and conference areas.
      410 DOUGLAS ST, , WI 54452
      View Details
    • $220,800
      3,600 SF

      Merrill, WI Multifamily Property

      Four-unit multifamily property near amenities in Merrill, Wisconsin.
      200 E 3RD STREET, Merrill, WI 54452
      View Details
    • $314,900
      976 SF

      New Deluxe Duplex Under Construction

      New construction duplex with modern amenities, completion expected May 2026.
      305 S KYES STREET, Merrill, WI 54452
      View Details
    • $314,900
      976 SF

      New Duplex Under Construction

      New two-bedroom duplex with modern amenities, expected completion May 2026.
      309 S KYES STREET, Merrill, WI 54452
      View Details
    • $139,900

      Merrill Commercial Property For Sale

      Commercial property in prime location with business included.
      1325 MAIN ST W, Merrill, WI 54452
      View Details
    • $249,900

      Updated Duplex in Merrill, WI

      Updated duplex with two 3-bedroom units and a 2-car garage.
      501 E 9TH STREET, Merrill, WI 54452
      View Details
    • $489,900

      Established Bar and Grill Opportunity

      Well-established bar and grill with living quarters in Merrill, WI.
      705 4TH ST N, Merrill, WI 54487
      View Details
    • $154,900

      Income-Producing Duplex in Merrill, WI

      Duplex with long-term tenants in convenient Merrill location.
      108 W 3RD STREET, Merrill, WI 54452
      View Details
    • $1,536,585
      11,840 SF

      Caliber Collision Investment Opportunity

      Single-tenant property with long-term lease and corporate guarantor.
      2602 E Main St, Merrill, WI 54452
      View Details
    • $274,900
      20,000 SF

      Merrill Retail/Office Building For Sale

      Well-kept 20,000 SF building with retail and office potential.
      1021 MAIN ST E, Merrill, WI 54452
      View Details
    • $329,900

      Updated Multi-Family Home in Merrill

      Updated multi-family home with separate utilities in Merrill, Wisconsin.
      1322 W MAIN STREET, Merrill, WI 54452
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Two-story building on a corner lot with redevelopment potential.
    Where is this mixed-use property located?
    The property is located at 201 N Center Ave Merrill, WI.
    What is the asking price?
    The asking price for this property is $175,000.
    What are key features of this property?
    This property features: High‑traffic corner lot location on a main thoroughfare; Land value use and demolition option; Potential for conversion into multi‑family housing
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    T.J. Morice, SIOR
    Real Estate License ID: WI 89917-94
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    201 N Center Ave, Merrill, WI 54452
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!