Medical Office Property with Extra
For Sale
$569,900
9758 W Lake Ave, Minocqua, WI 54548
Well-maintained healthcare-oriented office with municipal utilities, attic storage, signage, and a separate buildable parcel.
Property Size2,047 SF
Price / SF$278.41
Days on Market13
Property Features for 9758 W Lake Ave
General Information
Standard status
Active
Size
2,047 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Sprinkler System
Yes
Land Use
commercial, office
Amenities
large windows
wooded views
monument sign
alarm system
attic storage
center walkway
Building Details
Year Built
1980
Year Renovated
2003
Listing Agency:
Norwisrealty.Com LLC
(715) 965-1234
Listed By:
Kelly Weiler · License #43814
(715) 965-1234
Source:
Familytreerealtyllc
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 28 at 10:18AM
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 Norwisrealty.Com LLC
Investment Insights
Based on property information with market context.
This medical office property includes a 2,047-square-foot building completed in 1980 and expanded and remodeled in 2003. Large windows bring wooded views into the interior, while attic storage is accessible from a central walkway. The property also includes a prominent monument sign, underground sprinkler system, municipal water and sewer, and an alarm system.
The offering includes a separate buildable lot across the street with a storage shed and dumpster area. The additional parcel may support future development, parking, storage, redevelopment, or independent resale, as described in the property information. The building is suited to healthcare providers and other professional office uses, including financial, legal, therapy, insurance, and service operations.
The offering includes a separate buildable lot across the street with a storage shed and dumpster area. The additional parcel may support future development, parking, storage, redevelopment, or independent resale, as described in the property information. The building is suited to healthcare providers and other professional office uses, including financial, legal, therapy, insurance, and service operations.
Key Highlights
- 2,047 SF medical office building completed in 1980 and expanded and remodeled in 2003
- Separate buildable lot across the street included in the offering
- Large windows with wooded views and attic storage accessed by a center walkway
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
$23,699
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
4.16%
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%
$473,980
$474.0K
Cap Rate 7%
$338,557
$338.6K
Cap Rate 9%
$263,322
$263.3K
Market Conditions
NOI Build-Up for 2,047 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
$49.1K $24.00/SF
− Vacancy
−$9.6K −$4.70/SF
EGI
$39.5K $19.30/SF
− OpEx
−$15.8K −$7.72/SF
NOI
$23.7K $11.58/SF
Area
Oneida County, WI
Vacancy
19.60%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$473,980
Cap Rate 7%
$338,557
Cap Rate 9%
$263,322
Alternative Uses
Best Use
Healthcare Medical
$338.6K
$296.2K – $395.0K
NOI $23,699 @ 7.0% cap · market cap 4.16%
Second Best
Office B
$250.0K
$218.8K – $291.7K
NOI $17,502 @ 7.0% cap · market cap 3.07%
Theoretical Best
Industrial
$958.1K
$838.3K – $1.12M
NOI $67,066 @ 7.0% cap · market cap 11.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
336
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 54548, WI
5,406
Population
5,096
Households
1.1
Avg Household Size
56
Median Age
36%
College-Educated
96%
High-School Grad
99.0 sq mi
ZIP Area
55
Density / Sq Mi
$69,784
Median Household Income
$42,378
Median Earnings
$935
Median Rent
$307,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Northwoods Animal Hospital — 8687 S Blumenstein Rd, Minocqua, WI 54548
Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained healthcare-oriented office with municipal utilities, attic storage, signage, and a separate buildable parcel.
Where is this medical office space located?
The property is located at 9758 W Lake Ave Minocqua, WI.
What is the asking price?
The asking price for this property is $569,900.
What are key features of this property?
This property features: 2,047 SF medical office building completed in 1980 and expanded and remodeled in 2003; Separate buildable lot across the street included in the offering; Large windows with wooded views and attic storage accessed by a center walkway
