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    Rare 40-Acre Waterfront Land Title is generated by Realmo AI

    Leonard Road, Stone Lake, WI 54876

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    For Sale
    $350,000

    LAND - Stone Lake, WI

    Lot size:
    40.00 Acres
    Added:
    May 15, 2026
    Days on Market:
    4
    Last Refresh:
    May 18 at 12:06 pm

    Property Features for Leonard Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Wooded
    Standard status
    Active
    APN
    650102381030204000001000
    Lot size
    40.00 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    SE NW FRL1/4 DOC# 310967 ESMT DOC# 386542 COR
    Tax Annual Amount
    555

    Utilities

    Water front features
    Lake
    Water front
    1

    We can help!

    Listing Contact
    Donnie Marker
    Donnie Marker

    Listing agent Donnie Marker License #83272-94

    Listing office Dane Arthur Real Estate Agency/Birchwood 105 Hwy 48 PO Box 155, Birchwood, WI

    Listing date May 15, 2026

    MLS# 1600867 Listing URL

    Copyright © 2026 REALTORS® Association of Northwestern Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 40‑acre parcel with 1,400 feet of low‑elevation frontage on Long Lake's Mud Lake Channel.
    • Unmatched privacy and spectacular sunset views in a Northwoods setting.
    • Multiple premier building sites with ideal walkout basement elevations.
    • Established trails for walking or ATV riding through rolling terrain with abundant wildlife.
    • Access to Long Lake's 19 miles of fishing and boating, plus nearby amenities.
    • Year‑round recreation with snowmobiling and ATV trails directly accessible from the property.

    Overview

    This 40-acre parcel offers approximately 1,400 feet of low-elevation frontage on the Mud Lake Channel of Long Lake. The property provides privacy in a Northwoods setting and is positioned for sunset views. Multiple building sites offer walkout basement elevations. Established trails wind through rolling terrain with mature trees, with abundant wildlife including deer, turkey, and bear. Access is via a canopied drive along a quiet road. Long Lake offers 19 miles of fishing and boating, undeveloped shoreline, sandbars, marinas, boat-up restaurants, and a nearby golf course. Snowmobiling and ATV trails are accessible from the property, making it suitable for year-round recreation.
    Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Stone Lake
    County
    Sawyer
    State
    Wisconsin
    Longitude
    -91.5263
    Latitude
    45.8127

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    FAQs

    What type of property is this?
    Land - Exceptional 40-acre parcel with 1,400 feet of low-elevation frontage.
    Where is this land located?
    The property is located at Leonard Road Stone Lake, WI.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: 40‑acre parcel with **1,400 feet of low‑elevation frontage** on Long Lake's Mud Lake Channel.; Unmatched privacy and **spectacular sunset views** in a Northwoods setting.; Multiple premier building sites with ideal walkout basement elevations.
    (715) 520-2047
    We can help!
    Listing Contact
    Donnie Marker
    Donnie Marker
    Real Estate License ID: 83272-94
    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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