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    W5922 Centerville Road Ogema, WI 54459

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    For Sale
    $309,000

    Farm / Farmhouse, Farm/Estate - Ogema, WI

    Type:Farm
    Property size:
    1,200 SF
    Lot size:
    40.00 Acres
    Price / SF:
    $257/SF
    Added:
    Apr 18, 2026
    Days on Market:
    12
    Last Refresh:
    Apr 29 at 8:06 pm

    Property Features for W5922 Centerville Road

    General Information

    Property type
    Farm
    Property subtype
    Farm
    Zoning
    300
    Bedrooms
    3
    Bathrooms
    1
    Rooms
    Basement, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Dining Room, Kitchen, Living Room
    Parking features
    Carport, Garage
    Basement Y/N
    1
    Standard status
    Active
    APN
    16386
    Size
    1,200 SF
    Lot size
    40.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    0

    Utilities

    Heating system
    Forced Air, Propane (Heating), Wood (Heating), Wood Stove

    Building Details

    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Adam Kielsmeier

    Listing agent Adam Kielsmeier

    Listing office BENNETT AUCTION SERVICE 1403 RAILROAD AVE, PRENTICE, WI

    Listing date Apr 18, 2026

    MLS# 11684874 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Secluded Homestead Ready for Country Life

    Located near a secluded dead-end road, this 40-acre homestead near Ogema, Wisconsin, is designed for self-sufficient living. The property is situated 2 miles from a state highway and 3 miles from Ogema, offering both privacy and convenience. The 1,200 square foot home includes 3 bedrooms, 1 bath, main-floor living, a washer and dryer hookup, and an accessibility ramp. It is equipped with a drilled well, a conventional septic system, a steel roof, a wood cookstove, a canning cellar, and a yard hand pump. Heating is provided by both an LP furnace and a wood furnace. The property features a 20-foot all-steel carport, a milk house with water hydrant, a garden potting shed, a drying shed, and a chicken coop. The 1,000 square foot barn includes an additional 1,000 square foot hay mow and two implement lean-to sheds. The land comprises approximately 4 acres of open field, an 8-acre tree plantation, and woods and lawn. Apple and plum trees are present on the property. A 256 square foot getaway or hunting cabin is located in the northern 20 acres of woods. This property is suitable for gardening, raising stock, and hunting.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Farms

    Suggested Use

    Storage Facility Bakery

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

    Location Insight

    • Map
    • Local Demand
    City
    Ogema
    County
    Price
    State
    Wisconsin
    Longitude
    -90.342617
    Latitude
    45.423761

    FAQs

    What type of property is this?
    Farm - 40-acre Ogema homestead with home, barn, and hunting cabin.
    Where is this farm located?
    The property is located at W5922 Centerville Road Ogema, WI.
    What is the asking price?
    The asking price for this property is $309,000.
    What are key features of this property?
    This property features: 40‑acre homestead ideal for self‑sufficient living with open fields, tree plantation and woods.; **1200 sq ft, 3‑bedroom home with main‑floor living**, accessibility ramp, drilled well, and conventional septic.; Features a 1,000 sq ft barn with hay mow and implement lean‑tos, plus a steel carport, milk house, garden sheds, and chicken coop.
    (715) 657-0078
    We can help!
    Listing Contact
    Adam Kielsmeier
    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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