Farm Property With Remodeled
For Sale
$600,000
W9747 Cedar Rd, Fremont, WI 54940
Remodeled two-unit residence with extensive agricultural improvements, accessory buildings, private well, and conventional septic system.
Property Size2,516 SF
Price / SF$238.47
Days on Market40
Property Features for W9747 Cedar Rd
General Information
Standard status
Active
Size
2,516 SF
Property subtype
Farm/Estate
Amenities
Lot Size Acres: 18.57
Sewer Type: Private Septic
Total Taxes: $2,246, Tax Year: 2025, Percentage of Tax that is Deductable: 0
Garage Type: Detached, 2 Garage Spaces
Sale, Sale Type: Foreclosure
Driveway
School District: New London School District
Basement Type: Partial
4 Bedrooms
Residential Style: 2600, 2 Stories, Built in 1900
Property Township: Dale
Above Area Square Feet: 2516, Equestrian Property
2 Full Baths
Water Source: Private Well
Barn, Workshop, Shed, General Outbuilding
Construction Type: Frame
Building Details
Year Built
1900
Listing Agency:
Nolan Sales LLC
(715) 754-5221
Listed By:
Gerald Nolan
(800) 472-0290
Source:
Doyle-realty
Added: Jul 29
Changed: Sep 5
Last Checked: Sep 5 at 3:24PM
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 Nolan Sales LLC
Investment Insights
Based on property information with market context.
This 18.5-acre farm property includes a remodeled duplex with 2,516 square feet of living area. Each unit offers two bedrooms and a full bathroom; the upper unit also includes a kitchen, living room, and laundry room, while the main-level unit provides a remodeled kitchen, dining room, living room, and laundry room. The residence has a 3/4 basement with crawl space and gas forced-air heat.
Agricultural improvements include a 60'x105' steel machine shed, 22'x43' wood machine shed, 22'x36' two-story granary, and 40'x130' barn. A detached 24'x24' two-car garage is also included. The property has a drilled well and conventional septic system. Of the total acreage, 15.78 acres are identified as agricultural land, with the remainder consisting of pasture and the building site.
Agricultural improvements include a 60'x105' steel machine shed, 22'x43' wood machine shed, 22'x36' two-story granary, and 40'x130' barn. A detached 24'x24' two-car garage is also included. The property has a drilled well and conventional septic system. Of the total acreage, 15.78 acres are identified as agricultural land, with the remainder consisting of pasture and the building site.
Key Highlights
- 18.5‑acre farm property with a remodeled duplex
- Duplex contains two 2‑bedroom, 1‑bath units
- 15.78 acres identified as agricultural land
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
$16,797
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
2.80%
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%
$335,940
$335.9K
Cap Rate 7%
$239,957
$240.0K
Cap Rate 9%
$186,633
$186.6K
Market Conditions
NOI Build-Up for 2,516 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
$25.7K $10.20/SF
− Vacancy
−$1.7K −$0.66/SF
EGI
$24.0K $9.54/SF
− OpEx
−$7.2K −$2.86/SF
NOI
$16.8K $6.68/SF
Area
Waupaca County, WI
Vacancy
6.50%
Lease Rate
$10.20 /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%
$335,940
Cap Rate 7%
$239,957
Cap Rate 9%
$186,633
Alternative Uses
Best Use
Multifamily LT 5
$240.0K
$210.0K – $280.0K
NOI $16,797 @ 7.0% cap · market cap 2.80%
Second Best
Apartment 5plus
$224.2K
$196.2K – $261.5K
NOI $15,692 @ 7.0% cap · market cap 2.62%
Theoretical Best
Office A
$471.3K
$412.4K – $549.8K
NOI $32,989 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 54940, WI
4,219
Population
2,142
Households
2
Avg Household Size
50
Median Age
26%
College-Educated
95%
High-School Grad
90.5 sq mi
ZIP Area
47
Density / Sq Mi
$87,900
Median Household Income
$50,699
Median Earnings
$980
Median Rent
$286,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Farm - Remodeled two-unit residence with extensive agricultural improvements, accessory buildings, private well, and conventional septic system.
Where is this farm located?
The property is located at W9747 Cedar Rd Fremont, WI.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 18.5‑acre farm property with a remodeled duplex; Duplex contains two 2‑bedroom, 1‑bath units; 15.78 acres identified as agricultural land
