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    Property profile & analytics

    120 Meridian Dr New Richmond, WI 54017

    • Commercial real estate
    • 1.07 lot acres
    For Sale
    View listing
    $575,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0677588
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 120 Meridian Dr

    Lot size
    1.07 lot acres
    Property type
    Commercial real estate

    Description

    This 1.07-acre commercial land parcel presents a unique investment opportunity in New Richmond, Wisconsin. Located at 120 Meridian Dr, 54017, this property boasts a highly desirable location with strong traffic counts, making it ideal for a variety of commercial ventures. The site is characterized by its large size, offering ample space for development. While previously occupied by a gas station, the tanks remain in the ground. This presents both a challenge and an opportunity for a buyer with the vision and resources to repurpose the site. The property's strategic position near national retail tenants to the south further enhances its potential. The address is verified as 120 Meridian Dr, New Richmond, St. Croix County, Wisconsin, 54017. The asking price for this exceptional commercial land is $575,000. This property is zoned for commercial use and offers significant potential for growth and return on investment. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New Richmond
    County
    St. Croix
    State
    Wisconsin
    Longitude
    -92.5366823
    Latitude
    45.1076619

    Comparable in this City

    • $149,900
      Pending

      Residential Land in Somerset, WI

      3.22 acre residential lot with utilities nearby in Somerset.
      1653 85 St, Somerset, WI 54017
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    • $160,000
      4.74 Acres

      Agricultural Land Parcel For Sale

      4.74-acre parcel leased for agricultural use through 2025.
      100Th St, New Richmond, WI 54017
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    • $174,900
      4.12 Acres

      Land in Hillside Estates

      4.12 acre lot in a tranquil country setting.
      14 Xxx 74 St, New Richmond, WI 54017
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    • $145,000
      3.30 Acres

      Residential Land in New Richmond

      3.3 acre residential land for sale in New Richmond, WI.
      757 233Rd Ave, New Richmond, WI 54017
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    • $189,900
      3.08 Acres

      Residential Land with Wildlife Views

      3-acre residential lot near Stillwater Bridge and Hudson.
      726 160Th Ave, New Richmond, WI 54017
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    • $179,900
      3.08 Acres

      Residential Land in Hillside Estates

      3+ acre lot in Somerset school district with views.
      8 165 Ct, New Richmond, WI 54017
      View Details

    Similar Nearby for Sale

    • $149,900
      Pending

      Residential Land in Somerset, WI

      3.22 acre residential lot with utilities nearby in Somerset.
      1653 85 St, Somerset, WI 54017
      View Details
    • $160,000
      4.74 Acres

      Agricultural Land Parcel For Sale

      4.74-acre parcel leased for agricultural use through 2025.
      100Th St, New Richmond, WI 54017
      View Details
    • $174,900
      4.12 Acres

      Land in Hillside Estates

      4.12 acre lot in a tranquil country setting.
      14 Xxx 74 St, New Richmond, WI 54017
      View Details
    • $145,000
      3.30 Acres

      Residential Land in New Richmond

      3.3 acre residential land for sale in New Richmond, WI.
      757 233Rd Ave, New Richmond, WI 54017
      View Details
    • $189,900
      3.08 Acres

      Residential Land with Wildlife Views

      3-acre residential lot near Stillwater Bridge and Hudson.
      726 160Th Ave, New Richmond, WI 54017
      View Details
    • $179,900
      3.08 Acres

      Residential Land in Hillside Estates

      3+ acre lot in Somerset school district with views.
      8 165 Ct, New Richmond, WI 54017
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      4,862 SF

      Downtown Office/Retail Space Available

      Prime location with flexible layout options for office or retail.
      122-126 S Knowles Ave, New Richmond, WI 54017
      View Details
    • $28 SF/Yr
      343 SF

      Prime New Richmond Office Suite

      Executive Office, 343 sq ft, Available Now
      1477 Knowles Ave, New Richmond, WI 54017
      View Details
    • $12 SF/Yr
      3,050 SF

      Office Suite in Prime Location

      Spacious office suite with excellent visibility and included utilities.
      118 Homestead Dr, New Richmond, WI 54017
      View Details
    • $30 SF/Yr
      750 SF

      Creative Office Space Available Now

      750 square foot office suite available for rent.
      1477 S Knowles Ave, New Richmond, WI 54017
      View Details
    • $11 SF/Yr
      4,052 SF

      Downtown Office/Retail Space Available Now

      4,052 SF office or retail space for lease.
      127 S Knowles Ave, New Richmond, WI 54017
      View Details
    • $6 SF/Yr
      18,696 SF

      High St Creative Office Space

      New Richmond, WI: Office Suites Available
      156 High St, New Richmond, WI 54017
      View Details
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    120 Meridian Dr
    New Richmond, WI 54017
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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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