Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    424 1St St Merrill, WI 54452
    Back to Search
    Property profile & analytics

    424 1St St, Merrill, WI 54452

    View on Map
    • Specialty properties
    • 5,784 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • DEDICATED MOTORS LLC / Auto Repair Shop

    Property Details for 424 1St St

    Property type
    Specialty properties
    Property subtype
    Land

    Description

    This exceptional 5,784 square foot commercial property, located at 424 E 1st Street in Merrill, Wisconsin, presents a unique investment opportunity. Currently configured as an auto repair shop with a long-standing presence in the community and established customer base, this property offers significant potential for a variety of uses. The building boasts over 5,000 square feet of shop space, conveniently equipped with two overhead doors for easy access and ample room for vehicles and equipment. An existing office/reception area provides a dedicated space for administrative tasks and client interaction. The asking price is $650,000. The property's well-maintained condition and prime location in Lincoln County, Wisconsin, zip code 54452, make it an attractive prospect for entrepreneurs seeking to establish or expand their business. The existing tools and technology within the shop are available for separate purchase, offering a seamless transition for a new owner. This is a rare chance to acquire a turn-key operation in a thriving community, ideal for those looking to own their own business and benefit from an existing customer base. The property is available for lease or purchase.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Merrill
    County
    Lincoln
    State
    Wisconsin
    Longitude
    -89.6942
    Latitude
    45.18

    Comparable in this City

    • Value Estimation by Request
      0.06 Acres

      801 1St St

      Land
      801 1St St, Merrill, WI 54452
      View Details
    • Value Estimation by Request
      3,960 SF

      3456 Main St

      Automotive properties
      3456 Main St, Merrill, WI 54452
      View Details
    • Value Estimation by Request
      8.03 Acres

      Pope Rd

      Farms
      0 Pope Rd, Merrill, WI 54452
      View Details
    • Value Estimation by Request
      6.32 Acres

      Wi-64

      Land
      0 Wi-64, Merrill, WI 54452
      View Details
    • Value Estimation by Request
      2.02 Acres

      Main St

      Land
      0 Main St, Merrill, WI 54452
      View Details
    • Value Estimation by Request

      N1683 Country Rd

      Farms
      N1683 Country Rd, Merrill, WI 54452
      View Details

    Similar Nearby for Sale

    • $240,000
      48.60 Acres

      Merrill, WI Land For Sale

      Two parcels totaling 48.6 acres with open field and woods.
      JJ 48.6 Acres County Rd, Merrill, WI 54452
      View Details
    • $199,900
      6.32 Acres

      Merrill, WI Commercial Land - $199,900

      6.32 Acres, Hwy 64 Frontage, Development Potential
      0 Wi-64, Merrill, WI 54452
      View Details
    • $175,500
      74.65 Acres

      Forested Land on Hwy 64

      74.65 acres of forestland east of Merrill, Wisconsin.
      On Hwy 64, Merrill, WI 54452
      View Details
    • $239,000

      Wooded Land Near Merrill

      31.359 acre wooded building lot south of Merrill.
      1-2 Creek Ave, Merrill, WI 54452
      View Details
    • $300,000
      2.02 Acres

      Merrill Commercial Land - $300K

      Prime Commercial Lot, Highway 51 Visibility
      0 Main St, Merrill, WI 54452
      View Details
    • $196,725
      80.00 Acres

      80 Acres of Forestland

      80 acres of forestland located near Merrill, Wisconsin.
      On Hwy 64, Merrill, WI 54452
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    424 1St St
    Merrill, WI 54452
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    424 1St St, Merrill, WI, 54452
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!