Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2253 Air Park Rd Rhinelander, WI 54501

    • Commercial real estate
    • 14.28 lot acres
    For Sale
    View listing
    $6,750,000
    Last Sale
    May 21, 2025
    $5,000,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-3271203
    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 2253 Air Park Rd

    Lot size
    14.28 lot acres
    Property type
    Commercial real estate
    APN
    RH 9012 0501
    APU
    RH90120501

    Description

    This exceptional commercial property, located at 2253 Air Park Road in Rhinelander, Wisconsin, presents a significant investment opportunity. The expansive 189,000 square foot industrial warehouse sits on a substantial 24.29-acre lot within the Rhinelander Industrial Park, offering unparalleled access to both air and rail transportation. The main building boasts impressive 17- to 32-foot high ceilings, providing ample vertical space for various industrial uses. Safety and security are ensured with a comprehensive sprinkler system and a state-of-the-art security system. Loading and unloading are streamlined with 24 dock doors. The warehouse is climate-controlled with forced air heating and air conditioning, and is fully insulated for optimal energy efficiency. A significant advantage is the inclusion of a Hytrol 3-level package distribution system, enhancing operational capabilities. The property also includes approximately 20,000 square feet of adaptable retail/office space and 9,000 square feet of cold storage, providing versatility for diverse business needs. City sewer and water services are readily available, along with high-speed internet access, ensuring seamless connectivity. This property is ideally suited for a wide range of industrial and logistical operations, offering a unique combination of size, location, and advanced features.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,340,000
      ML approach
      $3,165,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Rhinelander
    County
    Oneida
    State
    Wisconsin
    Longitude
    -89.4445
    Latitude
    45.6273

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $53,075
    $497,600
    $1,752,400
    $2,250,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.26 Acres

      Spring Rd

      Commercial real estate • 0.26 Acres
      Spring Rd, Rhinelander, WI 54501
      View Details
    • Value Estimation by Request
      2.86 Acres

      Rhinelander, WI 54501

      COMMERCIAL (GENERAL) • 2.86 Acres
      Rhinelander, WI 54501
      View Details
    • Value Estimation by Request
      2.51 Acres

      Rhinelander, WI 54501

      COMMERCIAL (GENERAL) • 2.51 Acres
      Rhinelander, WI 54501
      View Details
    • Value Estimation by Request
      3.06 Acres

      Rhinelander, WI 54501

      COMMERCIAL (GENERAL) • 3.06 Acres
      Rhinelander, WI 54501
      View Details
    • Value Estimation by Request
      33.90 Acres

      Rhinelander, WI 54501

      COMMERCIAL (GENERAL) • 33.90 Acres
      Rhinelander, WI 54501
      View Details
    • Value Estimation by Request
      0.07 Acres

      Rhinelander, WI 54501

      COMMERCIAL (GENERAL) • 0.07 Acres
      Rhinelander, WI 54501
      View Details

    Similar Nearby for Sale

    • $116,900
      0.26 Acres

      Rhinelander Commercial Lot - Prime Location

      High-growth area, near Walmart & Kwik Trip.
      Spring Rd, Rhinelander, WI 54501
      View Details
    • $492,000
      11,391 SF

      Downtown Rhinelander Commercial Building

      High-Cash Flow, Renovated Commercial Property
      51 Brown St, Rhinelander, WI 54501
      View Details
    • Contact for pricing

      Prime Commercial Land, Monico, WI

      High-visibility lot, 7,405 sq ft, $24,900
      0 On Hwy 8, Rhinelander, WI 54501
      View Details
    • $125,000
      1.70 Acres

      Commercial Lot 4: Rhinelander, WI

      High-visibility commercial lot, 1.7 acres.
      4 Taylor Dr, Rhinelander, WI 54501
      View Details
    • $329,900
      2.49 Acres

      Rhinelander Commercial Land - Hwy 17

      High-traffic corner lot, prime development opportunity.
      2.487 Acres Spg Rd, Rhinelander, WI 54501
      View Details
    • $139,900
      0.40 Acres

      Rhinelander Commercial Lot - Prime Location

      High-growth area, near major retailers.
      3603 Spring Rd, Rhinelander, WI 54501
      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.
    2253 Air Park Rd
    Rhinelander, WI 54501
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.