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    507 Summit St Spooner, WI 54801

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    507 Summit St Spooner, WI 54801

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    • Commercial real estate
    • 9,915 SF
    Off-Market
    Property ID
    US92-2195872
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 507 Summit St

    Property size
    9,915 SF
    Property type
    Commercial real estate

    Description

    This exceptional 9,915 square foot commercial building located at 507 Summit Street in Spooner, Wisconsin, presents a unique investment opportunity. The property boasts a versatile layout ideal for a variety of uses. Currently featuring 5,360 square feet of finished office space, divided into two distinct areas, the building also includes a substantial 4,500 square foot heated garage area, currently under lease. The garage space is equipped with six overhead doors, providing ample access for vehicles and equipment. Internal amenities include a full kitchen and four full bathrooms, enhancing the functionality and convenience of the space. The building's size and features make it suitable for a large company's headquarters, offering ample room for operations and staff. Alternatively, the property's layout lends itself to conversion into residential apartments, capitalizing on the growing demand for housing. Another viable option is conversion into climate-controlled storage units, a consistently in-demand service. The property is situated in Spooner, WI, offering easy access to local amenities and transportation routes. With its substantial size, versatile design, and prime location, this property presents a compelling investment opportunity with significant potential for future growth and profitability. The asking price is $495,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Spooner
    County
    WASHBURN
    State
    Wisconsin
    Longitude
    -91.88944
    Latitude
    45.82759

    Comparable in this City

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      Spooner Mixed-Use Commercial Property

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      Remodeled Office Space in Spooner

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    Similar Nearby for Sale

    • $485,000
      18,449 SF

      Spooner Bowling Alley Investment

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      410 River St, Spooner, WI 54801
      View Details
    • $75,000
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      Wooded Lot Near Spooner

      5.27-acre wooded lot near Spooner Golf Course and Spooner Lake.
      Foss Ln, Spooner, WI 54801
      View Details
    • $799,000
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      Bass Lake Potential Cabin/Workshop

      Newly constructed building on 4.17 acres with lake frontage.
      N7891 Hilly Ln, Spooner, WI 54801
      View Details
    • Contact for pricing

      Spooner Commercial Buildings For Sale

      Four buildings totaling approximately 15,236 SF with highway access.
      102 Pine St, Spooner, WI 54801
      View Details
    • $675,000
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      Spooner Mixed-Use Commercial Property

      10.2-acre commercial property with multiple income streams in Spooner, WI.
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    • $465,000
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      Remodeled Office Space in Spooner

      Recently remodeled office space with ample natural light and parking.
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      View Details
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    507 Summit St
    Spooner, WI 54801
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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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