864 Lake AvePhillips, WI 54555

Property Details for 864 Lake Ave

Lot size

0.55 AC

Property type

Commercial real estate

APN

50-272-4-37-01-07-5 15-021-18000

APU

9223372036854775807

Description

This versatile 4,922 square foot commercial building presents a unique investment opportunity in Phillips, Wisconsin. Strategically located on busy Highway 13, this property boasts a prominent position within the city. Previously utilized as a daycare and elderly care facility, the adaptable floor plan offers numerous possibilities for a wide range of commercial ventures. The interior features seven offices of varying sizes, a substantial gathering room, a welcoming reception area, and a comfortable 12' x 20' sitting area complete with an electric fireplace. Practical amenities include four bathrooms, a well-equipped kitchen with two refrigerators, and a convenient laundry room with a stackable washer/dryer unit and mop sink. A secure 19' x 17' vault provides ample storage. The building's exterior is equally impressive, showcasing a cultured stone façade, attractive decorative siding, and a recently replaced shingled roof (less than 10 years old). A fenced-in rear area offers additional space, ideal for outdoor recreation, a playground, or employee break area. The 0.55-acre lot provides ample parking and outdoor space. A restrictive covenant prohibits use as a bank or financial institution. Square footage is agent measured

• CAP approach

  CAP return

  Valuation

  6%

  $4,992,110

  6.5%

  $4,608,100

  7%

  $4,278,950

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,222,820

  Geo Method

  $1,222,820

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $9,099,890

  Retail / Commercial

  $4,660,980

  Mixed-Use / Specialty

  $4,640,100

  Hospitality / Lodging

  $3,398,750

  Office

  $4,608,100

  Institutional / Educational

  $4,822,310

  Residential Income

  $5,642,110

  Multifamily

  $6,790,440

  Automotive / Energy

  $4,133,410

  Parking / Income-Based Land

  $1,430,600

  Restaurant / Food Service

  $2,404,270

  Healthcare / Senior Housing

  $4,762,700

Location Insight

City

Phillips

County

Price

State

Wisconsin

Latitude

45.6982

Longitude

-90.4114

Property Tax & Assessments

FAQs

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