2304 Main StRice Lake, WI 54868

Property Details for 2304 Main St

Lot size

1.23 AC

Property type

Commercial real estate

APN

276-8001-36-000

APU

276800136000

Description

This exceptional mixed-use investment property, located at 2300-2304 S Main St, Rice Lake, WI 54868, presents a compelling opportunity. Boasting 22,993 square feet on a 1.48-acre lot, this Class B building offers a diverse tenancy including Subway, Check Into Cash, Fantastic Sam's, Citywide Finance Co., Edward Jones, Marshfield Clinic, Papa Murphy's, Badger Brew, Shopko Optical, and AT&T. The property features a newer roof and parking lot, providing ample parking at a rate of 5.05 spaces per 1,000 square feet. Currently operating at 100% occupancy with a 7.83% cap rate and an asking price of $3,300,000, this is a strong NNN lease investment. Built in 1990, this single-story building is zoned C and benefits from its prime location next to Culver's. The property's APN is 276-8001-36-000 and is offered as a 1031 exchange opportunity. This multi-tenant property offers a stable income stream and significant potential for long-term growth. The property's diverse tenant mix minimizes risk and ensures consistent cash flow. This is an ideal investment for those seeking a high-yield, low-maintenance property in a thriving Wisconsin community.

• CAP approach

  CAP return

  Valuation

  6%

  $11,164,200

  6.5%

  $10,305,400

  7%

  $9,569,330

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,734,670

  Geo Method

  $2,734,670

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $20,350,700

  Retail / Commercial

  $10,423,700

  Mixed-Use / Specialty

  $10,377,000

  Hospitality / Lodging

  $7,600,870

  Office

  $10,305,400

  Institutional / Educational

  $10,784,500

  Residential Income

  $12,617,900

  Multifamily

  $15,186,000

  Automotive / Energy

  $9,243,850

  Parking / Income-Based Land

  $3,199,350

  Restaurant / Food Service

  $5,376,830

  Healthcare / Senior Housing

  $10,651,200

Location Insight

City

Rice Lake

County

Barron

State

Wisconsin

Latitude

45.4762

Longitude

-91.7363

Property Tax & Assessments

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