11 Marshall StRice Lake, WI 54868

Property Details for 11 Marshall St

Lot size

0.40 AC

Property type

Commercial real estate

APN

276-1642-52-000

APU

276164252000

Description

This exceptional investment opportunity presents a fully occupied, multi-tenant office building situated in Rice Lake, Wisconsin's central business district. The property, formerly Rice Lake City Hall, boasts 8,512 net rentable square feet across seven individual suites, ranging in size from 485 to 3,000 square feet. Professionally remodeled in 2018, the two-story, Class B building offers a diverse tenant mix including a family care practice, salon, CPA firm, engineering firm, and others. The 10,000 total square foot building sits on a 0.399-acre lot and includes 35 off-street parking spaces for tenants and clients. The property features a strong net operating income (NOI) of $84,628, with an 8.82% cap rate and a current asking price of $960,000. The building's location is highly desirable, adjacent to Sterling Bank and the Rice Lake Library, ensuring high visibility and accessibility. Built in 1900 and extensively renovated in 2014, this property offers a blend of historical charm and modern functionality. The property is zoned for commercial use and has a 2024 assessed value of $954,600, with an assessor's fair market value of $967,400. This is a rare opportunity to acquire a stable, high-performing investment property with a proven track record of success. The property is offered as a Net Lease (NNN) investment.

Location Insight

City

Rice Lake

County

Barron

State

Wisconsin

Latitude

45.5047

Longitude

-91.7325

Property Tax & Assessments

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