11 E Marshall St
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11 E Marshall St
10,400 SF 100% Leased Office Building Rice Lake, WI 54868 $960,000 ($92/SF) 8.82% Cap Rate
Investment Highlights
- Showstopper in the middle of the downtown area
- 100% occupied, easy to lease, great 1031 acquisition
- Beautifully remodeled into a beautiful stately brick building
Executive Summary
Professionally remodeled top to bottom in 2018. This former City Hall building features 7 private suites in 8,512 net square feet. Suites range from 485 SF to 3,000 SF and with 35 off-street parking spaces for employees and customers. List of tenants include family care, salon, CPA firm, engineering form WEAC and wellness councilor. The building is located in the Rice Lake Central Business District adjacent to Sterling Bank and the Rice Lake Library.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$132,628
|
$12.75
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$132,628
|
$12.75
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$48,000
|
$4.62
|
| Net Operating Income |
$84,628
|
$8.14
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $132,628 |
| Annual Per SF | $12.75 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $132,628 |
| Annual Per SF | $12.75 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $48,000 |
| Annual Per SF | $4.62 |
| Net Operating Income | |
|---|---|
| Annual | $84,628 |
| Annual Per SF | $8.14 |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
10,400 SF
Building Class
B
Year Built
1968
Price
$960,000
Price Per SF
$92
Cap Rate
8.82%
NOI
$84,628
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
5,674 SF
Building FAR
1.19
Lot Size
0.20 AC
Opportunity Zone
Yes
Zoning
Commercial
Parking
35 Spaces (3.37 Spaces per 1,000 SF Leased)
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PROPERTY TAXES
| Parcel Number | 276-1642-52-000 | Improvements Assessment | $893,100 |
| Land Assessment | $61,500 | Total Assessment | $954,600 |
PROPERTY TAXES
Parcel Number
276-1642-52-000
Land Assessment
$61,500
Improvements Assessment
$893,100
Total Assessment
$954,600
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11 E Marshall St
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