400-416 S Pelham St, Rhinelander, WI 54501

Property Description

MOTIVATED SELLER! TWO BUILDINGS, MULTIPLE INCOME STREAMS, ONE EXCEPTIONAL INVESTMENT OPPORTUNITY! Take advantage of this rare opportunity to acquire a versatile, income-producing commercial and residential property package in the heart of downtown Rhinelander! Offering two well-maintained buildings with a desirable mix of residential apartments and commercial spaces, this investment presents exciting possibilities for immediate income and long-term growth. BUILDING ONE offers approximately 3,330 square feet of upper-level residential space featuring FOUR 2-bedroom, 1-bath apartments and ONE efficiency apartment, with many units recently remodeled. The main level includes an additional 852-square-foot, 2-bedroom, 1-bath apartment PLUS approximately 5,800 square feet of retail and office space. The flexible commercial layout offers opportunities for future reconfiguration to accommodate changing tenant needs and potentially enhance rental income. BUILDING TWO features approximately 2,000 square feet divided into THREE retail/office units, along with a full basement providing valuable additional storage. LOCATION, LOCATION, LOCATION! Strategically positioned on a highly visible downtown corner, these properties benefit from strong traffic counts, excellent exposure, private off-street paved parking, and convenient access to shopping, dining, entertainment, and other city amenities. Whether you're expanding an established portfolio or seeking a diversified real estate investment, this two-building package offers exceptional versatility and income potential! SELLER FINANCING AVAILABLE TO QUALIFIED BUYERS! REAL ESTATE ONLY – NO BUSINESSES INCLUDED. Showings by appointment only. CALL TODAY AND EXPLORE THE POSSIBILITIES! BONUS OPPORTUNITY! The well-known Kids Korner Pizza business is available separately (MLS #217967).