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For Sale
$365,000

215 Lake Avenue E Ladysmith, WI 54848

3,907 sqft · $93/sqft · 0.45 acres · Built 2007

MLS# 1596548

About 215 Lake Avenue E

Prime investment opportunity on Ladysmith’s main corridor! Positioned on the high-visibility corner of Lake Avenue East and Highway 8, this zero-entry, slab-on-grade commercial building offers unmatched exposure, consistent vehicle traffic, and even uncapitalized views of the Flowage with your own frontage. The building features three fully leased units ready to add to your investment portfolio! The west unit is home to a long-standing nail salon tenant, leased through September of 2028. The middle unit is leased through September 2026 and operating as a 24-hour laundromat and the laundry equipment is included! This lease also includes full use of the adjacent office space (the east unit) and all on-site commercial laundry equipment; maintained by the tenant. Offering a solid tenant mix, stable income, flexible-use layout, and high-traffic corner placement, this is a rare chance to acquire a turn-key income-producing asset in a growing Northwoods community.

Property Details

Above Grade Finished
3,907 sq ft
Lot Dimensions
100 x 160 x 120 x 163
Possession
Subject To Tenant Rights
Zoning
Commercial, Shoreline
Heating
Baseboard, Forced Air
Cooling
Central Air, Other, See Remarks
Water
Public
Sewer
Public Sewer
Foundation
Poured
Construction
Log, Wood Siding
Accessibility
Accessibility Features, Other, Accessible Entrance
School District
Ladysmith
County
Rusk
Township
City of Ladysmith
Directions
Lake Avenue East (Hwy 8). Property is on the corner of Lake Ave E and Hwy 8, near the flowage.
Parcel Number
246-02310-0000
Original List Price
$399,900
Previous Price
$379,900
Legal Description
MENASHA WOODENWARE CO'S 1ST ADD LOT 33 & E 1/2 LOT 34 BLOCK 20 EX TRIANGULAR PARCEL IN SE CORNER OF LOT 33 DESC AS BEGINNING AT SE CORNER OF LOT 33;
Listing Brokerage
Keller Williams Realty Diversified

Price & Listing History

  • Nov 2025 · Listed
    $399,900
  • Currently active · 179 days on market
    Now $365,000

Prior price and listing information from sources believed to be reliable, but no guarantees of accuracy and data has not been confirmed. Please confirm with county official documents.

Flood Zone

Not in a Special Flood Hazard Area · FEMA Zone X
AREA OF MINIMAL FLOOD HAZARD
Federally-backed mortgages do not require flood insurance for properties in this zone.

Source: FEMA National Flood Hazard Layer. Flood maps are updated periodically (typically every 5–10 years per area) and may not reflect current ground conditions or recent improvements. For mortgage purposes, your lender may obtain an official Flood Determination from a licensed firm. Always verify before making decisions.

Location

  • Parks
  • Hospital
  • Schools

What's Near 215 Lake Ave E, Ladysmith, WI 54848

Nearby Parks

Nearby Bike Trails

Ladysmith Area Schools

Ladysmith School District

School assignments are sourced from public data and may change. Confirm directly with the district before relying on assignment.

Ladysmith Property Taxes

Annual tax
$7,907.73 (2024)
Parcel #
246-02310-0000
County
Rusk

Legal: MENASHA WOODENWARE CO'S 1ST ADD LOT 33 & E 1/2 LOT 34 BLOCK 20 EX TRIANGULAR PARCEL IN SE CORNER OF LOT 33 DESC AS BEGINNING AT SE CORNER OF LOT 33;

Mortgage Calculator

Estimated monthly $0
Principal & interest
$0
Property tax (est.)
$0
Home insurance (est.)
$0

Estimate only. Insurance assumed at 0.4% of home price annually; property tax from MLS data when available, otherwise 1.5%. Not a loan offer — confirm with your lender.

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This website is a service of 1 Reason Realty, a broker participant of the Northwestern Wisconsin MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.