Freestanding Retail Building in
For Sale
$2,643,000
1231 Crossing Meadows Drive, Onalaska, WI 54650
Freestanding 15,768 SF retail building in Onalaska, Wisconsin.
Property Size15,748 SF
Lot Size1.18 Acres
Price / SF$167.83
Days on Market141
Property Features for 1231 Crossing Meadows Drive
General Information
Standard status
Active
Size
15,748 SF
Lot size
1.18 Acres
Property subtype
Retail
Listing Agency:
(612) 336-4322
Listed By:
AJ Prins
(612) 336-4322
Source:
Cbre
Added: Mar 25
Changed: Aug 9
Last Checked: Aug 11 at 4:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of AJ Prins
Investment Insights
Based on property information with market context.
This freestanding retail building in Onalaska, Wisconsin, offers 15,768 square feet of space on a 1.18-acre lot. The property is located within the Crossing Meadows retail development, anchored by Festival Foods and Sam’s Club. The location benefits from high visibility and traffic counts, as well as the area’s residential and commercial growth. The current tenant, Petco, opened in 1996 and has demonstrated commitment to the site with lease extensions in 2012, 2020, and 2024. The rent rate is $12 per square foot. Petco Health and Wellness Company, Inc. has corporate offices in San Diego and San Antonio and operates 1,500 locations. The company's 2023 revenues exceeded $6 billion. Onalaska is located on the border of Minnesota and Wisconsin and, together with La Crosse, forms the La Crosse MSA, with a population of approximately 139,000.
Key Highlights
- Premiere retail location in a robust trade area anchored by Festival Foods and Sam's Club.
- Petco has demonstrated site commitment with 3 early lease extensions.
- Attractive below‑market rent of $12 per square foot.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$158,409
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,168,180
$3.2M
Cap Rate 7%
$2,262,986
$2.3M
Cap Rate 9%
$1,760,100
$1.8M
Market Conditions
NOI Build-Up for 15,748 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$236.2K $15.00/SF
− Vacancy
−$9.9K −$0.63/SF
EGI
$226.3K $14.37/SF
− OpEx
−$67.9K −$4.31/SF
NOI
$158.4K $10.06/SF
Area
La Crosse County, WI
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,168,180
Cap Rate 7%
$2,262,986
Cap Rate 9%
$1,760,100
Alternative Uses
Best Use
Retail
$2.26M
$1.98M – $2.64M
NOI $158,409 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.44M
$3.01M – $4.02M
NOI $241,086 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
273k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 35%
Superstores 33%
Groceries 21%
Dining 6%
Sam's Club
Superstores
90,762 visits/mo
0.2 miles
Skogen's Festival Foods
Groceries
57,678 visits/mo
0.2 miles
Kwik Trip
Shops & Services
35,127 visits/mo
0.3 miles
PetSmart
Shops & Services
25,671 visits/mo
0.5 miles
Jo-Ann Fabric and Craft
Shops & Services
13,803 visits/mo
0.2 miles
Demographics for 54650, WI
24,523
Population
11,166
Households
2.2
Avg Household Size
41
Median Age
40%
College-Educated
98%
High-School Grad
30.9 sq mi
ZIP Area
794
Density / Sq Mi
$85,255
Median Household Income
$48,366
Median Earnings
$1,109
Median Rent
$279,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Freestanding 15,768 SF retail building in Onalaska, Wisconsin.
Where is this retail space located?
The property is located at 1231 Crossing Meadows Drive Onalaska, WI.
What is the asking price?
The asking price for this property is $2,643,000.
What are key features of this property?
This property features: Premiere retail location in a robust trade area anchored by Festival Foods and Sam's Club.; Petco has demonstrated site commitment with 3 early lease extensions.; Attractive below‑market rent of $12 per square foot.
