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Monarch Court Retail Investment Opportunity

1659 N Spring St Beaver Dam, WI 53916

1659 N Spring St, Beaver Dam, WI, 53916

$1,670,000

For Sale

$1,670,000

Multi-tenant retail property with income growth potential in Beaver Dam.

Property Size12,613 SF

Price / SF$132.40

AddedMar 7

Days on Market130

Last RefreshJul 15 at 8:51 am

Property Features for 1659 N Spring St

General Information

Standard status: Active
Size: 12,613 SF
Property subtype: Retail

Building Details

Year Built: 2005

Listing office Mid America Real Estate Milwaukee

Listing date Mar 7, 2026

Source Midamericagrp

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 Mid America Real Estate Milwaukee

Investment Insights

Based on property information with market context.

Monarch Court is a 12,613 square foot multi-tenant retail property featuring ten suites ranging from 100 to 3,634 square feet. The property is anchored by service and wellness tenants and is located adjacent to Heritage Village Mall. In-place gross rents average approximately $17.00 per square foot. The property benefits from frontage on North Spring Street with 18,500 vehicles per day, with access to US-151. Recent capital improvements include a new roof and gutter system installed in 2024. The suites are suitable for service providers, wellness concepts, financial services, and flex users. The property offers income growth potential.

Key Highlights

Immediate mark‑to‑market upside with in‑place gross rents averaging ~$17 PSF.
Directly adjacent to Heritage Village Mall, Beaver Dam’s premier shopping destination.
New roof and gutter system installed in 2024.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$181.6k	$14.40
− Vacancy	−$14.5k	−$1.15
EGI	$167.1k	$13.25
− OpEx	−$50.1k	−$3.97
NOI	$117.0k	$9.27

12,613 SF · lease $14.40/SF/yr · vacancy 8.00% · expense 30.00%

Alternative Uses

Best Use

Retail

$1.67M

$1.46M – $1.95M (±1% cap)

NOI $116,968 @ 7.0% cap · market cap 7.00%

Second Best

—

no second resolved use

Theoretical Best

Office A

$2.74M

$2.40M – $3.20M (±1% cap)

NOI $191,798 @ 7.0% cap · market cap 11.48%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Northwestern Mutual Financial Advisor Care Wisconsin Social Service Agency Rainbow Community Care Nursing Home Genesis Computer Systems Tech Support Center Victoria's Salon Hair Salon

Suggested Use

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For sale
Shopping centers
WI
Beaver Dam
53916
1659 N Spring St

What type of property is this?

Shopping center - Multi-tenant retail property with income growth potential in Beaver Dam.

Where is this shopping center located?

The property is located at 1659 N Spring St Beaver Dam, WI.

What is the asking price?

The asking price for this property is $1,670,000.

What are key features of this property?

This property features: Immediate mark‑to‑market upside with in‑place gross rents averaging ~$17 PSF.; Directly adjacent to Heritage Village Mall, Beaver Dam’s premier shopping destination.; New roof and gutter system installed in 2024.