Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space Near Janesville Mall Title is generated by Realmo AI

    1504 Refset Drive, Janesville, WI 53545

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    5,900 SF retail space near Janesville Mall.

    Type:Retail
    Added:
    Nov 22, 2025
    Days on Market:
    190
    Last Refresh:
    May 19 at 8:30 pm

    Property Features for 1504 Refset Drive

    General Information

    Standard status
    Active
    Property subtype
    Retail

    We can help!

    Listing Contact
    Devin Tessmer

    Listing agent Devin Tessmer

    Listing office CBRE, Inc.

    Listing date Nov 22, 2025

    Source Cbre

    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 CBRE, Inc.

    HighLights

    • High‑traffic location off Milton Avenue and across from Janesville Mall
    • Ample parking with 75 spaces
    • Signage availability on Pylon
    • Proximity to major retailers including Woodman's, Walgreen's, Auto Zone, and Planet Fitness
    • Available space of 5,900 SF
    • Lease rate of $10.00 PSF NNN

    Overview

    This 5,900 square foot retail space is located just off Milton Avenue and across from the Janesville Mall. The location benefits from proximity to retailers such as Woodman's, Walgreen's, Auto Zone, and Planet Fitness. The lease rate is $10.00 per square foot NNN, with NNN expenses estimated at $2.75 per square foot. Signage opportunities include pylon signage. The property provides 75 parking spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Arbor Ridge Real Estate Agency Sherwin-Williams Paint Store Hardware & Home Improvement Amada Salon LLC Hair Salon Galleria Salons Hair Salon ​​TanglesStudio hair salon Hair Salon

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Janesville
    County
    Rock
    State
    Wisconsin
    Longitude
    -89.0046
    Latitude
    42.7116

    Nearby Similar for Lease

    • $24,000 SF/Yr

      Second-Floor Space Near Children's Museum

      3,000 SF space available March 1, 2026, near museum.
      113 W Milwaukee Street, Janesville, WI 53548
      View Details
    • $208,500 SF/Yr
      30,000 SF

      Janesville Industrial Building with Expansion Potential

      30,000 sq ft industrial building with upscale office space.
      401 E Conde Street, Janesville, WI 53546
      View Details
    • $18 SF/Yr
      1,609 SF

      Downtown Janesville Office Space

      Office space for rent in downtown Janesville.
      100 N Main St, Janesville, WI
      View Details
    • $13 SF/Yr
      2,000 SF

      Retail/Office Space For Rent

      Retail or office space available in a busy commercial corridor.
      1905 Center Ave, Janesville, WI
      View Details
    • $1,625/Mo

      Rose Pointe Center - Office or retail space for lease in Janesville, WI

      Office or retail space for lease in Janesville, Wisconsin.
      4407 Milton Ave, Janesville, WI 53546
      View Details
    • $3 SF/Yr
      20,000 SF

      Janesville Warehouse Space Available

      20,000 square foot warehouse space for lease in Janesville.
      162 S River St, Janesville, WI
      View Details
    • $900/Mo

      Small Office Suite in Downtown Janesville For Lease

      Furnished office suite in Janesville's central business district.
      314 W Milwaukee St, Janesville, WI 53548
      View Details
    • $9 SF/Yr
      18,900 SF

      Retail Space with Dock Doors

      Retail space with high visibility and ample parking available for lease.
      1818 Milton Ave, Janesville, WI
      View Details
    • $10 SF/Yr
      10,495 SF

      Retail Space in Janesville Center

      Highly visible shopping center space for lease in Janesville.
      1820 Center Ave, Janesville, WI
      View Details
    • Contact for pricing
      4,661 SF

      Freestanding Retail Building in Janesville

      High-image, single-tenant building on Janesville's main retail thoroughfare.
      3024 Milton Avenue, Janesville, WI, 53545
      View Details
    • $9 SF/Yr
      29,685 SF

      Retail Space with High Visibility

      Retail property for lease with ample parking and signage.
      1800 Milton Ave, Janesville, WI
      View Details
    • Contact for pricing

      Retail Space with Dock Door

      Retail space featuring a dock door in the rear.
      3023 Milton Ave, Janesville, WI 53545
      View Details

    FAQs

    What type of property is this?
    Retail space - 5,900 SF retail space near Janesville Mall.
    Where is this retail space located?
    The property is located at 1504 Refset Drive Janesville, WI.
    What are key features of this property?
    This property features: High‑traffic location off Milton Avenue and across from Janesville Mall; Ample parking with 75 spaces; Signage availability on Pylon
    (414) 274-1644
    We can help!
    Listing Contact
    Devin Tessmer
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1504 Refset Drive, Janesville, WI, 53545
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!