Medical-Focused Shopping
For Sale
Contact for pricing
1600-1688 N Casaloma Drive, Appleton, WI 54913
Commercial shopping center with medical occupants, NNN lease structure, available space, and an owner-held backup generator.
Property Size24,510 SF
Price / SF$173.40
Days on Market54
Property Features for 1600-1688 N Casaloma Drive
General Information
Standard status
Active
Size
24,510 SF
Class
A
Property subtype
Retail, Office
Zoning
Commercial
Occupancy
71%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$307,206
Additional Details
Cap Rate
7%
Amenities
backup generator
Building Details
Year Built
2008
Year Renovated
2015
Tenancy
Multi
Listing Agency:
Besaw Properties LTD
Listed By:
Tim Besaw · License #WI 52657
(920) 338-8080
Source:
Crexi
Added: Jul 29
Changed: Sep 15
Last Checked: Sep 19 at 9:30AM
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 Besaw Properties LTD
Investment Insights
Based on property information with market context.
This 24,510-square-foot shopping center at 1600-1688 N. Casaloma Drive includes predominantly medical occupancy and a mix of long-term NNN leases. Built in 2008, the property also includes 7,050 square feet of vacant area for a new occupant or future repositioning. An onsite backup generator is owned by the seller.
The property is located in Appleton, Wisconsin, and is identified for Commercial zoning. The current 7% cap rate and combination of leased and vacant space provide a clear overview of the existing operating profile.
The property is located in Appleton, Wisconsin, and is identified for Commercial zoning. The current 7% cap rate and combination of leased and vacant space provide a clear overview of the existing operating profile.
Key Highlights
- 24,510 square feet of shopping center space
- 7,050 square feet currently vacant
- Predominantly medical occupancy with long‑term NNN leases
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
$364,944
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
8.59%
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%
$7,298,880
$7.3M
Cap Rate 7%
$5,213,486
$5.2M
Cap Rate 9%
$4,054,933
$4.1M
Market Conditions
NOI Build-Up for 24,510 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
$552.9K $22.56/SF
− Vacancy
−$66.4K −$2.71/SF
EGI
$486.6K $19.85/SF
− OpEx
−$121.6K −$4.96/SF
NOI
$364.9K $14.89/SF
Area
Outagamie County, WI
Vacancy
12.00%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
25.00%
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%
$7,298,880
Cap Rate 7%
$5,213,486
Cap Rate 9%
$4,054,933
Alternative Uses
Best Use
Office B
$5.21M
$4.56M – $6.08M
NOI $364,944 @ 7.0% cap · market cap 8.59%
Second Best
Healthcare Medical
$5.12M
$4.48M – $5.97M
NOI $358,053 @ 7.0% cap · market cap 8.42%
Theoretical Best
Office A
$6.76M
$5.91M – $7.88M
NOI $473,044 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 54913, WI
23,818
Population
9,930
Households
2.4
Avg Household Size
40
Median Age
47%
College-Educated
98%
High-School Grad
64.2 sq mi
ZIP Area
371
Density / Sq Mi
$103,149
Median Household Income
$57,739
Median Earnings
$1,158
Median Rent
$365,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
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- Center Valley — 3810 W Wisconsin Ave, Grand Chute, WI 54914
- Trasino Landing — 1616 N Casaloma Dr, Appleton, WI 54913
Frequently Asked Questions
What type of property is this?
Shopping center - Commercial shopping center with medical occupants, NNN lease structure, available space, and an owner-held backup generator.
Where is this shopping center located?
The property is located at 1600-1688 N Casaloma Drive Appleton, WI.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: 24,510 square feet of shopping center space; 7,050 square feet currently vacant; Predominantly medical occupancy with long‑term NNN leases
