Medical-Tenant Strip
For Sale
$4,250,000
1600 N Casaloma Dr, Appleton, WI 54913
The center is occupied primarily by medical tenants and has received upgrades within the last three years.
Property Size24,510 SF
Price / SF$173.40
Days on Market21
Property Features for 1600 N Casaloma Dr
General Information
Standard status
Active
Size
24,510 SF
Additional Details
Cap Rate
7%
Building Details
Year Built
2007
Tenancy
Multi
Listing Agency:
Besaw Properties, Ltd
(920) 338-8080
Listed By:
Timothy J. Besaw
Source:
Heathergossen
Added: Aug 9
Changed: Aug 29
Last Checked: Aug 25 at 4:50AM
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.
Built in 2007, this strip mall is primarily leased to medical tenants and includes 7,000 square feet of vacant space. The property has undergone multiple upgrades within the last three years, providing a recently improved physical platform for ongoing operations and leasing activity.
Located at 1600 N Casaloma Dr in Appleton, Wisconsin, the center is offered as a commercial investment with a reported 7% cap rate. The property is broker owned.
Located at 1600 N Casaloma Dr in Appleton, Wisconsin, the center is offered as a commercial investment with a reported 7% cap rate. The property is broker owned.
Key Highlights
- Primarily medical tenant strip mall
- 7,000 square feet currently vacant
- 7% cap rate
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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
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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Frequently Asked Questions
What type of property is this?
Strip mall - The center is occupied primarily by medical tenants and has received upgrades within the last three years.
Where is this strip mall located?
The property is located at 1600 N Casaloma Dr 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: Primarily medical tenant strip mall; 7,000 square feet currently vacant; 7% cap rate
