Monarch Court Retail Investment
For Sale
$1,670,000
1659 N Spring St, Beaver Dam, WI 53916
Multi-tenant retail property with income growth potential in Beaver Dam.
Property Size11,840 SF
Price / SF$132.40
Days on Market230
Property Features for 1659 N Spring St
General Information
Standard status
Active
Size
11,840 SF
Property subtype
Retail
Building Details
Building Size
11,840 SF
Year Built
2005
Listing Agency:
Mid America Real Estate Milwaukee
Listed By:
Dan Rosenfeld · License #55452
(414) 390-1402
Source:
Midamericagrp
Added: Mar 7
Changed: Oct 9
Last Checked: Oct 20 at 5:43PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$116,968
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,339,360
$2.3M
Cap Rate 7%
$1,670,971
$1.7M
Cap Rate 9%
$1,299,644
$1.3M
Market Conditions
NOI Build-Up for 12,613 SF
Gross rent
$181.6K $14.40/SF
− Vacancy
−$14.5K −$1.15/SF
EGI
$167.1K $13.25/SF
− OpEx
−$50.1K −$3.97/SF
NOI
$117.0K $9.27/SF
Area
Dodge County, WI
Vacancy
8.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,339,360
Cap Rate 7%
$1,670,971
Cap Rate 9%
$1,299,644
Alternative Uses
Best Use
Retail
$1.67M
$1.46M – $1.95M
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
NOI $191,798 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
352
Businesses Nearby
275k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 42%
Dining 32%
Shops & Services 14%
Groceries 7%
Fleet Farm
Apparel
38,252 visits/mo
0.5 miles
Culver's
Dining
25,884 visits/mo
0.3 miles
Kohl's
Apparel
23,019 visits/mo
0.3 miles
Marshalls
Apparel
22,473 visits/mo
0.2 miles
Aldi
Groceries
20,366 visits/mo
0.2 miles
Demographics for 53916, WI
23,057
Population
11,001
Households
2.1
Avg Household Size
42
Median Age
27%
College-Educated
94%
High-School Grad
103.6 sq mi
ZIP Area
223
Density / Sq Mi
$72,704
Median Household Income
$48,218
Median Earnings
$932
Median Rent
$212,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Heritage Mall — 1645 N Spring St, Beaver Dam, WI 53916
Frequently Asked Questions
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.
