Monarch Court Retail Investment
1659 N Spring St Beaver Dam, WI 53916
For Sale
$1,670,000
Multi-tenant retail property with income growth potential in Beaver Dam.
Property Size12,613 SF
Price / SF$132.40
Days on Market138
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 Agency:
Mid America Real Estate Milwaukee
(414) 390-1402
Listed By:
Dan Rosenfeld · License #55452
Source:
Midamericagrp
Added: Mar 7
Changed: Jul 10
Last Checked: Jul 23 at 4:48AM
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.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| 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
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 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
Similar Off Market Nearby
- Heritage Mall — 1645 N Spring St, Beaver Dam, WI 53916
FAQs
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.
