Retail Strip Center at Busy
22951 Watertown Rd Pewaukee, WI 53186
For Sale
Contact for pricing
Pending
Established retail strip center near Highway F and Watertown Rd with high traffic at the intersection.
Property Size15,683 SF
Days on Market231
Property Features for 22951 Watertown Rd
General Information
Standard status
Pending
Size
15,683 SF
Property subtype
RETAIL
Listing Agency:
Suntide Commercial Realty, Inc.
(612) 382-3403
Listed By:
Matthew Klein, CCIM
(612) 382-3403
Source:
Moodyscre
Added: Dec 10, 2025
Changed: Jul 26
Last Checked: Jul 29 at 12:25PM
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 Suntide Commercial Realty, Inc.
Investment Insights
Based on property information with market context.
An opportunity to own an established retail strip center. The seller will master lease Suite 105 for two years, providing in-place occupancy under a master lease arrangement.
The property is positioned at the southeast corner of Highway F (34,700 VPD) and Watertown Rd (10,400 VPD) in the Waukesha County area, about 0.5 miles from I-94. The site is described as being within a dense retail and office corridor.
The offering is also presented as benefiting from high visibility and both pedestrian and passing traffic associated with the intersection location.
The property is positioned at the southeast corner of Highway F (34,700 VPD) and Watertown Rd (10,400 VPD) in the Waukesha County area, about 0.5 miles from I-94. The site is described as being within a dense retail and office corridor.
The offering is also presented as benefiting from high visibility and both pedestrian and passing traffic associated with the intersection location.
Key Highlights
- Established retail strip center in Waukesha, WI at the southeast corner of Highway F and Watertown Rd
- Intersection frontage traffic counts: Highway F at 34,700 VPD and Watertown Rd at 10,400 VPD
- Located about 0.5 miles from I‑94
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 | $329.3k | $21.00 |
| − Vacancy | −$11.9k | −$0.76 |
| EGI | $317.5k | $20.24 |
| − OpEx | −$95.2k | −$6.07 |
| NOI | $222.2k | $14.17 |
15,683 SF · lease $21.00/SF/yr · vacancy 3.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.17M
$2.78M – $3.70M
NOI $222,241 @ 7.0% cap · market cap 8.08%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$8.00M
$7.00M – $9.34M
NOI $560,290 @ 7.0% cap · market cap 20.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Strip mall - Established retail strip center near Highway F and Watertown Rd with high traffic at the intersection.
Where is this strip mall located?
The property is located at 22951 Watertown Rd Pewaukee, WI.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Established retail strip center in Waukesha, WI at the southeast corner of Highway F and Watertown Rd; Intersection frontage traffic counts: Highway F at 34,700 VPD and Watertown Rd at 10,400 VPD; Located about 0.5 miles from I‑94
