Flex Space with Secured
For Sale
Contact for pricing
2605 S Casaloma Dr, Appleton, WI 54956
Multi-building commercial property combines shop, warehouse, office, and fenced outdoor storage areas.
Property Size15,600 SF
Lot Size3.36 Acres
Price / SF$108.97
Days on Market55
Property Features for 2605 S Casaloma Dr
General Information
Standard status
Active
Size
15,600 SF
Lot size
3.36 Acres
Property subtype
INDUSTRIAL
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Warehouse & Industrial
Warehouse Space
12,000 SF
Office Build-Out
1,600 SF
Three-Phase Power
Yes
Amenities
fuel island
Building Details
Buildings
2
Listing Agency:
NAI Pfefferle
(920) 216-2554
Listed By:
John Roberts, SIOR · License #7975894
(920) 216-2554
Source:
Moodyscre
Added: Jul 9
Changed: Aug 31
Last Checked: Aug 31 at 1:10PM
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 NAI Pfefferle
Investment Insights
Based on property information with market context.
This flex-space property includes a primary building with approximately 13,600 SF divided between shop and warehouse areas and office space, plus an additional approximately 2,000 SF shop building. The main structure has five grade-level drive-in doors, while the secondary building provides two more. Three-phase power serves both buildings, with LED lighting and a make-up air system in the main building.
The approximately 3.36-acre site features a fully fenced, usable yard and three separate entrance and exit points. An existing fuel island with above-ground fuel infrastructure is included. The secured outdoor area can accommodate vehicles, trailers, equipment, materials, and fleet operations.
The approximately 3.36-acre site features a fully fenced, usable yard and three separate entrance and exit points. An existing fuel island with above-ground fuel infrastructure is included. The secured outdoor area can accommodate vehicles, trailers, equipment, materials, and fleet operations.
Key Highlights
- Approximately 15,600 SF across two buildings
- Main building includes approximately 12,000 SF shop/warehouse space and 1,600 SF office
- Five grade‑level drive‑in doors in the main building; two in the secondary shop
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
$89,591
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
5.27%
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%
$1,791,820
$1.8M
Cap Rate 7%
$1,279,871
$1.3M
Cap Rate 9%
$995,456
$995.5K
Market Conditions
NOI Build-Up for 15,600 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
$147.9K $9.48/SF
− Vacancy
−$10.1K −$0.64/SF
EGI
$137.8K $8.84/SF
− OpEx
−$48.2K −$3.09/SF
NOI
$89.6K $5.74/SF
Area
Outagamie County, WI
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
35.00%
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%
$1,791,820
Cap Rate 7%
$1,279,871
Cap Rate 9%
$995,456
Alternative Uses
Best Use
Flex RnD
$1.28M
$1.12M – $1.49M
NOI $89,591 @ 7.0% cap · market cap 5.27%
Second Best
Warehouse
$1.09M
$951.2K – $1.27M
NOI $76,094 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$4.30M
$3.76M – $5.02M
NOI $301,080 @ 7.0% cap · market cap 17.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 54956, WI
46,316
Population
20,104
Households
2.3
Avg Household Size
40
Median Age
38%
College-Educated
96%
High-School Grad
61.7 sq mi
ZIP Area
751
Density / Sq Mi
$81,386
Median Household Income
$49,445
Median Earnings
$1,005
Median Rent
$238,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Choices Catering — 2340 Holly Rd, Neenah, WI 54956
- Blue Lid BBQ — 1280 S Van Dyke Rd Unit 2, Appleton, WI 54914
Frequently Asked Questions
What type of property is this?
Flex space - Multi-building commercial property combines shop, warehouse, office, and fenced outdoor storage areas.
Where is this flex space located?
The property is located at 2605 S Casaloma Dr Appleton, WI.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Approximately 15,600 SF across two buildings; Main building includes approximately 12,000 SF shop/warehouse space and 1,600 SF office; Five grade‑level drive‑in doors in the main building; two in the secondary shop
