Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space in Pewaukee Center Title is generated by Realmo AI

    690 Westfield Way, Pewaukee, WI 53072

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Neighborhood retail center with monument signage and ample parking.

    Type:Retail
    Property size:
    1,500 SF
    Added:
    Nov 22, 2025
    Days on Market:
    195
    Last Refresh:
    May 19 at 8:40 pm

    Property Features for 690 Westfield Way

    General Information

    Standard status
    Active
    Size
    1,500 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    Devin Tessmer

    Listing agent Devin Tessmer

    Listing office CBRE, Inc.

    Listing date Nov 22, 2025

    Source Cbre

    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 CBRE, Inc.

    HighLights

    • High‑traffic location on Capitol Drive in the Pewaukee retail corridor
    • Below‑market rents at $15 PSF NNN
    • Monument signage available
    • Full lighted access onto Capitol Drive
    • Above‑average surrounding household incomes
    • Ample parking with 190 surface stalls (6.3 stalls/1,000 SF)

    Overview

    This neighborhood retail center is situated along a heavily trafficked retail corridor in Pewaukee. The property features a new monument sign installed in 2018 and full lighted access onto Capitol Drive. The surrounding area has above-average household incomes. Available space is 1,500 square feet with a base rent of $15 per square foot NNN, and NNN expenses are $4.41 per square foot. Monument signage is available. The property includes 190 surface parking stalls, providing a ratio of 6.3 stalls per 1,000 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Jason Groff: Allstate ... Insurance Agency Rosati's Chicago Pizza Restaurant Dollar Tree Discount Store Employee Health Centre Occupational Health Service Acupuncture & Nutrition Specialists ... Medical Clinic

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Coinstar Kiosk | Bitcoin ATM — Roundy's Inc., 1405 W Capitol Drive, Pewaukee, WI 53072
    • Meadow Creek Market — 1405 Capitol Dr, Pewaukee, WI 53072

    Location Insight

    • Map
    • Local Demand
    City
    Pewaukee
    County
    Waukesha
    State
    Wisconsin
    Longitude
    -88.2371
    Latitude
    43.085

    Nearby Similar for Lease

    • Contact for pricing
      44,172 SF

      Mixed-Use Building in Waukesha

      Two-story mixed-use building with office and retail space.
      2301-2359 Silvernail Rd, Pewaukee, WI 53072
      View Details
    • $20 SF/Yr
      480 SF

      Pewaukee Office Suite for Rent

      Single office suite with shared waiting area and ample parking.
      23953 Paul Rd, Pewaukee, WI
      View Details
    • Contact for pricing

      Turnkey Office Space Available

      Sublease opportunity with modern amenities and pond view.
      N19W24200 Riverwood Drive, Pewaukee, WI 53072
      View Details
    • Contact for pricing

      Pewaukee Office Building For Lease

      Modern office building near Capitol Drive and Hwy 16 interchange.
      1166 Quail Ct, Pewaukee, WI 53072
      View Details
    • $18 SF/Yr
      266 SF

      Affordable Interior Office Suite

      Single office suite with shared waiting area and free parking.
      23960 Paul Rd, Pewaukee, WI
      View Details
    • $10 SF/Yr
      2,657 SF

      Pewaukee Flex Space Available

      Flex space with natural light available for lease in Pewaukee.
      1343 E Wisconsin Ave, Pewaukee, WI
      View Details
    • Contact for pricing

      Former Chiropractor Office For Rent

      Former chiropractor office with reception and treatment areas available for rent.
      1300 W. Capitol Drive | Pewaukee, WI 53072
      View Details
    • $10 SF/Yr
      834 SF

      Pewaukee Flex Space Available

      Flex space for rent, close to I-94.
      921 Silvernail Rd, Pewaukee, WI
      View Details
    • $15 SF/Yr
      6,867 SF

      Turnkey Office Space Available

      Move-in ready office with shared amenities and pond view.
      N19 W24200 Riverwood Dr, Pewaukee, WI
      View Details
    • $25 SF/Yr
      5,961 SF

      Pewaukee Stand-Alone Building For Lease

      Stand-alone building suitable for medical, retail, or bank use.
      1611 Silvernail Rd, Pewaukee, WI
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available in Pewaukee, WI, near Hwy 16.
      615 - 617 East Ryan Street, Pewaukee, WI 53072
      View Details
    • $19 SF/Yr
      6,114 SF

      Renovated Office Space Available

      Office space for rent in Riverwood Office Park.
      N19 W24075 Riverwood Dr, Pewaukee, WI
      View Details

    FAQs

    What type of property is this?
    Shopping center - Neighborhood retail center with monument signage and ample parking.
    Where is this shopping center located?
    The property is located at 690 Westfield Way Pewaukee, WI.
    What are key features of this property?
    This property features: High‑traffic location on Capitol Drive in the Pewaukee retail corridor; Below‑market rents at $15 PSF NNN; Monument signage available
    (414) 274-1644
    We can help!
    Listing Contact
    Devin Tessmer
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    690 Westfield Way, Pewaukee, WI, 53072
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!