Anchored Shopping
For Sale
Contact for pricing
711 N Casaloma Dr, Appleton, WI 54913
Retail center near Interstate 41 with established anchors and surrounding national retailers.
Property Size47,262 SF
Price / SF$148.11
Days on Market257
Property Features for 711 N Casaloma Dr
General Information
Standard status
Active
Size
47,262 SF
Class
A
Property subtype
Retail
Occupancy
77%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$557,365
Site & Location
Anchor Co-Tenants
Petco, Guitar Center
Highway Access
Yes
Building Details
Year Built
1993
Buildings
1
Tenancy
Multi
Listing Agency:
Mid-America Real Estate
(414) 390-1402
Listed By:
Andrew Lund · License #60516 - 90
Source:
Crexi
Added: Dec 18, 2025
Changed: Aug 31
Last Checked: Aug 31 at 3:35AM
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
Investment Insights
Based on property information with market context.
Built in 1993, this 47,262-square-foot shopping center is anchored by Petco and Guitar Center. The property is currently 77.5% occupied, with existing vacancy available for lease-up. Its retail configuration and established anchor tenancy support a range of commercial occupancy needs.
The center is located at 711 N Casaloma Dr in Appleton, within the Fox River Mall corridor. Access is positioned just off Interstate 41, which carries more than 70,000 vehicles per day. Nearby national retailers include Walmart, Costco, and Menards, providing a retail-oriented surrounding context.
The center is located at 711 N Casaloma Dr in Appleton, within the Fox River Mall corridor. Access is positioned just off Interstate 41, which carries more than 70,000 vehicles per day. Nearby national retailers include Walmart, Costco, and Menards, providing a retail-oriented surrounding context.
Key Highlights
- 47,262 SF shopping center built in 1993
- Anchored by Petco and Guitar Center
- 77.5% occupied with existing vacancy
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
$610,952
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
8.73%
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%
$12,219,040
$12.2M
Cap Rate 7%
$8,727,886
$8.7M
Cap Rate 9%
$6,788,356
$6.8M
Market Conditions
NOI Build-Up for 47,262 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
$896.1K $18.96/SF
− Vacancy
−$23.3K −$0.49/SF
EGI
$872.8K $18.47/SF
− OpEx
−$261.8K −$5.54/SF
NOI
$611.0K $12.93/SF
Area
Outagamie County, WI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
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%
$12,219,040
Cap Rate 7%
$8,727,886
Cap Rate 9%
$6,788,356
Alternative Uses
Best Use
Retail
$8.73M
$7.64M – $10.18M
NOI $610,952 @ 7.0% cap · market cap 8.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$13.03M
$11.40M – $15.20M
NOI $912,158 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,239
Businesses Nearby
15k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Home Improvements & Furnishings 22%
Hotels & Casinos 16%
Shell
Shops & Services
9,570 visits/mo
0.5 miles
Ashley
Home Improvements & Furnishings
3,418 visits/mo
0.5 miles
Home2 Suites
Hotels & Casinos
2,414 visits/mo
0.4 miles
Demographics for 54913, WI
23,818
Population
9,930
Households
2.4
Avg Household Size
40
Median Age
47%
College-Educated
98%
High-School Grad
64.2 sq mi
ZIP Area
371
Density / Sq Mi
$103,149
Median Household Income
$57,739
Median Earnings
$1,158
Median Rent
$365,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- wall Mart, Appleton, WI — 301 N Mall Dr, Appleton, WI 54913
- Proactiv Kiosk — 4301 W Wisconsin Ave, Appleton, WI 54913
- Sunglass Hut — 4301 W Wisconsin Ave Space 326, Appleton, WI 54913
- Fox River Mall — 4301 W Wisconsin Ave, Appleton, WI 54913
- Trasino Landing — 1616 N Casaloma Dr, Appleton, WI 54913
Frequently Asked Questions
What type of property is this?
Shopping center - Retail center near Interstate 41 with established anchors and surrounding national retailers.
Where is this shopping center located?
The property is located at 711 N Casaloma Dr Appleton, WI.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: 47,262 SF shopping center built in 1993; Anchored by Petco and Guitar Center; 77.5% occupied with existing vacancy
