Strip Mall Near Milwaukee
For Sale
$1,500,000
810 Fox Ln, Waterford, WI 53185
Strip mall along Fox Lane near Milwaukee Avenue, available for sale or lease.
Property Size8,051 SF
Days on Market193
Property Features for 810 Fox Ln
General Information
Standard status
Active
Size
8,051 SF
Property subtype
Strip Center
Building Details
Building Size
8,051 SF
Year Built
1999
Properties For Sale
at 810 Fox Ln Contact us- Size
- 3,160 SF
- Lease Type
- NNN
810 Fox Lane
Listing Agency:
Anderson Commercial Group
(414) 425-2700
Listed By:
Brock Anderson · License #8627994
(414) 425-2700
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 29 at 11:40PM
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 Anderson Commercial Group
Investment Insights
Based on property information with market context.
This strip mall was constructed in 1999 and is offered for sale or lease. The property is situated along Fox Lane, west of Milwaukee Avenue, providing a defined commercial location in Waterford.
Key Highlights
- Strip mall constructed in 1999
- Available for sale or lease
- Located on Fox Ln west of Milwaukee Ave
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
$81,915
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
5.46%
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%
$1,638,300
$1.6M
Cap Rate 7%
$1,170,214
$1.2M
Cap Rate 9%
$910,167
$910.2K
Market Conditions
NOI Build-Up for 8,051 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
$120.8K $15.00/SF
− Vacancy
−$3.7K −$0.47/SF
EGI
$117.0K $14.54/SF
− OpEx
−$35.1K −$4.36/SF
NOI
$81.9K $10.17/SF
Area
Racine County, WI
Vacancy
3.10%
Lease Rate
$15.00 /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%
$1,638,300
Cap Rate 7%
$1,170,214
Cap Rate 9%
$910,167
Alternative Uses
Best Use
Retail
$1.17M
$1.02M – $1.37M
NOI $81,915 @ 7.0% cap · market cap 5.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.94M
$1.69M – $2.26M
NOI $135,527 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
43k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 48%
Shops & Services 42%
Dining 7%
Beauty & Spa 2%
Pick 'n Save
Groceries
20,723 visits/mo
0.4 miles
BP
Shops & Services
16,167 visits/mo
0.1 miles
SUBWAY
Dining
3,203 visits/mo
0.1 miles
BMO Harris Bank
Shops & Services
1,867 visits/mo
0.5 miles
Great Clips
Beauty & Spa
921 visits/mo
0.1 miles
Demographics for 53185, WI
18,761
Population
8,211
Households
2.3
Avg Household Size
46
Median Age
32%
College-Educated
96%
High-School Grad
45.7 sq mi
ZIP Area
411
Density / Sq Mi
$100,896
Median Household Income
$55,769
Median Earnings
$1,191
Median Rent
$357,700
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Strip mall along Fox Lane near Milwaukee Avenue, available for sale or lease.
Where is this strip mall located?
The property is located at 810 Fox Ln Waterford, WI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Strip mall constructed in 1999; Available for sale or lease; Located on Fox Ln west of Milwaukee Ave
