Forest Mall Redevelopment
For Sale
Contact for pricing
835 W Johnson St, Fond du Lac, WI 54935
Land and retail space available in Forest Mall redevelopment.
Property Size61,100 SF
Lot Size4.70 Acres
Price / SF$61.37
Days on Market687
Property Features for 835 W Johnson St
General Information
Standard status
Active
Size
61,100 SF
Lot size
4.70 Acres
Property subtype
Retail, Multifamily, Mixed Use
Lease Type
NNN
Listing Agency:
Mid America Real Estate Milwaukee
Listed By:
Mike Fitzgerald · License #WI 55552-94
(262) 613-3888
Source:
Crexi
Added: Oct 22, 2024
Changed: Sep 6
Last Checked: Sep 7 at 7:44AM
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 Milwaukee
Investment Insights
Based on property information with market context.
This property presents multiple opportunities to be part of the Forest Mall redevelopment, conveniently located right off the I-41 Johnson St. exit. It features anchor and junior anchor opportunities between a new regional grocer and Kohl's department store. There is new outparcel development on W. Johnson Street. Parcel opportunities on Peters Avenue range from 0.74 to 4.70 acres. The property is located at 835 W Johnson St, Fond du Lac, WI 54935 and has a property size of 61100 square feet.
Key Highlights
- Part of the Forest Mall Redevelopment Project
- Anchor and Junior Anchor Opportunities Available
- Convenient Location Right Off I‑41 Johnson St. Exit
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
$275,343
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
7.34%
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%
$5,506,860
$5.5M
Cap Rate 7%
$3,933,471
$3.9M
Cap Rate 9%
$3,059,367
$3.1M
Market Conditions
NOI Build-Up for 61,100 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
$410.6K $6.72/SF
− Vacancy
−$17.2K −$0.28/SF
EGI
$393.3K $6.44/SF
− OpEx
−$118.0K −$1.93/SF
NOI
$275.3K $4.51/SF
Area
Fond du Lac County, WI
Vacancy
4.20%
Lease Rate
$6.72 /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%
$5,506,860
Cap Rate 7%
$3,933,471
Cap Rate 9%
$3,059,367
Alternative Uses
Best Use
Retail
$3.93M
$3.44M – $4.59M
NOI $275,343 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$58.88M
$51.52M – $68.69M
NOI $4,121,318 @ 7.0% cap · market cap 109.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
555
Businesses Nearby
634k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 29%
Superstores 27%
Dining 20%
Apparel 14%
Walmart
Superstores
97,951 visits/mo
0.3 miles
Target
Superstores
74,100 visits/mo
0.4 miles
Kwik Trip
Shops & Services
47,506 visits/mo
0.3 miles
Kohl's
Apparel
44,478 visits/mo
0.1 miles
T.J. Maxx
Apparel
42,464 visits/mo
0.1 miles
Demographics for 54935, WI
42,513
Population
19,115
Households
2.2
Avg Household Size
39
Median Age
23%
College-Educated
91%
High-School Grad
15.6 sq mi
ZIP Area
2,725
Density / Sq Mi
$63,060
Median Household Income
$41,338
Median Earnings
$880
Median Rent
$166,400
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Coinstar Kiosk - Bitcoin ATM — Roundy's Inc, 760 W Johnson St, Fond du Lac, WI 54935
Frequently Asked Questions
What type of property is this?
Shopping center - Land and retail space available in Forest Mall redevelopment.
Where is this shopping center located?
The property is located at 835 W Johnson St Fond du Lac, WI.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Part of the Forest Mall Redevelopment Project; Anchor and Junior Anchor Opportunities Available; Convenient Location Right Off I‑41 Johnson St. Exit
