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FOR SALE
Investment properties
122 E College Ave, Appleton, WI 54911
Individually Owned
Free & Clear
Property ID
US92-1161256
For Sale
1 / 2
$3,067,977
122 E College Ave, Appleton, WI 54911
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Property summary
AI-generated overview
This Class A office building, located at 122 E College Ave in Appleton, WI 54911, offers 164,695 square feet of prime office space. Built in 1970, the property boasts a desirable downtown location within Outagamie County, providing easy access to Appleton's central business district. Currently, 79,148 square feet are vacant, with multiple suites available ranging from 5,801 to 24,640 square feet. The building features convenient amenities including one passenger elevator, one freight elevator, and two enclosed truck docks. Ample parking is provided with 1200 spaces. The property is ideal for executive office or medical office uses, and benefits from the vibrant downtown Appleton environment, including a new exposition center and performing arts center, with additional multifamily projects planned. This is a rare opportunity to secure high-quality office space in a thriving Wisconsin city. The property is categorized as a multi-tenant building.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1970
Total area
10,965 SF
Lot
0.1 ac (4,356 SF)
Zoning code
CBD
APN
31-2-0282-06
UPID
US92-1161256
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Appleton Education Foundation Association / Organization
-
Willis Personal Lines: Lafave Denise Insurance Agency
-
Long Greg MD Pediatrician Physician
-
Valley New School High School
-
Appleton Schools Superintendent High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$989k
Blend (final)
Blend
$1.01M
Owner & transaction history
Lawrence University Of Wisconsin
Lawrence University Of Wisconsin
since 2025
7 recorded transactions
Zoning & alternative use
CBD · Appleton, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.5M
+47.7%
Office building
$1.4M
+37.1%
Warehouse, storage
$1.2M
+17.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Appleton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Appleton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,040,000
Current use
AUTO REPAIR, GARAGE
$1,535,000
Change: +48% · Conversion: Difficult
OFFICE BUILDING
$1,425,000
Change: +37% · Conversion: Easy
WAREHOUSE, STORAGE
$1,215,000
Change: +17% · Conversion: Difficult
RETAIL STORES
$850,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$1.01M
Range $909k – $1.11M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$92 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$11,001
Tax year 2023
Assessed value
$658,000
Assessed 2023
Previous assessed
$674,300
-2.4% YoY
Effective rate
1.67%
On assessed value
Assessed improvement
$658,000
Improvement market value
$693,528
Total market value
$693,528
Applied tax rate
201.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Sale
Year built
1970
Heating
NONE
Stories
1
Total area
10,965 SF
Lot
0.1 ac (4,356 SF)
Zoning code
CBD
APN
31-2-0282-06
UPID
US92-1161256
Jurisdiction
OUTAGAMIE
Zoning & alternative use
CBD · Appleton, WI
Zoning CBD · permitted uses
CBD · Appleton, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Appleton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$1.2M
RETAIL STORES
Est. value
$850,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1970
Heating
NONE
Stories
1
Lot
0.1 ac
Current owner
From public records · entity-resolved
Lawrence University Of Wisconsin
Individual
Free & Clear · 0 yrs held
Mailing address
122 E COLLEGE AVE STE 1B, APPLETON, WI 54911-5741
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 31, 2025
$2,382,000
Lawrence University Of Wisconsin
Pfefferle Investments INC
Warranty Deed
—
Jul 18, 2025
$225,000
J Geiger Resources LLC
Wa Street Re Investment Fund I LLC
Warranty Deed
$180,000 · Us Bank NA
May 23, 2025
$550,000
Ffork Ventures LLC
Wa Street Re Investment Fund I LLC
Warranty Deed
$440,000 · Capital Cu
May 23, 2025
—
Washington Street Real Estate Inves
Ss Hoffman Holdings LLC
Quitclaim Deed
related
—
Mar 31, 2023
$985,000
Appleton Education Foundation INC
Washington Street Real Estate Inves
Warranty Deed
—
Dec 6, 2022
$1,081,210
Ss Hoffman Holdings LLC
Ama Pfefferle Partnership LLP
Warranty Deed
—
Nov 6, 2019
—
Pfefferie Investment INC
—
Deed
related
$239,676 · Bmo Harris Bk NA
—
—
Appleton Education Foun INC
—
Deed Of Trust
related
$235,000 · M & I Marshall & Isley Bank
—
—
Appleton Education Foun INC
—
Deed Of Trust
related
$230,000 · M & I Marshall & Isley Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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