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Property profile & analytics
OFF-MARKET
Estimated value
$3,660,000
Outlet malls
3009 Zuehlke Dr Appleton, WI 54911-8799
Entity Owned
3-yr Hold
Free & Clear
Property ID
US92-0157450
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1993
Construction
STEEL FRAME
Total area
46,800 SF
Lot
2.76 ac (120,226 SF)
Zoning code
M1
APN
31-1-5348-00
UPID
US92-0157450
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
-
Able Distributing Plumbing Service Building Supply
-
Able Kitchen & Bath Showplace Plumbing Service Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.03M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.46M
Blend (final)
Blend
$3.66M
Owner & transaction history
Md7 Appleton LLC · 3 yrs held
Md7 Appleton LLC
since 2023
Last sale
$3.0M
6 recorded transactions
Zoning & alternative use
M1 · Appleton, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$6.1M
+67.6%
Warehouse, storage
$5.2M
+43.4%
Commercial (general)
$4.4M
+22.2%
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
$3,840,000
ML approach
$4,030,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,625,000
Current use
OFFICE BUILDING
$6,075,000
Change: +68% · Conversion: Easy
WAREHOUSE, STORAGE
$5,195,000
Change: +43% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,430,000
Change: +22% · Conversion: Easy
RESTAURANT
$3,365,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$3.66M
Range $3.29M – $4.03M · ±10% · vs last sale $2.95M (May 2 2023)
Last sale anchor
$2.95M
May 2 2023
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
$78 / 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
$46,336
Tax year 2023
Assessed value
$2,855,000
Assessed 2023
Previous assessed
$1,872,000
+52.5% YoY
Effective rate
1.62%
On assessed value
Assessed land
$110,400
Assessed improvement
$2,744,600
Land market value
$116,361
Improvement market value
$2,892,791
Total market value
$3,009,152
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1993
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Stories
1
Total area
46,800 SF
Lot
2.76 ac (120,226 SF)
Zoning code
M1
APN
31-1-5348-00
UPID
US92-0157450
Jurisdiction
OUTAGAMIE
Zoning & alternative use
M1 · Appleton, WIZoning M1 · permitted uses
M1 · Appleton, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.6M
OFFICE BUILDING
Est. value
$6.1M
WAREHOUSE, STORAGE
Est. value
$5.2M
COMMERCIAL (GENERAL)
Est. value
$4.4M
RESTAURANT
Est. value
$3.4M
RETAIL STORES Current
OFFICE BUILDING
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
RESTAURANT
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
1993
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
2.76 ac
Current owner
From public records · entity-resolved
Md7 Appleton LLC
Entity
Free & Clear · 3 yrs held
Mailing address
417 1ST AVE SE, CEDAR RAPIDS, IA 52401-1309
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 14, 2025
—
Md7 Appleton LLC
—
Deed
related
$107,315,000 · Wells Fargo Bank NA
May 2, 2023
$2,950,000
Md7 Appleton LLC
Hendricks Commercial Properties LLC
Warranty Deed
—
Dec 14, 2020
—
Hendricks Coml Prop LLC
—
Deed
related
$343,168,000 · Bank Of America
Jul 26, 2013
$1,800,000
Hendricks Commercial Props LLC
Washington Street Ents LLP
Grant Deed
—
Mar 4, 2004
—
Washington Street Enterprises
Washington Street Enterprises
Quit Claim Deed
related
—
—
—
Hendricks Coml Prop LLC
—
Deed Of Trust
related
$343,168,000 · Bank Of America
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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