What is the asking price for Heritage Village Mall?

The lease rate for space here is Contact for pricing.

What type of property tenancy can you find at Heritage Village Mall?

This property is listed as Multi-Tenant.

What is the total size of Heritage Village Mall?

The property has a total square footage of 172,278 SF.

When was this property built?

Heritage Village Mall was built in 1980.

How many parking spaces are available at Heritage Village Mall?

Parking information for the property isn't currently listed.

1645 N Spring St, Beaver Dam, WI 53916, Beaver Dam, WI 53916

For Sale $9,800,000
Property Type Retail - Street Retail
Property Size 172,278 SF
Lot Size 24.3 Acre
Property Tenancy Multi-Tenant
Year Built 1980
Year Renovated 2017
Date Updated May 13, 2026

Description

Strategically positioned along North Spring Street, Heritage Village anchors Beaver Dam’s primary retail corridor with outstanding visibility and access less than one mile from U.S. Highway 151. The property benefits from strong regional traffic and serves as the dominant retail destination in Dodge County, drawing shoppers from the entire Beaver Dam trade area.Anchored by Staples, Marshalls, Ross, Five Below, Dunham’s, Harbor Freight, and Shoe Sensation, Heritage Village represents a value-add retail investment offering immediate upside through lease-up of the ±14,900 SF former Joann space and potential outparcel development for QSR or coffee users. The property produces a stable rent roll supported by a strong mix of national credit tenants on long-term leases with staggered expirations and multiple renewal options. Market rents across comparable retail product in Beaver Dam demonstrate mark-to-market potential of 10–20% upon rollover. Given its dominant market position, high-traffic corridor location, and development potential, Heritage Village presents a rare opportunity to acquire a regional retail asset below replacement cost in a growing Wisconsin community.

Highlights

Accessible Location: Centrally positioned between Madison (40 mi) and Milwaukee (65 mi), serving as a regional retail and employment hub
Below Replacement Cost: Opportunity to acquire a large-format retail asset at a significant discount to replacement value
Dominant Retail Node: Beaver Dam’s primary shopping destination with regional draw from Dodge County and surrounding communities
Favorable Demographics: ±22,000 residents and average household income of $92,672 within a 5-mile radius
High Visibility Location: Prominent frontage along North Spring Street (6,700 VPD) with direct access to U.S. Highway 151
Market Rent Growth: In-place rents are 10–20% below current market, offering mark-to-market upside upon rollover
Outparcel Development Opportunity: Expansive parking field allows for potential QSR or coffee user pad development to enhance income and traffic
Strong Tenant Mix: Majority of tenants are national credit retailers with staggered expirations and multiple renewal options, ensuring stability
Value-Add Potential: ±14,900 SF vacant former Joann space offers immediate lease-up upside and flexibility for new tenant concepts