Ross/Marshalls Anchored Power Center - Milwaukee, MSA
Ross Anchored Power Center - Infill Location - Top Performing Tenants - 8.50% CAP
Marketing description
Loomis Centre is a 179,206-square-foot institutional-quality retail power center located at 3545 S 27th Street in Milwaukee, Wisconsin, within one of the city’s busiest retail corridors boasting over 51,000 vehicles per day. Built in 1998–1999 on more than 20 acres, the property is anchored by Ross, Michaels, Marshalls, Office Depot, TJ Maxx, Five Below, and Planet Fitness, providing a diverse and stable tenant base. Currently 97.4% occupied with one remaining 4,629-square-foot vacancy, Loomis Centre offers durable income and immediate upside potential. With an asking price of $18.6 million, the property generates an in-place NOI of $1.58 million (8.50% cap rate) and a projected 11.5% levered cash-on-cash return, supported by long-term leases extending through 2032 and beyond.
Highlights:
179,206 SF retail power center in a high-traffic corridor (51,000+ VPD)
Anchored by national tenants including Ross, Michaels, Marshalls, and Planet Fitness
97.4% occupied with one 4,629 SF inline vacancy for upside potential
Dense trade area: 374,000+ residents within 5 miles; $90K+ avg. household income
Asking price: $18.6M | NOI: $1.58M | Cap rate: 8.50%
Long-term stability: Key tenants committed through 2032+
Strong investment fundamentals in one of Milwaukee’s most established retail submarkets
Top Foot Traffic Rankings (Placer.ai):
Ross – #3 of 26 WI locations
Michaels – #2 of 18
Five Below – #2 of 30
Planet Fitness – #6 of 38
Office Depot – #2 of 9
dd’s Discounts – Only store in Wisconsin
Investment highlights
Institutional-Grade National Tenant Roster - Anchored by Ross, Michaels, Office Depot, Marshalls, and Planet Fitness, the center features a diverse lineup of credit tenants with strong national brands.
High Occupancy Reflects Strong Tenant Demand - Loomis Center is 97.4% occupied, demonstrating strong in-place tenancy across its 179,206 sf footprint.
High Traffic Retail Location - S 27th St sees up to 32,600 VPD, making it one of Milwaukee’s most trafficked north-south corridors, enhancing tenant visibility and access.
Opportunity to Lease Remaining 4,629 SF Inline Space - One inline suite remains vacant, representing a 2.6% vacancy and immediate lease-up upside within a proven retail environment.
Dense and Established Population Base Within 5-Mile Radius - Over 374,000 residents live within a 5-mile radius of Loomis Center, an area which remains one of Milwaukee’s most densely populated trade areas.
Strong Average Household Income - Average household income within 1 mile is $77,061 and exceeds $91,000 in the 5-mile radius, supporting a resilient retail base.
Anchor-Dominant Rent Roll Provides Stability - Anchors generate 63.97% of total income, supported by retail (26.42%), restaurant (7.26%), and service (2.35%) tenants—creating a balanced and dependable revenue stream.
Key Tenants Committed Through 2032 and Beyond - Michaels, dd’s Discounts, and Planet Fitness are all secured under long-term leases expiring in 2032 or later, providing investors with durable cash flow from nationally recognized brands.
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