Walgreens
Retail | 8.75% CAP | 14,490 SqFt
Marketing description
Walgreens has operated at this location since 2004, reflecting more than 20 years of continuous occupancy. The Property is backed by an absolute NNN lease with zero landlord responsibilities and features ten five-year renewal options, with three years and one month remaining on the current term. The store is outperforming the national average, reinforcing its position as a productive retail location. Muskego is one of the most affluent suburbs in the Milwaukee metro, with average household income within a five-mile radius projected to grow from $145,615 in 2024 to $165,942 by 2029—an annual growth rate of 2.65 percent.
Investment highlights
Established Tenancy With Strong In-Place Sales and Passive Lease Structure
Walgreens has operated at the site for 20+ years. Absolute NNN lease with three years and one month remaining and $2.6M annual sales.
Affluent Trade Area with Consistent Income Growth
Avg. household income (5-mile): $145,615. Projected to grow 2.65% annually through 2029.
Hard Corner Location with Excellent Access and Visibility
Signalized intersection at Janesville Rd & Racine Ave. 24,000+ combined VPD with dual ingress/egress.
Established Retail Corridor with Diverse Tenancy
Surrounded by Pick n' Save (Kroger), Dollar Tree, Piggly Wiggly, and Culver’s. Positioned within Muskego’s main commercial corridor.
Modern Building on a Spacious Parcel
14,490 SF building on 2.87 acres. Drive-thru and ample parking.
Ongoing Commercial Development Enhancing Trade Area
Parkland Towne Center: 90 residential units, +53,000 SF commercial. Backed by Muskego’s TIF District #11 to spur corridor revitalization.
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