Listed by CBRE - Madison, CBRE - Atlanta, CBRE Atlanta
$2,662,830
Walgreens: Jackson, WI
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 174,765
Cap Rate 7.75%
NOI $206,369
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Term 24.3
Lease Expiration 06/20/2038
Remaining Term 11.9
Rent Bumps No
Lease Options Eleven, 5-Year Options
Price per SqFt $15
Year Built 2008
Buildings 1
Acreage 2.570
Parking Spaces 85 spaces
Parking per 1,000 SqFt 0.49
Investment Type Net Lease
Lease Commencement 03/14/2014
Retail | 7.75% CAP | 174,765 SqFt
Marketing description
CBRE is pleased to offer for sale the 14,765-square-foot Walgreens situated on 2.57 acres in Jackson, Wisconsin—part of the Milwaukee-Waukesha, WI MSA (Population: 1.57M+). Originally set to expire in 2034, Walgreens’ absolute NNN lease was extended through 2038 and now features ±12.0 years of primary term remaining with eleven, 5-year options to renew.
Investment highlights
- Originally set to expire in 2034, Walgreens’ absolute NNN lease was extended through 2038 and now features ±12.0 years of primary term remaining with eleven, 5-year options to renew.
- Located less than 32 miles northwest of downtown Milwaukee, Walgreens is positioned with excellent access and visibility at the hard corner of the signalized intersection of Industrial Drive and Main Street (12,800 VPD), where it is and is less than a mile to the on-ramp for West Bend Freeway (32,600 VPD).
- Walgreens is within 1.5 MSF of retail and 1,292 multifamily units within 5-miles. Retail synergies in the area include Piggly Wiggly, Ace Hardware, McDonald’s, Dairy Queen Grill & Chill, Culver’s, Domino’s Pizza, Subway, BMO Bank, Edward Jones and H&R Block, to name a few.
- Additionally, the property is within a heavy industrial corridor (8.0 MSF of industrial within 5-miles), championed by the Jackson Northwest Business Park, which is home to tenants like ABC Supply Co., SupplyOne, Germantown Iron, Universal Strap, Rytec, Willer Tool and Sysco, boosting daytime population and the local economy.
- Walgreens is part of the Milwaukee-Waukesha, WI Metropolitan Statistical Area (MSA Population: 1.57M+), which is Wisconsin’s largest metropolitan area.
Listing Contacts
Listed by CBRE - Madison, CBRE - Atlanta, CBRE Atlanta
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$206,369.00
$17,197.42/mo
Valuation Metrics
0
DSCR
7.75%
Cap Rate
7.75%
ROI
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