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Shopping Neighborhood

FESTIVAL FOODS ANCHORED SHOPPING CENTER

25110 75th St, Salem, WI 53168

Listing Price: $9,500,000

Cap Rate
7.20%
Gross SF
50,980
Rentable SF
50,980
Price/Gross SF
$186.35
Lot Size
6.52 acres
Year Built
1980

Investment Overview

LOCATION ADJACENT TO AURORA URGENT CARE GREAT VISIBILITY FROM 75TH STREET MARKET OCCUPANCY OF 98.1% - RETAIL DEMOGRAPHICS OVER 22,800 RESIDENTS WITHIN FIVE MILES AVERAGE HOUSEHOLD INCOME OF $101,389 WITHIN FIVE MILES 75TH STREET TRAFFIC COUNTS – 15,535 (2018)

Investment Highlights

  • MULTI-TENANT RETAIL BUILDING 50,980 +/- SQUARE FEET SIX LEASED UNITS (95.10% OCCUPIED) ONE VACNT UNIT (4.90% GLA)
  • FESTIVAL FOODS LEASED THROUGH FEBRUARY 2031 1.5% ANNUAL RENTAL INCREASES CORPORATE GUARANTEE –39 STORES AND GROWING
  • DOLLAR TREE NEW FIVE YEAR EXTENSION (EXTENDED IN 2022) REBRANDED – FAMILY DOLLAR TO DOLLAR TREE CORPORATE GUARANTEE – 16,000+ LOCATIONS
  • MIDWEST DENTAL OCCUPIED SINCE 2013 (EXTENDED IN 2020) 2.0% ANNUAL RENTAL INCREASES CORPORATE GUARANTEE – 138 LOCATIONS
  • ATHLETICO PHYSICAL THERAPY OCCUPIED SINCE 1993 (EXTENDED IN 2019) 2.0% ANNUAL RENTAL INCREASES 900+ LOCATIONS IN 25 STATES
  • CRAWFORD ORTHODONTICS NEW FIVE YEAR EXTENSION (EXTENDED IN 2022) 3.0% ANNUAL RENTAL INCREASES TWO LOCATIONS (PADDOCK LAKE & KENOSHA)
  • H&R BLOCK NEW FIVE YEAR EXTENSION (EXTENDED IN 2022) 3.0% ANNUAL RENTAL INCREASES 9,000+ LOCATIONS
  • ALL LEASES ARE TRIPLE-NET (LANDLORD RESPONSIBLE FOR ROOF & STRUCTURE)

Exclusively Listed By

  • Jeff R. Rowlett

    Senior Managing Director Investments

    (262) 364-1924

    Email Jeff

    License(s): WI: 74743-94, IL: 471.016866

    Milwaukee

Shopping Neighborhood

FESTIVAL FOODS ANCHORED SHOPPING CENTER

Listing Price: $9,500,000

Cap Rate
7.20%
Gross SF
50,980
Rentable SF
50,980
Price/Gross SF
$186.35
Lot Size
6.52 acres
Year Built
1980

Investment Highlights

  • MULTI-TENANT RETAIL BUILDING 50,980 +/- SQUARE FEET SIX LEASED UNITS (95.10% OCCUPIED) ONE VACNT UNIT (4.90% GLA)
  • FESTIVAL FOODS LEASED THROUGH FEBRUARY 2031 1.5% ANNUAL RENTAL INCREASES CORPORATE GUARANTEE –39 STORES AND GROWING
  • DOLLAR TREE NEW FIVE YEAR EXTENSION (EXTENDED IN 2022) REBRANDED – FAMILY DOLLAR TO DOLLAR TREE CORPORATE GUARANTEE – 16,000+ LOCATIONS
  • MIDWEST DENTAL OCCUPIED SINCE 2013 (EXTENDED IN 2020) 2.0% ANNUAL RENTAL INCREASES CORPORATE GUARANTEE – 138 LOCATIONS
  • ATHLETICO PHYSICAL THERAPY OCCUPIED SINCE 1993 (EXTENDED IN 2019) 2.0% ANNUAL RENTAL INCREASES 900+ LOCATIONS IN 25 STATES
  • CRAWFORD ORTHODONTICS NEW FIVE YEAR EXTENSION (EXTENDED IN 2022) 3.0% ANNUAL RENTAL INCREASES TWO LOCATIONS (PADDOCK LAKE & KENOSHA)
  • H&R BLOCK NEW FIVE YEAR EXTENSION (EXTENDED IN 2022) 3.0% ANNUAL RENTAL INCREASES 9,000+ LOCATIONS
  • ALL LEASES ARE TRIPLE-NET (LANDLORD RESPONSIBLE FOR ROOF & STRUCTURE)

Investment Overview

LOCATION ADJACENT TO AURORA URGENT CARE GREAT VISIBILITY FROM 75TH STREET MARKET OCCUPANCY OF 98.1% - RETAIL DEMOGRAPHICS OVER 22,800 RESIDENTS WITHIN FIVE MILES AVERAGE HOUSEHOLD INCOME OF $101,389 WITHIN FIVE MILES 75TH STREET TRAFFIC COUNTS – 15,535 (2018)

Exclusively Listed By

  • Jeff R. Rowlett

    Senior Managing Director Investments

    (262) 364-1924

    Email Jeff

    License(s): WI: 74743-94, IL: 471.016866

    Milwaukee

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