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)
FESTIVAL FOODS ANCHORED SHOPPING CENTER
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
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
