Shopping Strip
Lineville Station
2445-2465 Lineville Rd, Howard (Green Bay Metro), WI 54313
Listing Price: $5,400,000
Investment Overview
Marcus & Millichap proudly presents Lineville Station, a 67,670-square-foot grocery anchored shopping center on Lineville Road in Howard, Wisconsin (Green Bay Metro). The property is currently 90 Percent occupied and is situated on the main retail strip, approximately 120 miles north of Milwaukee and 8 miles north of the historic Lambeau Field. The area boasts strong fundamentals with a traffic count of more than 21,000 vehicles per day and an average household income in a one-mile radius of over $100,000. The shopping center is anchored by Piggly Wiggly Midwest with Over 120 Locations. At the list price, this deal offers a new owner the ability to inherit an above-market yearly return at a price of $79.80 per square foot well below replacement cost. Year 2 underwriting is assuming 100% occupancy with vacant spaces at $11 NNN PSF and a 5% vacancy fee. Piggly Wiggly has Long Dominated the Wisconsin Grocery Market. Their abilities to consistently maintain low prices and pay lower rents than their competitors have led to their market dominance. Further, their saturation of this market throughout the years has given them premier sites. Piggly Wiggly Midwest was acquired by C&S Wholesale Grocers, Inc in 2021. C&S Grocers, Inc, which is an industry leader in supply chain solutions and wholesale grocery suppliers in the U.S. C&S is based in Keene, New Hampshire, and is the largest privately held wholesale grocery supply company in the U.S. This is an excellent opportunity to acquire a value-add asset in an excellent location. Given the current capital markets, a leveraged purchase will yield a cash-on-cash return of 8.72 percent return.
Investment Highlights
- Piggly Wiggly is Wisconsin Shoppers' Favorite Grocery Store with Over 120 Locations Source: (Ozaukee Co. Business News | gmtoday.com)
- All Tenants Operate Under NNN Leases Reimbursing their Pro-Rata Share of Expenses
- The Center Has a Strong History of Long Term Tenancies, Average of 11 Years
- Benefits from Low Brown County Taxes
- Huge Value-Add Opportunity-90 Percent Occupied | Priced Well Below Replacement Cost at $79.80 PSF
- Piggly Wiggly Opened its First Location in 1916 and is Notable for Having the First True Self-Service Grocery Store in the U.S.
- Recent Leasing Velocity I Five Tenants Have Recently Extended or Moved in
Exclusively Listed By
Broker of Record
-
Todd Lindblom
First Vice President/Regional Manager
Financing By
Listing Price: $5,400,000
Investment Highlights
- Piggly Wiggly is Wisconsin Shoppers' Favorite Grocery Store with Over 120 Locations Source: (Ozaukee Co. Business News | gmtoday.com)
- All Tenants Operate Under NNN Leases Reimbursing their Pro-Rata Share of Expenses
- The Center Has a Strong History of Long Term Tenancies, Average of 11 Years
- Benefits from Low Brown County Taxes
- Huge Value-Add Opportunity-90 Percent Occupied | Priced Well Below Replacement Cost at $79.80 PSF
- Piggly Wiggly Opened its First Location in 1916 and is Notable for Having the First True Self-Service Grocery Store in the U.S.
- Recent Leasing Velocity I Five Tenants Have Recently Extended or Moved in
Investment Overview
Marcus & Millichap proudly presents Lineville Station, a 67,670-square-foot grocery anchored shopping center on Lineville Road in Howard, Wisconsin (Green Bay Metro). The property is currently 90 Percent occupied and is situated on the main retail strip, approximately 120 miles north of Milwaukee and 8 miles north of the historic Lambeau Field. The area boasts strong fundamentals with a traffic count of more than 21,000 vehicles per day and an average household income in a one-mile radius of over $100,000. The shopping center is anchored by Piggly Wiggly Midwest with Over 120 Locations. At the list price, this deal offers a new owner the ability to inherit an above-market yearly return at a price of $79.80 per square foot well below replacement cost. Year 2 underwriting is assuming 100% occupancy with vacant spaces at $11 NNN PSF and a 5% vacancy fee. Piggly Wiggly has Long Dominated the Wisconsin Grocery Market. Their abilities to consistently maintain low prices and pay lower rents than their competitors have led to their market dominance. Further, their saturation of this market throughout the years has given them premier sites. Piggly Wiggly Midwest was acquired by C&S Wholesale Grocers, Inc in 2021. C&S Grocers, Inc, which is an industry leader in supply chain solutions and wholesale grocery suppliers in the U.S. C&S is based in Keene, New Hampshire, and is the largest privately held wholesale grocery supply company in the U.S. This is an excellent opportunity to acquire a value-add asset in an excellent location. Given the current capital markets, a leveraged purchase will yield a cash-on-cash return of 8.72 percent return.
Exclusively Listed By
Broker of Record
-
Todd Lindblom
First Vice President/Regional Manager
Financing By

