Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a 15,238 square foot neighborhood retail center located in Shawano, Wisconsin. This opportunity is offered at an 9.05% CAP rate with an asking price of $1,331,000. The seller is willing to finance up to $250,000 at an interest rate of 5.5%, enabling a buyer to leverage into the property at a high LTV. The property is occupied by a selection of regional tenants, many of whom are multi-unit operators. All tenants reimburse for Real Estate taxes for their pro-rata share of the building. One unit (roughly 1,300 square feet) is recently vacant, but the seller is willing to guarantee the balance of rent owed through the duration of the lease. There is some upside by backfilling the space with a new tenant paying closer to market rent. At the current asking price there is a day 1 cash-on-cash return of 9.94%, with currently available debt. The pro forma cash on cash return, once stabilized is over 10.5%. Priced at $87.35/sf, this center could not be built today for the current asking price. The property is easily accessible, there are multiple points of ingress and egress. The asset is strategically positioned in Shawano’s historic downtown, with national tenants surrounding the subject location. Please reach out to Marcus & Millichap with additional questions and interest.