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Shopping Strip

US Government Anchored Retail Pad | 9% CAP

3074 Village Park Dr, Plover, WI 54467

Listing Price: $1,049,000

Cap Rate
9.00%
Gross SF
6,000
Rentable SF
6,000
Price/Gross SF
$174.83
Lot Size
0.55 acres
Year Built
2008

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in 3074 Village Park Dr, a 6,000 square foot retail padsite to a larger shopping center, located in Plover, Wisconsin. This opportunity is offered at an 8% CAP rate on the in-place net operating income, at an asking price of $1,049,000.

The property is anchored by a US Armed Forces career center, with the lease backed by the US Government (S&P Credit Rating AA+). There is one vacant unit, which accounts for roughly 28% of the building. The in-place lease structures, along with the vacancy, provides a significant value-add opportunity for investors looking for a double-digit CAP rate on a pro forma basis. Once fully occupied, the cash-on-cash return should approach 15%.

The property is well situated on an outparcel to a 45,000 SF shopping center, just off the exit and on ramp of Interstate 35. It neighbors a 64-key Hampton Inn and is surrounded by a plethora of national retailers and restaurant tenants. The property has been well maintained by current ownership, and there is no known deferred maintenance.

Please reach out to Marcus & Millichap with additional questions and interest.

Investment Highlights

  • 78% of the Existing Cash-Flow is Backed by the United States Government (S&P Credit Rating AA+)
  • The US Armed Forces Just Extended for 5 Years of Firm Term
  • Value-Add Opportunity | Current Occupancy of 72%
  • Pro Forma CAP rate of 10.36% | Pro Forma Cash-On-Cash Return of 14.73%, Achievable by Leasing up the Last Remaining Vacancy
  • Well Positioned in a Dense Retail Corridor
  • Extremely low basis for a retail padsite – offered at $174 per Square Foot

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s) WI: 56163-90

    Wisconsin

Shopping Strip

US Government Anchored Retail Pad | 9% CAP

Listing Price: $1,049,000

Cap Rate
9.00%
Gross SF
6,000
Rentable SF
6,000
Price/Gross SF
$174.83
Lot Size
0.55 acres
Year Built
2008

Investment Highlights

  • 78% of the Existing Cash-Flow is Backed by the United States Government (S&P Credit Rating AA+)
  • The US Armed Forces Just Extended for 5 Years of Firm Term
  • Value-Add Opportunity | Current Occupancy of 72%
  • Pro Forma CAP rate of 10.36% | Pro Forma Cash-On-Cash Return of 14.73%, Achievable by Leasing up the Last Remaining Vacancy
  • Well Positioned in a Dense Retail Corridor
  • Extremely low basis for a retail padsite – offered at $174 per Square Foot

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in 3074 Village Park Dr, a 6,000 square foot retail padsite to a larger shopping center, located in Plover, Wisconsin. This opportunity is offered at an 8% CAP rate on the in-place net operating income, at an asking price of $1,049,000. The property is anchored by a US Armed Forces career center, with the lease backed by the US Government (S&P Credit Rating AA+). There is one vacant unit, which accounts for roughly 28% of the building. The in-place lease structures, along with the vacancy, provides a significant value-add opportunity for investors looking for a double-digit CAP rate on a pro forma basis. Once fully occupied, the cash-on-cash return should approach 15%. The property is well situated on an outparcel to a 45,000 SF shopping center, just off the exit and on ramp of Interstate 35. It neighbors a 64-key Hampton Inn and is surrounded by a plethora of national retailers and restaurant tenants. The property has been well maintained by current ownership, and there is no known deferred maintenance. Please reach out to Marcus & Millichap with additional questions and interest.

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s): WI: 56163-90

    Wisconsin

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