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Shopping Strip

Goodwill Anchored Retail

1804 Lake Shore Dr E, Ashland, WI 54806

Listing Price: $1,790,000

Cap Rate
8.25%
Gross SF
20,200
Rentable SF
20,200
Price/Gross SF
$88.61
Lot Size
2.43 acres
Year Built
1991

Investment Overview

Marcus and Millichap is pleased to present the fee simple interest in 1804 Lake Shore Dr E, an 18,831 square foot, retail center, located in Ashland, Wisconsin. This opportunity is offered at an 8.25% CAP rate, at an asking price of $1,790,000.

The subject asset is anchored by Goodwill Industries, who just signed a fresh 5-year lease. They occupy over half of the center and reimburse for their pro-rata share of taxes, CAM, and insurance. The other tenants include Charter Communications and Snap Fitness. The property is a fully stabilized, 100% occupied retail center, priced significantly below its replacement cost at $95.06/SF. The asset is adjacent to a Tractor Supply Co. and a L&M Fleet Supply.

In 2023, ownership replaced the roof and parking lot. The tenants agreed to contribute to these capital repairs and are currently repaying the cost associated with these expenses through the next 5 years.

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

Investment Highlights

  • Over 60% of the property's income comes from Goodwill Industries, who just signed a fresh 5YR lease
  • Ownership just replaced the roof and parking lot, tenants contributed to these projects and are currently repaying the cost over the next 5 years
  • Goodwill occupies 53% of the GLA and reimburses for their proportionate share of taxes, CAM and insurance
  • Fully Stabilized 3-tenant, 18,831 SF Strip Center | 8.25% CAP Rate
  • Well Positioned in a Dense Retail Corridor | National Tenants Surround the Subject Asset (Tractor Supply Co, Walmart Supercenter, O'Reilly Auto Parts, and more.)
  • Priced Significantly Below Replacement Cost | Priced at a $95.06 /SF

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s) WI: 56163-90

    Wisconsin

Shopping Strip

Goodwill Anchored Retail

Listing Price: $1,790,000

Cap Rate
8.25%
Gross SF
20,200
Rentable SF
20,200
Price/Gross SF
$88.61
Lot Size
2.43 acres
Year Built
1991

Investment Highlights

  • Over 60% of the property's income comes from Goodwill Industries, who just signed a fresh 5YR lease
  • Ownership just replaced the roof and parking lot, tenants contributed to these projects and are currently repaying the cost over the next 5 years
  • Goodwill occupies 53% of the GLA and reimburses for their proportionate share of taxes, CAM and insurance
  • Fully Stabilized 3-tenant, 18,831 SF Strip Center | 8.25% CAP Rate
  • Well Positioned in a Dense Retail Corridor | National Tenants Surround the Subject Asset (Tractor Supply Co, Walmart Supercenter, O'Reilly Auto Parts, and more.)
  • Priced Significantly Below Replacement Cost | Priced at a $95.06 /SF

Investment Overview

Marcus and Millichap is pleased to present the fee simple interest in 1804 Lake Shore Dr E, an 18,831 square foot, retail center, located in Ashland, Wisconsin. This opportunity is offered at an 8.25% CAP rate, at an asking price of $1,790,000. The subject asset is anchored by Goodwill Industries, who just signed a fresh 5-year lease. They occupy over half of the center and reimburse for their pro-rata share of taxes, CAM, and insurance. The other tenants include Charter Communications and Snap Fitness. The property is a fully stabilized, 100% occupied retail center, priced significantly below its replacement cost at $95.06/SF. The asset is adjacent to a Tractor Supply Co. and a L&M Fleet Supply. In 2023, ownership replaced the roof and parking lot. The tenants agreed to contribute to these capital repairs and are currently repaying the cost associated with these expenses through the next 5 years. 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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