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Grocery Store

Piggly Wiggly

6 W Oak St, Boscobel, WI 53805

Listing Price: $1,330,000

Cap Rate
8.00%
Tenant Name
Piggly Wiggly
Years Remaining On Lease
4.1
Guarantor
Corporate Guarantee
Rentable SF
30,700
Lease Type
Double Net
Rent Per Square Feet
$3.82

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a Piggly Wiggly located in Boscobel, Wisconsin. This 30,700 square-foot asset is priced at an 8% CAP rate, with a list price of $1,330,000. This location has been a grocery store for over two decades; it was originally a Dick’s Supermarket and subsequently became a Piggly Wiggly when Piggly acquired Dick’s. There are just over 2 years remaining on the NN lease in place. Landlord is only responsible for replacement of roof, parking
lot and structure.

This location reports sales and enjoys a healthy rent-to-sales ratio of approximately 1.3 percent. Priced at $43 per square foot, this property could not be built today for even a quarter of the current asking price. The asset is strategically positioned in downtown Boscobel, adjacent to the Gunderson Boscobel Area Hospital. This location benefits from multiple points of ingress and egress, making it easily accessible. This is the only grocery store in the city of Boscobel.

The tenant under the lease is Piggly Wiggly Midwest, who was purchased by C&S Wholesale Grocers, INC in 2021. C&S is the 8th largest privately held company in the United States with reportedly over $30 Billion in annual revenue.

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

Investment Highlights

  • High Performing Location With Strong Store Sales
  • Favorable Rent-to-Sales Ratio Below 1.3 Percent
  • Above Market Return – Offered at an 8 Percent CAP
  • Large Format Piggly Wiggly Offered at a Bite-Size Price Point of $1.33 Million
  • Beyond Favorable Basis – Opportunity to Purchase the Property for $43 per Square Foot
  • Short-Term Double-Net Lease with Two Years of Firm Term Remaining
  • Two, Five Year Options Remain with 5 Percent Rental Escalations at the Start of Each Option Period
  • Limited Competition | Only Grocery Store in Boscobel

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s) WI: 56163-90

    Wisconsin

Grocery Store

Piggly Wiggly

Listing Price: $1,330,000

Cap Rate
8.00%
Tenant Name
Piggly Wiggly
Years Remaining On Lease
4.1
Guarantor
Corporate Guarantee
Rentable SF
30,700
Lease Type
Double Net
Rent Per Square Feet
$3.82

Investment Highlights

  • High Performing Location With Strong Store Sales
  • Favorable Rent-to-Sales Ratio Below 1.3 Percent
  • Above Market Return – Offered at an 8 Percent CAP
  • Large Format Piggly Wiggly Offered at a Bite-Size Price Point of $1.33 Million
  • Beyond Favorable Basis – Opportunity to Purchase the Property for $43 per Square Foot
  • Short-Term Double-Net Lease with Two Years of Firm Term Remaining
  • Two, Five Year Options Remain with 5 Percent Rental Escalations at the Start of Each Option Period
  • Limited Competition | Only Grocery Store in Boscobel

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a Piggly Wiggly located in Boscobel, Wisconsin. This 30,700 square-foot asset is priced at an 8% CAP rate, with a list price of $1,330,000. This location has been a grocery store for over two decades; it was originally a Dick’s Supermarket and subsequently became a Piggly Wiggly when Piggly acquired Dick’s. There are just over 2 years remaining on the NN lease in place. Landlord is only responsible for replacement of roof, parking lot and structure. This location reports sales and enjoys a healthy rent-to-sales ratio of approximately 1.3 percent. Priced at $43 per square foot, this property could not be built today for even a quarter of the current asking price. The asset is strategically positioned in downtown Boscobel, adjacent to the Gunderson Boscobel Area Hospital. This location benefits from multiple points of ingress and egress, making it easily accessible. This is the only grocery store in the city of Boscobel. The tenant under the lease is Piggly Wiggly Midwest, who was purchased by C&S Wholesale Grocers, INC in 2021. C&S is the 8th largest privately held company in the United States with reportedly over $30 Billion in annual revenue. Please reach out to Marcus & Millichap with additional questions or 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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