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Shopping Neighborhood

Absolute Net Leased Grocery Store | Low Rent-to-Sales Ratio

714 S Wisconsin Dr, Howards Grove, WI 53083

Listing Price: $2,035,000

Cap Rate
7.75%
Gross SF
24,268
Rentable SF
24,268
Price/Gross SF
$83.86
Lot Size
3.46 acres
Year Built
1970

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a Piggly Wiggly Grocery Store located in Howards Grove, Wisconsin. This 24,268 square foot asset is priced at a 8 percent CAP rate, or a list price of $2,035,000. Piggly Wiggly has been operating from the subject location since 1997. There are just under four years remaining on the NNN lease in place. Under the lease, the landlord has no responsibilities for the physical maintenance of the building, replacement of the capital systems, insurance, or real estate taxes.

This is a high performing store with a sustainable rent-to-sales ratio of 2 percent. Priced at $84 per square foot, this property could not be built today for even double the current asking price. This site benefits from multiple points of ingress and egress, making it easily accessible.

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.

Howard’s Grove is an affluent small town located near Sheboygan, Wisconsin. This Piggly location is the only grocery store in town, and average household incomes exceed $100,000 annually.

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

Investment Highlights

  • Highly Landlord Favorable NNN Lease
  • Strong Performing Store with a Very Low Rent/Sales Ratio of 2.35 Percent
  • Above Market Return – Offered at a 8 Percent CAP Rate
  • Offered at an Appealing Basis for a NNN Grocery Store – Available for Purchase at Only $84 per Square Foot
  • Two 5-Year Options Remain | 3.85 Percent Rental Escalations at the Start of Each Option Period
  • Limited Competition | Only Grocery Store in Howards Grove
  • Affluent Area | Average Household Income of $101,561 within a Five-Mile Radius

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s) WI: 56163-90

    Wisconsin

Shopping Neighborhood

Absolute Net Leased Grocery Store | Low Rent-to-Sales Ratio

Listing Price: $2,035,000

Cap Rate
7.75%
Gross SF
24,268
Rentable SF
24,268
Price/Gross SF
$83.86
Lot Size
3.46 acres
Year Built
1970

Investment Highlights

  • Highly Landlord Favorable NNN Lease
  • Strong Performing Store with a Very Low Rent/Sales Ratio of 2.35 Percent
  • Above Market Return – Offered at a 8 Percent CAP Rate
  • Offered at an Appealing Basis for a NNN Grocery Store – Available for Purchase at Only $84 per Square Foot
  • Two 5-Year Options Remain | 3.85 Percent Rental Escalations at the Start of Each Option Period
  • Limited Competition | Only Grocery Store in Howards Grove
  • Affluent Area | Average Household Income of $101,561 within a Five-Mile Radius

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a Piggly Wiggly Grocery Store located in Howards Grove, Wisconsin. This 24,268 square foot asset is priced at a 8 percent CAP rate, or a list price of $2,035,000. Piggly Wiggly has been operating from the subject location since 1997. There are just under four years remaining on the NNN lease in place. Under the lease, the landlord has no responsibilities for the physical maintenance of the building, replacement of the capital systems, insurance, or real estate taxes. This is a high performing store with a sustainable rent-to-sales ratio of 2 percent. Priced at $84 per square foot, this property could not be built today for even double the current asking price. This site benefits from multiple points of ingress and egress, making it easily accessible. 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. Howard’s Grove is an affluent small town located near Sheboygan, Wisconsin. This Piggly location is the only grocery store in town, and average household incomes exceed $100,000 annually. 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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