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Shopping Neighborhood

Cornerstone Mall | Madison, Wisconsin Submarket

2831 Parmenter St, Middleton, WI 53562

Listing Price: $3,287,000

Cap Rate
7.25%
Gross SF
18,733
Rentable SF
18,733
Price/Gross SF
$175.47
Lot Size
2.29 acres
Year Built
2003

Investment Overview

Marcus & Millichap is pleased to present Cornerstone Mall located in Middleton, Wisconsin and park of the Madison Metropolitan Statistical Area. This shopping center is 92 percent occupied with net-leased tenants. Three tenants have annual rental increases. There is an opportunity to add value and cap rate growth through leasing remaining 1,500 square feet. Several tenants have long operating history with Advance America occupying space since 2005 and Middleton Travel occupying space since 2009. The property is situated on a signalized, hard-corner intersection of Parmenter Street and Donna Street with 12,600 vehicles passing per day. Roughly a quarter mile to the heavily traveled intersection of highway 12 and highway 14 with 71,400 total vehicles passing per day. Attractive real estate fundamentals with plentiful parking with 60 parking spaces. Ideally situated adjacent to the Middleton Police Department and Middleton Courthouse. Half a mile to Middleton High School and Kromrey Middle School. Situated amongst many national retailers, hotels and industrial areas. Major retailers in the area include Costco, Pick'n Save, Napa Auto Parts, Anytime Fitness, McDonalds, Starbucks, World of Beer and more. 1.5 miles to Greenway Station (retailers include Dsw, World Market, Marshalls, Home Goods, Michaels, Biaggi's, Bath And Body Works, Ancho And Agave, Guitar Center and many more). 12 hotels within two miles of subject property adjacent to newly constructed 40,000 square foot office building which is over 93 percent occupied. Many proposed and new construction developments within minutes of subject property. Excellent demographics with an anticipated six percent growth rate by 2025. 96,882 people live within five miles of subject property. Situated in an affluent area with an average household income of $128,968 within three miles of the subject property. There is high daytime population with 138,029 people work within five miles of subject property.

Investment Highlights

  • Excellent Demographics | Anticipated Six Percent Growth Rate by 2025
  • 92 Percent Occupied with Net-Leased Tenants
  • Situated on a Signalized, Hard-Corner Intersection of Parmenter Street and Donna Street | 12,600 Vehicles Passing per Day
  • Roughly a Quarter Mile to the Heavily Traveled Intersection of Highway 12 and Highway 14 | 71,400 Total Vehicles Passing per Day
  • Attractive Real Estate Fundamentals
  • Situated Amongst Many National Retailers, Hotels and Industrial Areas

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    Vice President/Regional Manager

    (262) 364-1964

    License(s) WI: 56163-90

    Wisconsin

Shopping Neighborhood

Cornerstone Mall | Madison, Wisconsin Submarket

Listing Price: $3,287,000

Cap Rate
7.25%
Gross SF
18,733
Rentable SF
18,733
Price/Gross SF
$175.47
Lot Size
2.29 acres
Year Built
2003

Investment Highlights

  • Excellent Demographics | Anticipated Six Percent Growth Rate by 2025
  • 92 Percent Occupied with Net-Leased Tenants
  • Situated on a Signalized, Hard-Corner Intersection of Parmenter Street and Donna Street | 12,600 Vehicles Passing per Day
  • Roughly a Quarter Mile to the Heavily Traveled Intersection of Highway 12 and Highway 14 | 71,400 Total Vehicles Passing per Day
  • Attractive Real Estate Fundamentals
  • Situated Amongst Many National Retailers, Hotels and Industrial Areas

Investment Overview

Marcus & Millichap is pleased to present Cornerstone Mall located in Middleton, Wisconsin and park of the Madison Metropolitan Statistical Area. This shopping center is 92 percent occupied with net-leased tenants. Three tenants have annual rental increases. There is an opportunity to add value and cap rate growth through leasing remaining 1,500 square feet. Several tenants have long operating history with Advance America occupying space since 2005 and Middleton Travel occupying space since 2009. The property is situated on a signalized, hard-corner intersection of Parmenter Street and Donna Street with 12,600 vehicles passing per day. Roughly a quarter mile to the heavily traveled intersection of highway 12 and highway 14 with 71,400 total vehicles passing per day. Attractive real estate fundamentals with plentiful parking with 60 parking spaces. Ideally situated adjacent to the Middleton Police Department and Middleton Courthouse. Half a mile to Middleton High School and Kromrey Middle School. Situated amongst many national retailers, hotels and industrial areas. Major retailers in the area include Costco, Pick'n Save, Napa Auto Parts, Anytime Fitness, McDonalds, Starbucks, World of Beer and more. 1.5 miles to Greenway Station (retailers include Dsw, World Market, Marshalls, Home Goods, Michaels, Biaggi's, Bath And Body Works, Ancho And Agave, Guitar Center and many more). 12 hotels within two miles of subject property adjacent to newly constructed 40,000 square foot office building which is over 93 percent occupied. Many proposed and new construction developments within minutes of subject property. Excellent demographics with an anticipated six percent growth rate by 2025. 96,882 people live within five miles of subject property. Situated in an affluent area with an average household income of $128,968 within three miles of the subject property. There is high daytime population with 138,029 people work within five miles of subject property.

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    Vice President/Regional Manager

    (262) 364-1964

    License(s): WI: 56163-90

    Wisconsin

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