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Shopping Strip

Mattress Firm Center | Upside Potential

2626 S Oneida St, Green Bay, WI 54304

Listing Price: $2,895,000

Cap Rate
5.72%
Gross SF
7,690
Rentable SF
7,690
Price/Gross SF
$376.46
Lot Size
1.16 acres
Year Built
2015

Investment Overview

Marcus & Millichap is pleased to offer for sale this Mattress Firm Center, a multi-tenant retail building located at 2626 S Oneida Road in Green Bay, Wisconsin. The property was constructed in 2015 and sits on a 1.16-acre hard corner parcel with ample parking and 7,500 square feet of total rentable space. The 80 percent occupied center is tenanted by Mattress Firm and Wingstop, both on triple-net leases. Mattress Firm has occupied the site since 2014 and has over two years of term remaining. The retailer has over 2,500 company-operated and franchised stores across 49 states and has the largest geographic footprint in the United States among multi-brand mattress retailers. In January 2022, Mattress Firm filed for an initial public offering and announced its plans to open 300 new stores over the next three years. Wingstop, Inc. is a fast-casual American chain of nostalgic, aviation-themed restaurants specializing in chicken wings. There are currently more than 1,700 restaurants world wide. Wingstop reported a total revenue exceeding $282-million in 2021 and has had consecutive same-store sales growth over the past 18 years. The brand recently announced its plan to grow to 7,000 locations globally over the next several years. The tenant recently exercised a five-year lease extension, set to expire in November 2027. The center is strategically positioned on a corner lot off S Oneida Road, which experiences a daily traffic count exceeding 21,500. Also within the immediate area is the highway interchange of Interstate-41 and WI-172 with a combined traffic count of over 122,800 vehicles per day. The area benefits from a dense retail market with 13.5 million square feet of retail in a five-mile radius. There are over 146,000 full-time residents with an average household income exceeding $75,000 per year within five miles of the asset. The subject property is positioned 13 minutes from Downtown Green Bay, adjacent to a shopping center anchored by Gordon Food Service and a large power center tenanted by Best Buy, Dick’s Sporting Goods, Hobby Lobby, Bed Bath & Beyond and others. Also nearby is Bay Park Square, a 712,000 square foot regional shopping mall including tenants such as Kohl’s, Dave & Buster’s, Old Navy, Steinhafels Furniture Store, and numerous others. The Mattress Firm Center is an excellent opportunity to acquire a value-add property in a core retail corridor.

Investment Highlights

  • 80% Occupied Center | Triple-Net Leases
  • Wingstop Recently Extended for Another Five Years
  • Signalized Corner Lot on S Oneida Road (21,500 VPD) | Near the Interstate-41 & WI-172 Interchange (122,800 VPD)
  • Over 146,000 Full-Time Residents & Average Household Income of $75,000 within a Five-Mile Radius
  • Dense Retail Market | 13.5 Million SF in Five Miles
  • Adjacent to a Gordon Food Service Anchored Shopping Center, Best Buy, Hobby Lobby, Dick's Sporting Goods, Kohl's, Aldi, Fresh Thyme Market, and many others.
  • 1.5 Miles from Lambeau Field, Home of the Green Bay Packers

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s) WI: 56163-90

    Wisconsin

Shopping Strip

Mattress Firm Center | Upside Potential

Listing Price: $2,895,000

Cap Rate
5.72%
Gross SF
7,690
Rentable SF
7,690
Price/Gross SF
$376.46
Lot Size
1.16 acres
Year Built
2015

Investment Highlights

  • 80% Occupied Center | Triple-Net Leases
  • Wingstop Recently Extended for Another Five Years
  • Signalized Corner Lot on S Oneida Road (21,500 VPD) | Near the Interstate-41 & WI-172 Interchange (122,800 VPD)
  • Over 146,000 Full-Time Residents & Average Household Income of $75,000 within a Five-Mile Radius
  • Dense Retail Market | 13.5 Million SF in Five Miles
  • Adjacent to a Gordon Food Service Anchored Shopping Center, Best Buy, Hobby Lobby, Dick's Sporting Goods, Kohl's, Aldi, Fresh Thyme Market, and many others.
  • 1.5 Miles from Lambeau Field, Home of the Green Bay Packers

Investment Overview

Marcus & Millichap is pleased to offer for sale this Mattress Firm Center, a multi-tenant retail building located at 2626 S Oneida Road in Green Bay, Wisconsin. The property was constructed in 2015 and sits on a 1.16-acre hard corner parcel with ample parking and 7,500 square feet of total rentable space. The 80 percent occupied center is tenanted by Mattress Firm and Wingstop, both on triple-net leases. Mattress Firm has occupied the site since 2014 and has over two years of term remaining. The retailer has over 2,500 company-operated and franchised stores across 49 states and has the largest geographic footprint in the United States among multi-brand mattress retailers. In January 2022, Mattress Firm filed for an initial public offering and announced its plans to open 300 new stores over the next three years. Wingstop, Inc. is a fast-casual American chain of nostalgic, aviation-themed restaurants specializing in chicken wings. There are currently more than 1,700 restaurants world wide. Wingstop reported a total revenue exceeding $282-million in 2021 and has had consecutive same-store sales growth over the past 18 years. The brand recently announced its plan to grow to 7,000 locations globally over the next several years. The tenant recently exercised a five-year lease extension, set to expire in November 2027. The center is strategically positioned on a corner lot off S Oneida Road, which experiences a daily traffic count exceeding 21,500. Also within the immediate area is the highway interchange of Interstate-41 and WI-172 with a combined traffic count of over 122,800 vehicles per day. The area benefits from a dense retail market with 13.5 million square feet of retail in a five-mile radius. There are over 146,000 full-time residents with an average household income exceeding $75,000 per year within five miles of the asset. The subject property is positioned 13 minutes from Downtown Green Bay, adjacent to a shopping center anchored by Gordon Food Service and a large power center tenanted by Best Buy, Dick’s Sporting Goods, Hobby Lobby, Bed Bath & Beyond and others. Also nearby is Bay Park Square, a 712,000 square foot regional shopping mall including tenants such as Kohl’s, Dave & Buster’s, Old Navy, Steinhafels Furniture Store, and numerous others. The Mattress Firm Center is an excellent opportunity to acquire a value-add property in a core retail corridor.

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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