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Shopping Neighborhood

Grand Avenue Shopping Center

2201 Grand Avenue, Wausau, WI 54403

Listing Price: $2,000,000

Cap Rate
6.00%
Gross SF
33,381
Rentable SF
33,381
Price/Gross SF
$59.91
Lot Size
2.81 acres
Year Built
1957

Investment Overview

Marcus & Millichap is pleased to exclusively present for sale, Grand Avenue Shopping Center located in Wausau, Wisconsin. Grand Avenue Shopping Center is a 57 percent occupied, 33,381-square-foot neighborhood strip center that is priced well below replacement cost at $60 per square foot. Grand Avenue Shopping Center is being offered for $2 million.

Investment Highlights

  • 57% Percent Occupied, 33,381 SF Neighborhood Strip Center in Wausau, Wisconsin. Anchored by Family Dollar and Firestone who contribute 87% of the Current in Place Rent
  • Proforma Cap Rate of 12.9% via Lease-up of 43% Vacancy
  • Priced Well Below Replacement Cost at $60/SF
  • Firestone has Been a Long - Term Tenant since 1972 with Multiple Renewal's Exercised, Occupies 21.86 Percent of Gross Leasable Area, Current Lease Through 2027
  • Family Dollar has Been a Long - Term Tenant Since 2003 with Multiple Renewal's Exercised, Occupies 22.69 Percent of Gross Leasable Area, Current Lease Through 2028
  • Upside Via Lease up of 14,490 Square Feet; Potentially Adding $138K of NOI
  • 81 Percent of Total Gross Leasable Area Include National Tenants Firestone, Family Dollar and Sears Hometown
  • Cheap Rents = Average of $8.69/SF, Large 2.18 Acre Site

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s) WI: 56163-90

    Wisconsin

Financing By

Shopping Neighborhood

Grand Avenue Shopping Center

Listing Price: $2,000,000

Cap Rate
6.00%
Gross SF
33,381
Rentable SF
33,381
Price/Gross SF
$59.91
Lot Size
2.81 acres
Year Built
1957

Investment Highlights

  • 57% Percent Occupied, 33,381 SF Neighborhood Strip Center in Wausau, Wisconsin. Anchored by Family Dollar and Firestone who contribute 87% of the Current in Place Rent
  • Proforma Cap Rate of 12.9% via Lease-up of 43% Vacancy
  • Priced Well Below Replacement Cost at $60/SF
  • Firestone has Been a Long - Term Tenant since 1972 with Multiple Renewal's Exercised, Occupies 21.86 Percent of Gross Leasable Area, Current Lease Through 2027
  • Family Dollar has Been a Long - Term Tenant Since 2003 with Multiple Renewal's Exercised, Occupies 22.69 Percent of Gross Leasable Area, Current Lease Through 2028
  • Upside Via Lease up of 14,490 Square Feet; Potentially Adding $138K of NOI
  • 81 Percent of Total Gross Leasable Area Include National Tenants Firestone, Family Dollar and Sears Hometown
  • Cheap Rents = Average of $8.69/SF, Large 2.18 Acre Site

Investment Overview

Marcus & Millichap is pleased to exclusively present for sale, Grand Avenue Shopping Center located in Wausau, Wisconsin. Grand Avenue Shopping Center is a 57 percent occupied, 33,381-square-foot neighborhood strip center that is priced well below replacement cost at $60 per square foot. Grand Avenue Shopping Center is being offered for $2 million.

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s): WI: 56163-90

    Wisconsin

Financing By

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