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Shopping Strip

Verizon & Nail Salon

2400 Lake Shore Dr E, Ashland, WI 54806

Listing Price: $478,883

Cap Rate
9.23%
Gross SF
3,069
Rentable SF
3,069
Price/Gross SF
$156.04
Lot Size
0.62 acres
Year Built
2007

Investment Overview

Marcus and Millichap is pleased to present for your acquisition review the Verizon and Queen Nail & Spa and Nails in Ashland, Wisconsin. Located in one of the outparcels of a Walmart Supercenter, the 100% occupied building features two, long-term tenants on triple net leases. Verizon has been operating at the property since 2012 and current lease expires in November of 2024. Lux Spa & Nails just renewed for an additional five years expiring April of 2026. The excellent positioning and visibility provide excellent exposure for the tenants and will be a demand driver for many years to come. In addition to being in Walmart’s Shadow, other traffic drivers include O’Reilly Auto Parts, Kwik Trip, Ashland Honda/Toyota, Culver’s, Maurices, Northland College, and Tractor Supply among many others. The next closest Walmart is over 36 miles away. Ashland is the county seat of Ashland County and sits on Lake Superior, which itself brings tourism to the area in the summer months for fishing, camping, and other outdoor activities. There are 9,000 people living within five-miles of the property with an average household income of $59,244.

Investment Highlights

  • 3,069 Square Feet Retail Center ¦100 % Occupied
  • Walmart Supercenter Shadow Anchored ¦Two Long-Term Tenants on NNN Leases ¦ Minimal Landlord Responsibilities
  • Bite-Size Deal ¦Replaceable Rents ¦ Strong Fundamentals of Real Estate
  • Recent Renewals for both Tenants Demonstrating Success and Commitment to the Location
  • Retail Traffic Drivers Include O'Reilly Auto Parts, Kwik Trip, Ashland Honda/Toyota, Culver's, Maurices, Northland College, and Tractor Supply

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    Vice President/Regional Manager

    (262) 364-1964

    License(s) WI: 56163-90

    Wisconsin

Shopping Strip

Verizon & Nail Salon

Listing Price: $478,883

Cap Rate
9.23%
Gross SF
3,069
Rentable SF
3,069
Price/Gross SF
$156.04
Lot Size
0.62 acres
Year Built
2007

Investment Highlights

  • 3,069 Square Feet Retail Center ¦100 % Occupied
  • Walmart Supercenter Shadow Anchored ¦Two Long-Term Tenants on NNN Leases ¦ Minimal Landlord Responsibilities
  • Bite-Size Deal ¦Replaceable Rents ¦ Strong Fundamentals of Real Estate
  • Recent Renewals for both Tenants Demonstrating Success and Commitment to the Location
  • Retail Traffic Drivers Include O'Reilly Auto Parts, Kwik Trip, Ashland Honda/Toyota, Culver's, Maurices, Northland College, and Tractor Supply

Investment Overview

Marcus and Millichap is pleased to present for your acquisition review the Verizon and Queen Nail & Spa and Nails in Ashland, Wisconsin. Located in one of the outparcels of a Walmart Supercenter, the 100% occupied building features two, long-term tenants on triple net leases. Verizon has been operating at the property since 2012 and current lease expires in November of 2024. Lux Spa & Nails just renewed for an additional five years expiring April of 2026. The excellent positioning and visibility provide excellent exposure for the tenants and will be a demand driver for many years to come. In addition to being in Walmart’s Shadow, other traffic drivers include O’Reilly Auto Parts, Kwik Trip, Ashland Honda/Toyota, Culver’s, Maurices, Northland College, and Tractor Supply among many others. The next closest Walmart is over 36 miles away. Ashland is the county seat of Ashland County and sits on Lake Superior, which itself brings tourism to the area in the summer months for fishing, camping, and other outdoor activities. There are 9,000 people living within five-miles of the property with an average household income of $59,244.

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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