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Absolute NNN Portillo's Ground Lease 17685 W Bluemound Rd 9,020 SF Retail Building Brookfield, WI 53045 $4,800,000 ($532.15/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Ground Lease – zero landlord responsibilities
- Long Term Primary Lease - ±11.5 years remaining
- Extremely high average household earnings of $171,155
- Long Term Primary Lease - ±11.5 years remaining
- Portillo's saw a 4.5% increase in revenue, reaching $710.6 million in 2024
- Directly situated next to Brookefield Lakes Corporate Center, a 158-acre, master-planned development with over 1,035,000 SF of office, retail, and hos
EXECUTIVE SUMMARY
INVESTMENT HIGHLIGHTS
• Absolute NNN Ground Lease – zero landlord responsibilities
• Long Term Primary Lease - ±11.5 years remaining
• Strong Corporate Guaranty
TENANT HIGHLIGHTS
• Portillo's saw a 4.5% increase in revenue, reaching $710.6 million in 2024
• The company currently operates 95 locations nationwide, employing over 8,000 people
• Portillo's aims to expand to 920 locations across the U.S. in the coming years
• Portillo’s (Nasdaq: PTLO) holds a current market capitalization of $783.7 million
• Portillo’s went public in October 2021, raising $405 million in its initial public offering (IPO)
• Extremely high average unit volumes of $9 million as of Q1 2025
LOCATION HIGHLIGHTS
• Extremely high average household earnings of $171,155
• Directly situated next to Brookefield Lakes Corporate Center, a 158-acre, master-planned development with over 1,035,000 SF of office, retail, and hospitality
• Excellent visibility along Highway 18, a major thoroughfare with strong traffic counts of ±36,100 VPD
• Located in a highly sought-after retail corridor with national credit tenants such as: Dick’s Sporting Goods, Total Wine, Life Time Fitness, Hobby Lobby, and more
• Waukesha County is business-friendly, with low taxes and a great economic base
• Absolute NNN Ground Lease – zero landlord responsibilities
• Long Term Primary Lease - ±11.5 years remaining
• Strong Corporate Guaranty
TENANT HIGHLIGHTS
• Portillo's saw a 4.5% increase in revenue, reaching $710.6 million in 2024
• The company currently operates 95 locations nationwide, employing over 8,000 people
• Portillo's aims to expand to 920 locations across the U.S. in the coming years
• Portillo’s (Nasdaq: PTLO) holds a current market capitalization of $783.7 million
• Portillo’s went public in October 2021, raising $405 million in its initial public offering (IPO)
• Extremely high average unit volumes of $9 million as of Q1 2025
LOCATION HIGHLIGHTS
• Extremely high average household earnings of $171,155
• Directly situated next to Brookefield Lakes Corporate Center, a 158-acre, master-planned development with over 1,035,000 SF of office, retail, and hospitality
• Excellent visibility along Highway 18, a major thoroughfare with strong traffic counts of ±36,100 VPD
• Located in a highly sought-after retail corridor with national credit tenants such as: Dick’s Sporting Goods, Total Wine, Life Time Fitness, Hobby Lobby, and more
• Waukesha County is business-friendly, with low taxes and a great economic base
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
9,020 SF
Building Class
B
Year Built
2015
Price
$4,800,000
Price Per SF
$532.15
Cap Rate
5.75%
NOI
$276,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
2.37 AC
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Portillo's
- -
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Portillo's | - | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | BRC-1120-975-001 | Improvements Assessment | $2,868,000 |
| Land Assessment | $1,832,500 | Total Assessment | $4,700,500 |
PROPERTY TAXES
Parcel Number
BRC-1120-975-001
Land Assessment
$1,832,500
Improvements Assessment
$2,868,000
Total Assessment
$4,700,500
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Absolute NNN Portillo's Ground Lease | 17685 W Bluemound Rd
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