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2222 W Capitol Dr 14,171 SF Retail Building Milwaukee, WI 53209 $3,000,000 ($211.70/SF) 9.18% Cap Rate
INVESTMENT HIGHLIGHTS
- Surrounded by Exciting New Developments
- Situated on Prominent Corner Lot
EXECUTIVE SUMMARY
HIGH VISIBILITY LOCATION – The property is situated on a prominent corner lot, ensuring excellent exposure and visibility to a high volume of traffic. The intersection the site is located on generates over 34,000 vehicles per day.
DENSE COMMUNITY – This property serves the central Milwaukee, WI community with over 850,000 residents within a 5-mile radius of the subject.
CRITICAL DRIVE-THRU LANE – Drive-thru lanes proved to be critical for retailers through the pandemic, and as total sales volume for restaurants, pharmacy, and bank properties last year hit a record $12 Billion, the interest in drive-through real estate has exploded.
INVESTMENT GRADE CREDIT TENANT – Rent is guaranteed for 3.25 Years by Walgreens Corporate, a Fortune 500 pharmaceutical and health service company boasting an S&P credit rating of BBB- and a ± $19 billion market cap.
DENSE COMMUNITY – This property serves the central Milwaukee, WI community with over 850,000 residents within a 5-mile radius of the subject.
CRITICAL DRIVE-THRU LANE – Drive-thru lanes proved to be critical for retailers through the pandemic, and as total sales volume for restaurants, pharmacy, and bank properties last year hit a record $12 Billion, the interest in drive-through real estate has exploded.
INVESTMENT GRADE CREDIT TENANT – Rent is guaranteed for 3.25 Years by Walgreens Corporate, a Fortune 500 pharmaceutical and health service company boasting an S&P credit rating of BBB- and a ± $19 billion market cap.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Convenience Store
Building Size
14,171 SF
Building Class
B
Year Built
1998
Price
$3,000,000
Price Per SF
$211.70
Cap Rate
9.18%
NOI
$275,400
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.64 AC
Zoning
LB2 - Commercial
Parking
63 Spaces (4.45 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
PROPERTY TAXES
| Parcel Number | 245-0216-110-1 | Improvements Assessment | $1,650,500 |
| Land Assessment | $1,092,800 | Total Assessment | $2,743,300 |
PROPERTY TAXES
Parcel Number
245-0216-110-1
Land Assessment
$1,092,800
Improvements Assessment
$1,650,500
Total Assessment
$2,743,300
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2222 W Capitol Dr
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