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Value-Add Opportunity - Luck, WI 2547 State Road 35 15,000 SF 88% Leased Retail Building Luck, WI 54853 $2,116,000 ($141.07/SF) 8.50% Cap Rate
Investment Highlights
- Value-add potential is supported by one 1,750 SF vacant suite representing 11.7% of the GLA, below-market average in-place rent of $12.14 PSF.
- The property features landlord-friendly lease structures, with net leases in place across all existing tenants and minimal landlord responsibilities.
- The property is located in a quaint and affluent area with an average household income exceeding $90,030 within a three-mile radius.
- Attractive pricing offers strong returns, including a day-one cap rate of 8.50% and a 9.42% cash-on-cash return at the asking price.
- The ideal tenant roster consists of approximately 50% medical users and 50% traditional retail users and is anchored by Luck Clinic & Amery Hospital.
Executive Summary
We are pleased to exclusively offer for sale the 15,000 SF Evergreen Plaza located at 2547 State Road 35 in Luck, Wisconsin. This offering presents a compelling value-add investment opportunity with one 1,750 SF vacant suite, representing approximately 11.7% of the gross leasable area, providing immediate upside through lease-up. The property features a low average in-place rent of $12.14 PSF, along with significant annual rental escalations that enhance long-term income growth.
In Cooperation With ParaSell, Inc. , A Licensed Wisconsin Broker - Lic. #938545-91 BoR: Scott Reid - Lic. WI #58772-90
In Cooperation With ParaSell, Inc. , A Licensed Wisconsin Broker - Lic. #938545-91 BoR: Scott Reid - Lic. WI #58772-90
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
15,000 SF
Building Class
C
Year Built
1993
Price
$2,116,000
Price Per SF
$141.07
Cap Rate
8.50%
NOI
$179,827
Percent Leased
88%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.32
Lot Size
1.08 AC
Parking
80 Spaces (5.33 Spaces per 1,000 SF Leased)
Frontage
288’ on State Road 35
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Amery Clinic
- Health Care and Social Assistance
- 5,100 SF
- $13.40
- Triple Net
- Jul 2027
- Amery Physical Theraphy
- Health Care and Social Assistance
- 1,600 SF
- $15.74
- Triple Net
- Jun 2027
- Edward Jones
- Finance and Insurance
- 1,600 SF
- $14.06
- Triple Net
- Feb 2027
- Sterling Bank
- Finance and Insurance
- 2,400 SF
- $17.62
- Triple Net
- Aug 2029
- Stop-A-Sec (Master Lease)
- Retailer
- 2,950 SF
- $10.00
- Triple Net
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Amery Clinic | Health Care and Social Assistance | 5,100 SF | $13.40 | Triple Net | Jul 2027 | |
| Amery Physical Theraphy | Health Care and Social Assistance | 1,600 SF | $15.74 | Triple Net | Jun 2027 | |
| Edward Jones | Finance and Insurance | 1,600 SF | $14.06 | Triple Net | Feb 2027 | |
| Sterling Bank | Finance and Insurance | 2,400 SF | $17.62 | Triple Net | Aug 2029 | |
| Stop-A-Sec (Master Lease) | Retailer | 2,950 SF | $10.00 | Triple Net | - |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
3,000 SF - Estimated initial monthly rent of $3,460
Retail or Potential Office Space • 1,700 square feet • Initial estimated monthly rent of $1,960 • Landlord will construct a new restroom as part of the lease Plenty of natural light and storefront presence Preexisting shelf walls Storage room
| Space | Size | Space Use | Position | Available |
| 1st Floor | 3,000 SF | Office | - | 30 Days |
| 1700 | 1,700 SF | Office/Retail | In-Line | Now |
1st Floor
| Size |
| 3,000 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| 30 Days |
1700
| Size |
| 1,700 SF |
| Space Use |
| Office/Retail |
| Position |
| In-Line |
| Available |
| Now |
1 of 9
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1st Floor
| Size | 3,000 SF |
| Space Use | Office |
| Position | - |
| Available | 30 Days |
3,000 SF - Estimated initial monthly rent of $3,460
1 of 6
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1700
| Size | 1,700 SF |
| Space Use | Office/Retail |
| Position | In-Line |
| Available | Now |
Retail or Potential Office Space • 1,700 square feet • Initial estimated monthly rent of $1,960 • Landlord will construct a new restroom as part of the lease Plenty of natural light and storefront presence Preexisting shelf walls Storage room
Property Taxes
| Parcel Number | 146-00470-0000 | Improvements Assessment | $905,200 |
| Land Assessment | $27,000 | Total Assessment | $932,200 |
Property Taxes
Parcel Number
146-00470-0000
Land Assessment
$27,000
Improvements Assessment
$905,200
Total Assessment
$932,200
1 of 5
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Value-Add Opportunity - Luck, WI | 2547 State Road 35
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