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Next Door Pediatrics 2561 N 29th St 7,583 SF 100% Leased Office Building Milwaukee, WI 53210 $2,970,444 ($391.72/SF) 6.75% Cap Rate
Investment Highlights
- Long-Term Absolute NNN Lease with ±10 Years Remaining Through April 2036 | Zero Landlord Responsibilities
- Lease Guaranteed by the State of Wisconsin (Aa3 Moody's) | Institutional-Quality Credit Strength
- Near Fond du Lac Avenue (±20,098 VPD) and North Avenue (±10,812 VPD) with Access to I-43 and U.S. Highway 41
- Scheduled 1% Annual Rental Increases Providing Consistent Income Growth and Inflation Protection
- Two (2) Five-Year Renewal Options Offering Up to 10 Additional Years of Occupancy
- Milwaukee MSA with 1.58 Million Residents and $116,353 Average Household Income
Executive Summary
Marcus & Millichap is pleased to present the opportunity to acquire a single-tenant Children's Wisconsin outpatient clinic located at 2561 N 29th Street in Milwaukee, Wisconsin. The ±7,583-square-foot purpose-built healthcare facility, constructed in 2010, is secured by a long-term absolute NNN lease with approximately 10 years remaining through April 2036 and zero landlord responsibilities. The lease generates $200,505 in annual base rent at a 6.75% cap rate, with scheduled 1% annual rental increases and two (2) five-year renewal options. Lease payments are guaranteed by the State of Wisconsin (Aa3 Moody's), delivering institutional-quality credit strength and long-term income security.
The property is positioned along North 29th Street with convenient access to Interstate 43 and U.S. Highway 41, near Fond du Lac Avenue (±20,098 VPD) and North Avenue (±10,812 VPD). The surrounding trade area includes Marquette University (11,500+ enrollment), Fiserv Forum, Ascension SE Wisconsin Hospital, and established residential neighborhoods with 504,208 residents and $88,451 average household income within 5 miles. Children's Wisconsin is the state's No. 1 pediatric hospital per U.S. News, with over 125 years of service, pairing mission-critical healthcare demand with passive, state-backed net-lease income.
The property is positioned along North 29th Street with convenient access to Interstate 43 and U.S. Highway 41, near Fond du Lac Avenue (±20,098 VPD) and North Avenue (±10,812 VPD). The surrounding trade area includes Marquette University (11,500+ enrollment), Fiserv Forum, Ascension SE Wisconsin Hospital, and established residential neighborhoods with 504,208 residents and $88,451 average household income within 5 miles. Children's Wisconsin is the state's No. 1 pediatric hospital per U.S. News, with over 125 years of service, pairing mission-critical healthcare demand with passive, state-backed net-lease income.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
7,583 SF
Building Class
B
Year Built
2010
Price
$2,970,444
Price Per SF
$391.72
Cap Rate
6.75%
NOI
$200,505
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
7,583 SF
Building FAR
0.75
Lot Size
0.23 AC
Opportunity Zone
Yes
Zoning
RT4
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 326-1711-000-7 | Improvements Assessment | $2,439,300 |
| Land Assessment | $5,000 | Total Assessment | $2,444,300 |
Property Taxes
Parcel Number
326-1711-000-7
Land Assessment
$5,000
Improvements Assessment
$2,439,300
Total Assessment
$2,444,300
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Next Door Pediatrics | 2561 N 29th St
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