2921 New Pinery Rd 7,200 SF 33% Leased Retail Building Portage, WI 53901 $1,700,000 ($236.11/SF) 8% Cap Rate

2921 New Pinery Road presents a compelling opportunity to acquire a newer construction, multi-tenant retail asset in Portage’s dominant retail corridor. The 7,200 SF property offers a strong combination of stable in-place income and value-add potential, with two suites leased to national tenants - Arby’s and Shopko Optical—and one remaining suite available for lease or owner occupancy.
Positioned along highly visible New Pinery Road (Highway 51), the property benefits from excellent exposure, convenient access, and consistent consumer traffic driven by surrounding national retailers including Walmart, ALDI, Festival Foods, Kwik Trip, and additional QSR development underway adjacent to the site.
The existing tenancy provides reliable income, while the vacant grey-box suite offers a clear opportunity to increase cash flow through lease-up or owner-user placement. Modern construction, strong curb appeal, and ample on-site parking further enhance the asset’s long-term desirability.
Offered at $1,700,000 (8% cap rate on current income), this opportunity is well-suited for investors seeking stable returns with upside potential, as well as owner-users looking to establish a presence in a high-performing retail corridor.
Well-located, newer retail assets with national co-tenancy and lease-up potential are increasingly limited in the market, making this a strong consideration for buyers seeking both security and growth.